Akufo Addo Unveils New Looting Models – Creates Multiple Accounts to Syphone NPP Funds

by | Oct 19, 2016 | Politics | 0 comments


The recently launched fundraising strategy by the opposition New Patriotic Party (NPP) dubbed “Adopt a Polling Station”, has reactivated controversies about how the NPP flagbearer is scheming to divert party funds to his personal campaign coffers.

The “Adopt a Polling Station” fundraising is a strategy to invite institutions and individuals sympathetic to the NPP to contribute as much as GHC 500 to support each of the 29,000 polling stations that NPP has representations in.

However, the funds from this campaign would go into an account linked to the flagbearer, rather than the party’s general account at the Ghana Commercial bank.

At the launching ceremony last week, Peter Mc Manu the campaign manager of the NPP announced that the account  named”I AM FOR NANA FOUNDATION” have been opened at the Zenith Bank (account name-“I am for Nana Foundation”, account number-6010614929) specifically for that purpose. Also an MTN mobile money number and online payment with credit or debit cards would direct funds into the “I am for Nana” banks accounts in other unnamed banks across the country. This has infuriated some cross-section of the party who are citing similar shady account diversion schemes hatched under Akufo Addo when he was the Minister of Justice and Attorney General.

In 2005, an Auditor-General report indicated that funds totaling GHC 272.8 were in 2004 lodged in fake bank accounts during Akufo Addo’s tenure as the Attorney General.

It is unclear, who gave authorization for this fake bank accounts, but being the head of the Justice Ministry at the time, Akufo Addo has been fingered for the act.

In section 96 of the Auditor General’s 2004 report which was specifically a report of financial activities of the Ministry of Justice and Attorney General’s department , the auditor general stated, “  Failure of the Accountant of the Registrar-General’s Department, Accra to ensure regular preparation of bank reconciliation statements, resulted in fake bank lodgments of revenue totaling ₡272.8 million in 2004.”

Some NPP members recall this scheme under Akufo Addo as the same being unfolded with the “Adopt a Polling Station” strategy.

Recently, a similar scheme was exposed when some loyalists of Akufo Addowithin the party hierarchy were caught pants down operating a secret account unknown to the party’s hierarchy at the Trust Towers Branch of Ecobank.

The lid on the account was blown by the suspended National Chairman of the NPP, Paul Afoko, but he was cleverly, kicked out of his position shortly after he made the disclosures.

Information available to this paper indicates that in 2015, over GHC 10 million accrued to the NPP from nomination fees charged its aspiring parliamentary candidates, however, two of Akufo Addo’s top lieutenants and National officers of the NPP-Freddie Blay (the acting National Chairman of the party) and Kwabena Abankwa-Yeboah (the National Treasurer of NPP)-, cornered the funds and diverted it into a long abandoned ghost account of the party at the Trust Towers branch of Ecobank.

The two subsequently made themselves the sole signatories to the account, by-passing the other bonafide signatories to the account.

The whereabouts of the remaining funds unknown, as suspicions are rife that it has been channeled into the campaign office of Akufo Addo.

A copy of the bank statement intercepted by this paper some months ago indicates that between June 25, 2015 and August 4, 2015 Freddy Blay and Abankwa Yeboah had doled out monies to prominent people within the party, most of whom are staunch loyalists of Akufo Addo.

In the bank statement, as at August 2015, only an amount of GHC 129,000 was left in the secret bank account.

Mr. Abankwah Yeboah and Freddie Blay alone made withdrawals totaling GHC1, 103,000.00 from the said account without any express authorization from the then National Chairman (Paul Afoko), General Secretary (Kwabena Agyapong) or the Finance Committee. The two are reported to have lodged approximately GHC 4 million in a 91 Treasury bill with which nobody can trace.

Not long ago, the NPP launched special mobile recharge cards to raise funds for the party, but up till now, apart from Akufo-Addo and his family members, nobody knows where revenue accrued from the sale of the NPP “KITIWA BIARA NSWA” recharge cards go to.

Paul Afoko, in a recent interview with described as shocking the financial impropriety being undertaken under the leadership of Akufo Addo.

Paul Afoko explained: ” The state in which I found the party was shocking. Financially, the party was in deep trouble. More debts than assets! The NPP had raised millions and millions of Ghana cedis in 2012 during the general election, but by the time I took office in April 2014, the party had only 89 Ghana cedis to its name. I repeat, 89 Ghana cedis! But it had huge debts! The only account controlled by the party at the time had only 89 Ghana cedis in it! Can you believe it?! Later we discovered several bank accounts all over the place that had the NPP tag to them but operated by people who were neither elected officials nor appointees of the party, just that they were very close to Akufo-Addo. They didn’t have the mandate or authority to operate a bank account in the name of the party. All those accounts were in the negative by millions of Ghana cedis. Those same people operated a forex account in the party’s name and there was about US$48,000 in it, but not controlled by the party. This was how bad it was in terms of NPP’s financial affairs. There was no accountability and transparency in the party’s finances”



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