The Economic and Organised Crime Office (EOCO) has denied reports that Manhyia South Member of Parliament, Nana Agyei Baffour Awuah, has been granted bail of GH¢50 million with three sureties.
The report, which circulated widely on Friday, October 2, claimed that the MP had been granted the bail after voluntarily reporting to EOCO on Thursday, October 1, to assist with an ongoing investigation.
However, EOCO has described the GH¢50 million bail report as false and urged the public to disregard it. The agency’s clarification came after several media outlets reported that the MP had been released on the stated bail terms.
Mr Baffour Awuah presented himself at EOCO’s premises on Thursday morning following an arrest warrant obtained by the agency from the Accra High Court.
EOCO had told the court that previous attempts to secure the MP’s attendance for questioning had been unsuccessful. The warrant was subsequently issued to compel him to assist with the ongoing investigation.
The investigation concerns allegations including criminal conspiracy, financial loss to SIC Savings and Loans, money laundering, tax-related offences and alleged unauthorised financial transactions. The allegations have not been established as findings of guilt.
According to information released by the Ghana News Agency, the investigation relates to financial transactions involving SIC Life Savings and Loans Company Limited and Equity Savings and Loans.
The MP’s former law firm had reportedly been engaged by SIC Life Savings and Loans to recover about GH¢3.5 million invested with Equity Savings and Loans. The amount subsequently increased to about GH¢14 million with accrued interest before a settlement was reached.
Mr Baffour Awuah has disputed aspects of EOCO’s case and argued that inquiries should instead be directed at his former law firm, whose representatives, he said, had cooperated with investigators.
His lawyer, Samuel Atta Akyea, has also questioned the decision to keep the MP in custody after he voluntarily reported to EOCO and cooperated with investigators.
EOCO’s clarification now leaves the reported GH¢50 million bail terms unconfirmed, with the agency yet to confirm the actual conditions of the MP’s release.
