Luxury properties acquired by Adu Boahene since his 2018 appointment by Nana Addo

Since his appointment as Director of the National Signals Bureau (NSB) in 2018, Kwabena Adu Boahene has amassed significant wealth, acquiring prime real estate in Accra.

However, investigations by the Economic and Organised Crime Office (EOCO) suggest these acquisitions were funded through fraudulent financial transactions linked to a $7 million government contract scandal.

Boahene was arrested at Kotoka International Airport upon his return from London, following revelations by Attorney General Dr. Dominic Ayeni on Monday, March 24, that millions intended for a cyber defense system had been funneled into private accounts instead.

According to EOCO, Boahene and his associates orchestrated excess payments under the guise of government contracts, redirecting over GHS 39.4 million ($5.6 million) for personal use.

EOCO’s investigation has linked Boahene to multiple properties in Accra’s upscale Mayfair Estates, including:

No. 2 Stream Part Drive – A property valued at $1 million (GHS 15 million).
No. 6 Edith Avenue – Purchased with an initial cash deposit of $500,000, part of a deal involving five houses.
No. 7 Edith Avenue – Acquired for $200,000.
The rest are:

Authorities suspect these acquisitions were made using misappropriated state funds. Further investigations have uncovered that Boahene and his wife registered approximately ten companies under Advantage Solutions Limited, a corporate entity allegedly used to cover up illicit transactions.s

Meanwhile, Dr. Ayeni has warned banks against facilitating any further transactions related to the case, emphasizing that financial institutions and individuals involved will face prosecution.

Additionally, all assets linked to Boahene and his associates are under surveillance, with movements being closely monitored.