Wontumi’s GH₵7 Million EXIM Bank Loan for Farm was Destroyed by Floods — Paul Yandoh

Paul Kwabena Yandoh, Ashanti Regional Communications Director of the New Patriotic Party (NPP), has defended Bernard Antwi Boasiako, popularly known as Chairman Wontumi, amid ongoing investigations by the Economic and Organised Crime Office (EOCO).

Yandoh revealed during an interview on the Ghana Se Sen Show with Kwame Tanko on Lawson TV/Radio that Wontumi secured a GH₵7 million loan from EXIM Bank intended to support his farming venture. Unfortunately, the farm was devastated by severe flooding, causing the loan-funded project to collapse.

“The GH₵7 million loan Wontumi obtained from EXIM Bank was used to develop his farm, which was destroyed by floods,” Yandoh explained. He added that EXIM Bank officials, who also serve as farm managers, are fully aware of the flood damage and that the farm was insured.

Despite this, Wontumi has faced arrest and legal challenges. Yandoh described the arrest as a “Rambo-style” operation, involving masked and heavily armed officers who stormed the Chairman’s residence.

He also criticized the bail conditions imposed, which included a GH₵50 million surety limited to landed property in Accra, noting that Wontumi himself was barred from bailing himself out.

The NPP spokesperson questioned the motives behind the aggressive treatment of Wontumi, suggesting the case is politically motivated.

“If taking a loan from a bank is a crime, then many Ghanaians are at risk,” Yandoh said. He urged that the law should take its course without political interference.

Wontumi is currently required to report to EOCO every three days as part of the ongoing investigation.