Baffour Awuah granted GH¢10m bail after pleading not guilty to dissipation of public funds, causing financial loss and money laundering

Manhyia South Member of Parliament, Nana Agyei Baffour Awuah, has been granted bail in the sum of GH¢10 million with two sureties after pleading not guilty to three charges brought against him by the Economic and Organised Crime Office (EOCO).

The MP was arraigned before an Accra High Court on Saturday, October 3, following his arrest and detention by EOCO in connection with an ongoing investigation into transactions involving SIC Life Savings and Loans.

Baffour Awuah pleaded not guilty to conspiracy to commit intentional dissipation of public funds, intentionally causing financial loss to the state and money laundering.

As part of the bail conditions, the court ordered the MP to provide two sureties and deposit his passport with the court.

His bail brings to an end several days of uncertainty over his continued detention after he voluntarily surrendered himself to EOCO on Thursday, October 1, following the issuance of an arrest warrant by the High Court.

EOCO had said it was working with the Office of the Attorney-General to bring the MP before a weekend court, while denying earlier reports that he had been granted GH¢50 million bail. The agency said Baffour Awuah was cooperating with investigators and that it was mindful of the constitutional timeframes governing detention and bail.

The arrest followed a warrant obtained by EOCO after the agency told the court it had exhausted reasonable means of securing the MP’s voluntary attendance for questioning. The warrant also authorised searches for and seizure of documents considered relevant to the investigation.

The investigation relates to alleged unauthorised financial transactions involving SIC Life Savings and Loans and includes allegations of financial loss, dissipation of public funds and money laundering, among other matters. Deputy Attorney-General Justice Srem-Sai previously confirmed that the investigation involved alleged transactions at SIC Life Savings and Loans.

The case has generated considerable political and legal attention, particularly over the circumstances of the MP’s arrest and his subsequent detention.

Baffour Awuah’s lawyer, Samuel Atta Akyea, has rejected the allegations against his client, maintaining that the transactions under investigation arose from legitimate legal work undertaken by his law firm for SIC Life Savings and Loans.

According to Mr Atta Akyea, the law firm had been instructed to recover an investment made by SIC Life with Equity Savings and Loans, and the recovery process resulted in court proceedings and a judgment. He questioned how the legal services provided could constitute criminal conduct.

Parliament also raised concerns over the MP’s continued detention before his arraignment. In a statement issued on Saturday, Parliament said that while MPs were not above the law, any decision to continue holding Baffour Awuah after he voluntarily presented himself to EOCO should have “a clear and demonstrable basis in law and necessity.”

Parliament further argued that where the purpose of securing a person’s attendance had already been achieved through voluntary appearance, continued detention should not become routine or punitive.