Ghana: Four PDS officials arrested over alleged transfer of Gh¢850million from ECG’s CalBank account

Four officials linked to the defunct Power Distribution Services (PDS) Ghana Limited, the company that took over the operation of the Electricity Company of Ghana (ECG) under a concession arrangement, were last week arrested by the Bureau of National Investigations (BNI) for their alleged involvement in the transfer of GH₵850 million from ECG’s CalBank account.

The funds were allegedly transferred during arbitration proceedings in London between ECG and PDS, following the termination of the concession by the previous administration due to a faulty demand guarantee presented by PDS.

Minister of State in charge of Government Communications, Felix Kwakye Ofosu, revealed this on Monday, May 4, in a statement posted on X.

The four individuals are Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh.

According to the minister, all four suspects have since been granted bail while investigations continue.

“The Bureau of National Investigations (BNI) arrested the following persons affiliated with PDS last week as part of investigations into the transfer of large sums of money believed to belong to ECG,” the statement read.

“The quartet have since been granted bail pending further investigations,” the minister’s post added.