GhArticles.com Every News in Detail
The Attorney General and Minister for Justice, Dr. Dominic Ayine, has announced plans to prosecute Percival Kofi Akpaloo of the Liberal Party of Ghana, his wife, and an associated company over alleged financial crimes involving the diversion of COCOBOD contract payments.
Speaking at the Government Accountability Series in Accra on Monday, December 22, 2025, Dr. Ayine said the case originated from a suspicious transaction report filed by the Financial Intelligence Centre (FIC) and submitted by First Bank Ghana Limited. The report related to unusual transactions on an account belonging to Pomaa Universal Ghana Limited, a company linked to Mr. Akpaloo.
Following the alert, the Economic and Organised Crime Office (EOCO) commenced investigations, which established that Pomaa Universal Ghana Limited is a legitimate company owned by a woman identified as Akua Pomaa. The company was awarded a feeder roads contract by COCOBOD in December 2020, valued at GH¢29.5 million.
According to the Attorney General, although the project commenced and initial payments were lawfully made into Pomaa Universal Ghana Limited’s account, subsequent transactions raised red flags, pointing to misrepresentation, forgery, and unauthorised handling of payment cheques.
Dr. Ayine disclosed that Mr. Akpaloo allegedly incorporated a separate company, Pomaaah Ghana Limited, deliberately adding the letter “H” to closely resemble the original firm’s name. Between December 2022 and June 2024, Mr. Akpaloo is accused of collecting eight COCOBOD cheques issued to Pomaa Universal Ghana Limited, amounting to GH¢3,169,432.22, and depositing them into Pomaaah Ghana Limited’s account at First Bank Ghana Limited.
Investigations further revealed that Akua Pomaa was unaware of the existence of Pomaaah Ghana Limited and the alleged diversion of funds until COCOBOD contacted her in June 2024 over outstanding balances on the contract. She later discovered that payments meant for her company had been redirected without her knowledge or consent.
The Attorney General also revealed that Akua Pomaa alleged her signature on the COCOBOD contract was forged. The document was reportedly signed using her former name, Mercy Owusu, without authorisation.
Dr. Ayine said First Bank Ghana Limited conducted an internal investigation and confirmed the fraud allegations, concluding that Mr. Akpaloo knowingly misrepresented ownership of the cheques and deposited them into an unauthorised account.
The suspects named in the case are Percival Kofi Akpaloo, Pomaaah Ghana Limited, and Delvin Akpaloo, his wife. Dr. Ayine stated that evidence points to offences including stealing, forgery, and money laundering.
He added that the Attorney General’s Department will formally file charges against the suspects when work resumes after the Christmas holidays.
