The Attorney-General and Minister of Justice, Dr. Dominic Ayine, has disclosed further details surrounding the prosecution of Wontumi Farms Limited, citing evidence of financial irregularities involving Exim Bank and IBAN Capital Limited.
Speaking at the Government Accountability Series on Monday, Dr. Ayine explained that on February 14, 2018, Exim Bank contracted IBAN Capital Limited — a financial technology company specializing in cash management and custom banking software — to provide a digital platform for salary payments, biometric cards, and point-of-sale terminals for farmhands expected to be employed by Wontumi Farms.
Under the arrangement, Wontumi Farms was required to supply IBAN Capital with a database of workers to be integrated into the payment system. IBAN Capital would then receive funds directly from Exim Bank for disbursement into workers’ wallets as salaries and allowances.
However, Dr. Ayine revealed that Wontumi Farms failed to provide such a database, as there were no farmhands working on the land. Witnesses testified that Chairman Wontumi, CEO of Wontumi Farms Limited, pressured IBAN Capital and Exim Bank to transfer funds — amounting to payments for 400,000 supposed workers — insisting that the youth previously engaged in illegal mining (galamsey) preferred cash payments over electronic systems.
The Attorney-General noted that this evidence forms part of the charges of defrauding by false pretenses, forgery, and causing financial loss to the state, with losses already estimated at GH₵24.2 million and expected to rise as interest compounds.
The case is set to proceed after the Christmas break, marking a significant step in Ghana’s accountability drive.
Leave a Reply