Former Buffer Stock CEO Abdul Wahab and his wife looted over GHC 40 million meant for the School Feeding Program.

The Attorney-General and Minister for Justice, Dr. Dominic Ayine, has uncovered yet another money laundering involving the former CEO of Buffer Stock Company, Hanan Abdul Wahab, under the erstwhile Akufo-Addo administration.

He indicated that his outfit will soon file charges of stealing, conspiracy to steal, wilfully causing financial loss to the state and other charges against the former CEO of Buffer Stock Company under the erstwhile Akufo-Addo administration.

At a press briefing on Wednesday, October 22, 2025, Dr. Domini Ayine revealed that upon investigation by the Economic Organised Crime Office (EOCO), the former Chief Executive Buffer Stock, Abdul Wahab and his wife, Faiza Seidu Wuni, stole state funds of over GHC40 million which were meant for the School Feeding programme while he served as Buffer Stock CEO from 2017 to 2024.

The A-G narrated that on June 25, 2025, the EOCO conducted a coordinated operation based upon their initial investigations, which resulted in the arrest of Mr. Abdul-Wahab, former Chief Executive of the National Food and Buffer Stock Company (NAFCO); his wife, Faiza Seidu Wuni; and James Atieku, the Buffer Stock manager for the Northern Sector, who was based in Tamale.

The operation also led to the arrest of Emmanuel Arthur, Head of Corporate Affairs of NAFCO.

“On account of the foregoing, we have decided to charge Mr. Hanan Abdul-Wahab and his wife, Faiza Seidu Wuni, with stealing, conspiracy to steal, wilfully causing financial loss to the state, using public office for profit, obtaining public property by false statements and money laundering,” the A-G noted.

 

According to the A-G, the arrest followed initial intelligence and assessment by EOCO which suggested that while serving as CEO of Buffer Stock between 2017 and 2024, Mr. Hanan Abdul-Wahab colluded with his wife, Faiza Seidu Wuni, Richard Sam Asante (Head of Finance), Bismark Owusu Boakye (Finance Department), and Emmanuel Arthur (Corporate Affairs Manager) and others to create an elaborate criminal enterprise that was used to steal and launder public funds from the Buffer Stock Company.

 

The A-G alleged that within the period between 2017 and 2024, Abdul Wahab, in conscent with Richard Sam Asante and Bismark Owusu Boakye, orchestrated the transfer of GHC 78 million cedis from the bank accounts of Buffer Stock Company to a private company linked to Hannan Abdul Wahab, his wife and the staff of Buffer Stock at Republic Bank and Ecobank.

The A-G noted that evidence shows that the funds were instantly retransferred to companies owned by Abdul Wahab himself and companies and entities owned and associated with him and his wife.

“Similarly, evidence shows that between December 2017 and May 2019, Hanan Abdul Wahab transferred GHC5,495,780.036 from Buffer Stock Company accounts to two bank accounts belonging to Aludiba Enterprise, one of his companies at Republic Bank and Absa,” he added.

According to the A-G, Abdul Wahab and his wife laundered over GHC40 million and syphoned these funds through some seven enterprises.