Manhyia South MP Faces GH¢9.85m Financial Loss Charge; Accused Of GH¢1m Kickback

The Office of the Attorney-General has filed three criminal charges against the Member of Parliament for Manhyia South, Nana Agyei Baffour Awuah, over alleged financial misconduct in a case involving SIC Life Savings & Loans Company Limited.

The charges — conspiracy to commit crime, intentionally causing financial loss to a public body, and money laundering — were filed at the High Court’s Specialised Jurisdiction Division in Accra on October 3, 2026.

According to the charge sheet, Mr. Awuah, while acting as counsel for SIC Life, allegedly conspired with the company’s then Managing Director in 2024 to dissipate GH¢9.85 million belonging to the state-owned company. The State further alleges that he caused SIC Life to suffer a loss of GH¢9.85 million in a business transaction and transferred GH¢1 million to the then MD, knowing the money was proceeds of crime.

The Case

The facts state that Mr. Awuah, Senior Partner of Sarkodie Baffour Awuah & Partners, was engaged by SIC Life in May 2020 to recover a GH¢6.3 million debt from Equity Savings and Loans Ltd. The firm was to be paid 15% of the principal as fees plus 1% for expenses.

In July 2022, the Commercial Division of the High Court entered summary judgment in favour of SIC Life against Equity for GH¢10.86 million. A 31.93-acre land at Adamorobe, Oyibi, belonging to Equity, was attached in December 2023 to satisfy the debt. A revised judgment on May 28, 2024, increased the debt to GH¢14.85 million. The land had a reserve price of GH¢25 million.

While under attachment, Equity allegedly sold the land to Eco Swiss Investment Ltd on March 14, 2024, for GH¢21.76 million, even though investigators found Eco Swiss had not been incorporated at the time. The State alleges Mr. Awuah was instrumental in that transaction. By July 2024, Eco Swiss had paid only GH¢5 million and filed a notice challenging the attachment, stalling the auction.

The Settlement

On July 18, 2024, SIC Life, Equity and Eco Swiss entered into Terms of Settlement where SIC Life agreed to accept the GH¢5 million already paid by Eco Swiss in full settlement of the GH¢14.85 million judgment debt.Per the terms, Mr. Awuah and his firm were to receive 15% of the original judgment debt as legal fees amounting to GH¢2.2 million — plus GH¢1 million as auctioneer’s fees to be paid by Eco Swiss.

Prosecutors allege the MD of SIC Life signed the settlement in conspiracy with Mr. Awuah without any record of board or management approval.

Alleged GH¢1m Transfer

The charge sheet states that after receiving the GH¢2.2 million, Mr. Awuah issued a cheque for GH¢1 million to the then MD of SIC Life on November 11, 2024 — almost half of his fee. The purpose of the transfer, according to investigators, remains unexplained.

Detention and Next Steps

Mr. Awuah voluntarily surrendered to the Economic and Organised Crime Office (EOCO) on October 1, 2026, following a High Court warrant issued on September 30. He spent the night in custody.

He is expected to be arraigned before the High Court’s Specialised Jurisdiction Division, where bail will be considered. Parliament, led by Speaker Alban Bagbin, has expressed concern over his continued detention and called for restraint.

Mr. Awuah is presumed innocent until proven guilty.