The Attorney General’s office has provided fresh details on the ongoing investigation into the alleged disappearance of about GH¢850 million belonging to the Electricity Company of Ghana (ECG).
The case, which is linked to Power Distribution Services (PDS), has led to the arrest of four individuals who have since been granted bail.
The Bureau of National Intelligence (BNI) picked up the suspects as part of efforts to probe the transfer of large sums of money believed to belong to ECG.
Minister of State in charge of Government Communications, Felix Kwakye Ofosu, disclosed the arrests on May 4, 2026, identifying the suspects as Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh.
He stated that the four were granted bail after being questioned, as investigations continue.
In a latest update, the Spokesperson to the Attorney General, Benjamin Alpha Aidoo, in an interview with TV3 on May 5, 2026, said investigators are currently tracing the movement of the funds to establish what exactly happened.
“These investigations come on the back of the termination of the PDS and ECG agreement. If you recall, in 2019, the government terminated a power concession agreement between PDS and ECG when it was found that some of the payment guarantees were obtained fraudulently,” he said.
He explained that the suspects were invited based on intelligence gathered by investigators.
“The National Intelligence Bureau believed that these four persons have certain questions to answer. So for now, they were invited, questioned, and then granted bail pending further investigation,” he stated.
According to him, the focus is on an ECG account where the funds are believed to have gone missing.
“For now, an investigation is ongoing into the circumstances surrounding the disappearance of 850 million Ghana cedis from an ECG Cal bank account. The intelligence agencies deem it fit that these four persons be invited for questioning,” he said.
He noted that investigators have yet to determine whether the development involves a coordinated scheme.
“We do not know whether it was a coordinated scheme between some officials of PDS and these four persons. What we know, and we can speak to at this point, is that the investigative agencies want to trace the circumstances surrounding the disappearance of these monies,” he added.
Aidoo stressed that efforts are ongoing to track the funds and determine how they were used.
“The money is being traced. We need to understand whether those monies have been stolen, whether they’ve been siphoned, and what they have been used for,” he indicated.
Benjamin Alpha Aidoo urged the public to allow investigators to complete their work, adding that timelines cannot be fixed at this stage.
“For now, we will not give definite timelines because the intelligence agencies are on their own, and they do the work by the timelines and by the leads that they get. So, what I can assure is that the Attorney General is committed to a speedy investigation and trial,” he stated.
The investigation forms part of ongoing efforts by the state to uncover and recover public funds suspected to have been misused under the Operation Recover All Loot (ORAL) initiative.