GH¢55m Probe: Court Freezes Aboagye’s Assets

The High Court has ordered the freezing of five bank accounts and four landed properties belonging to former Executive Secretary of the Inter-Ministerial Coordinating Committee on Decentralisation (IMCCoD), Dennis Miracles Aboagye, in connection with an ongoing investigation into alleged financial misconduct involving approximately GH¢55 million. The asset preservation order, secured by the Economic and Organised Crime Office (EOCO), bars all transactions on the affected bank accounts and prohibits the sale, transfer, lease, or mortgaging of the listed properties until investigations and any related legal proceedings are concluded.

The frozen assets include a seven-bedroom residential property at Larteh, a two-bedroom residential property at Spintex, residential apartment units at Adjiringanor, and approximately 15 acres of land at Larteh. The court’s directive forms part of EOCO’s efforts to preserve assets that could become relevant to the outcome of its investigation into alleged procurement and financial irregularities during Aboagye’s tenure as Executive Secretary of IMCCoD.

Investigators are examining procurement contracts, financial transactions and expenditure undertaken during his administration to determine whether public funds were improperly applied, diverted or otherwise mismanaged. The investigation is centred on allegations that financial breaches and procurement irregularities may have resulted in losses estimated at about GH¢55 million.

Under Ghana’s legal framework governing economic and organised crime, investigators may apply for court-authorised freezing orders where there is reasonable suspicion that assets could be dissipated, concealed or transferred before investigations are completed. Such orders are intended to preserve the status quo and safeguard property that may become relevant in criminal or civil proceedings. A freezing order does not constitute a finding of guilt but serves as an interim legal measure while investigations continue.

Aboagye has strongly rejected the allegations against him, maintaining that all financial transactions and procurement processes undertaken during his tenure complied with the law and applicable public financial management procedures. He insists that his administration conducted its affairs transparently and has denied any involvement in wrongdoing.

The case adds to a series of recent anti-corruption investigations aimed at scrutinising the management of public resources and strengthening accountability within state institutions. EOCO has not yet announced whether criminal charges will be filed, indicating that investigations remain ongoing. Until the probe is concluded, the court’s freezing order will remain in force to prevent any disposal or encumbrance of the identified assets.

Source: TV3 News
Author: Joyce Owusu