The Attorney-General and Minister for Justice, Dr Dominic Ayine, has accused Wontumi Farms Limited of submitting forged documents in an GH¢18 million loan transaction with the Ghana Export-Import Bank (Exim Bank), as investigations into the deal uncover alleged irregularities in the use of the funds.
Speaking during the Government Accountability Series, on Monday, December 22, Dr Ayine said Exim Bank contracted several firms to support the implementation of the farming project under the Mining Alternative Livelihood Programme.
The initiative was designed to provide jobs for young people in mining communities affected by illegal mining activities.
According to the Attorney-General, IESO Agribusiness Consult, an investment advisory and agribusiness consultancy firm, was engaged to provide technical assistance to Antwi Farms Limited, while Eban Capital Limited, a financial technology and cash management services provider, was contracted on February 14, 2018, to establish a payment platform for workers expected to be employed by Wontumi Farms Limited.
Dr Ayine explained that Eban Capital was to manage salary payments, biometric registration and electronic disbursements for farm workers, using funds to be released directly from Exim Bank.
However, he said Wontumi Farms Limited failed to provide a database of workers to enable their integration onto the system.
“Wontumi Farms Limited failed to provide a database of farm hands because there were no workers on the land,” Dr Ayine stated, adding that witnesses confirmed that no farming activity was taking place at the project site.
Despite this, the Attorney-General alleged that Bernard Antwi Boasiako, popularly known as Chairman Wontumi, acting as Chief Executive Officer of the company, pressured Eban Capital and Exim Bank to transfer about GH¢400,000 meant for workers directly to Wontumi Farms Limited.
He said the justification given was that some of the youth formerly engaged in illegal mining were unfamiliar with electronic payment systems and preferred cash payments.
Dr Ayine further disclosed that as part of the loan application process, Wontumi Farms Limited submitted a pro forma invoice dated December 15, 2017, for the purchase of farm equipment including tractors, combine harvesters, corn seeders and Wellington boots.
He said Exim Bank later demanded proof of purchase of the equipment after disbursing the loan.
In response, Chairman Wontumi submitted a document purporting to be a receipt from Kasama Enterprise on March 18, 2018, indicating payment of about GH¢4 million.
However, investigations revealed that the equipment listed on the document included bulldozers and excavators, which raised red flags, as such machinery did not align with the stated farming activities of the project.
According to Dr Ayine, further investigations established that Chairman Wontumi had obtained an invoice from Kasama Enterprise, an industrial equipment dealer, with a promise to return to complete the purchase, but never did.
“Instead, he forged the invoice by removing the word ‘invoice’ and replacing it with ‘receipt’,” the Attorney-General alleged, added that the forged document was subsequently submitted to Exim Bank as proof that the equipment had been purchased after the loan was disbursed.
Dr Ayine said investigations into the matter are ongoing, stressing government’s commitment to accountability, transparency and the protection of public funds.
