Ex-GIHOC Boss Kofi Jumah granted GH¢55m bail

The Economic and Organised Crime Office (EOCO) has granted bail to former Chief Executive of GIHOC Distilleries Company Limited, Maxwell Kofi Jumah, as investigations into alleged financial irregularities continue.

Mr Jumah, who was arrested on Wednesday, April 29, 2026, has been granted bail of GH¢55 million but remains in custody as his legal team struggles to meet the conditions.

Confirming the development, Paul Yandoh of the New Patriotic Party (NPP) said the bail terms are proving difficult to satisfy due to the scale of the amount involved.

“As of last night, he was given a bail bond of 55 million Ghana cedis before he can be released from custody. I don't have such an amount to come and bail him,” he said.

He indicated that efforts to secure bail have stalled, with lawyers unable to identify assets meeting the required threshold.

“The lawyers cannot find assets that can amount to that amount… so he is still in custody,” he added.

Mr Yandoh also questioned the basis for the bail sum, describing it as excessive in relation to the allegations under investigation.

“How can somebody go and sell scrap… and you are calling for over 550 million? Why?” he asked.

Mr Jumah's arrest followed a raid on his Kumasi residence as part of EOCO's ongoing investigation into possible breaches of public financial management protocols during his tenure at GIHOC Distilleries.

---CitiNewsRoom

---ModernGhana