FIC Exposes 53 Companies, 25 Entrepreneurs in Financial Scandal

In a decisive move to combat corruption and financial misconduct, Ghana’s Financial Intelligence Centre (FIC) has identified 53 companies and 25 entrepreneurs suspected of engaging in suspicious financial activities. The FIC mandated to detect and analyze potential money laundering and terrorist financing activities, conducted thorough investigations leading to these findings. The implicated entities span various sectors, including cement production, agribusiness, petrochemicals, mining, pharmaceuticals, and construction.

An FIC management source emphasized the seriousness of these infractions, stating that while some companies appear reputable externally, internal analyses have uncovered significant financial violations. Should these findings be substantiated in court, severe penalties, including imprisonment, may be imposed. The FIC also intends to publicly disclose the names of guilty parties to serve as a deterrent.

In a related development, the Office of the Special Prosecutor (OSP) is collaborating with the FIC to strengthen inter-agency efforts against financial crimes. On March 11, 2025, Special Prosecutor Kissi Agyebeng met with FIC’s new CEO, Albert Kwadwo Twum Boafo, to discuss strategies for enhancing cooperation in tackling corruption and financial malfeasance. 

The FIC serves as Ghana’s central agency for receiving and analyzing suspicious transaction reports related to money laundering, terrorist financing, and proliferation financing. Utilizing advanced technology and a dedicated team, the FIC collaborates with law enforcement agencies, regulators, and private sector entities to address financial crimes effectively.

This initiative underscores the government’s commitment to creating a transparent and accountable financial environment, aiming to deter illicit financial activities and promote economic integrity.