The Economic and Organised Crime Office (EOCO) has granted bail to former Chief Executive Officer of GIHOC Distilleries Company Limited, Maxwell Kofi Jumah, following his arrest over alleged financial irregularities.
Mr Jumah was picked up on Wednesday, April 29, 2026, after a raid on his residence in Kumasi as part of ongoing investigations into suspected breaches of public financial management regulations during his time at the state-owned company.
Although he has been granted bail to the tune of GH¢55 million, the former GIHOC boss remains in custody as his legal team works to meet the conditions attached to his release.
A member of the New Patriotic Party (NPP), Paul Yandoh, who confirmed the development, indicated that the bail requirements have proven difficult to satisfy due to the scale of the amount involved.
“As of last night, he was given a bail bond of 55 million Ghana cedis before he can be released from custody. I don’t have such an amount to come and bail him,” he said.
According to him, efforts to secure the bail have stalled, with lawyers struggling to identify assets that meet the required threshold.
“The lawyers cannot find assets that can amount to that amount… so he is still in custody,” he added.
Mr Yandoh further questioned the basis for the bail sum, suggesting that it appears excessive in relation to the allegations under investigation.
“How can somebody go and sell scrap… and you are calling for over 550 million? Why?” he asked.
EOCO is yet to publicly detail the full scope of the alleged financial infractions, but the investigation is believed to centre on transactions and decisions made during Mr Jumah’s tenure at GIHOC Distilleries.
The case has already begun to draw public attention, with questions emerging over both the scale of the alleged infractions and the size of the bail imposed, as proceedings continue.
