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Massive Cronyism, Money Laundering hits COCOBOD – CEO Awards Billions of Contract to Son

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  • Dow Agrosciences Limited (DOW) Limited, a UK-based company supplying the aforementioned insecticide, was further subcontracted by AEDIS.

Documents intercepted by the Financial Intelligence Centre at the Ghana Cocoa Board show high standards of corruption, nepotism, and money laundering.

After inquiries into contracts awarded to a newly established company, Agri-Plus Horizon Farm Limited, the documents sent to the Office of the Special Prosecutor were discovered.

The investigations revealed that a contract was awarded to Agri-Plus Horizon Farm Limited for the supply of 75,000 liters of Transform Akate Insecticide at a price of US$103.5 per liter for a total of US$7,762,500.00. Via the beleaguered Public Procurement Authority, this contract was sourced solely to the company.

Agri-Plus Horizon Farm Limited also subcontracted the contract to Aedis Holding Limited (AEDIS) for US$80,80357, a business owned by Joseph Seth Aidoo Jnr, believed to be the son of Mr Joseph Aidoo, COCOBOD’s Chief Executive Officer.

Dow Agrosciences Limited (DOW) Limited, a UK-based company supplying the aforementioned insecticide, was further subcontracted by AEDIS.

The study concludes that the Agri-Plus contracting decision was based on the grounds of nepotism and/or money laundering based on trade.”

The report further reveals that Joseph Seth Aidoo Jnr, son of COCOBOD CEO, is a signatory to Agri-Plus’ Ecobank Accounts, which was established on 1 August 2017.

“Analysis of the Agri-Plus Accounts showed that credits on Cedi account number 0010264510635401 were from October 2018 to May 2019 as shown in table 2 below, including GH35,982,390.48 from the Ghana Cocoa Board.”

The other shows large quantities of money accrued in the company’s different accounts, both Cedi and Dollar accounts.

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