The Member of Parliament for Manhyia South, Nana Agyei Baffour Awuah, has been charged with conspiracy to commit a crime, intentionally causing financial loss to a public body and money laundering over an alleged GH¢9.85 million loss involving state-owned SIC Life Savings and Loans Company Limited.

The charges were filed by Deputy Attorney-General and Minister for Justice, Dr Justice Srem-Sai, on 3 October 2026, following investigations by the Economic and Organised Crime Office (EOCO).

Nana Agyei Baffour Awuah, a lawyer and Senior Partner at Sarkodie Baffour Awuah & Partners, has pleaded not guilty to all three charges.

According to the prosecution, the 44-year-old MP, while acting as legal counsel for SIC Life, allegedly agreed with the company’s then Managing Director in 2024 to compromise a judgment debt owed to the state-owned company, resulting in a loss of GH¢9.85 million.

The first count charges him with conspiracy to intentionally dissipate public funds, contrary to Section 1(1) of the Public Property Protection Decree, 1977 (SMCD 140) and Section 23(1) of the Criminal Offences Act, 1960 (Act 29).

The second count accuses him of intentionally causing financial loss to a public body, contrary to Section 179A(2) of the Criminal Offences Act.

The third count charges him with money laundering, contrary to Section 1(2)(a)(ii) of the Anti-Money Laundering Act, 2020 (Act 1044).

Background to the case

The prosecution says SIC Life engaged Nana Baffour Awuah and his law firm in May 2020 to recover a debt of GH¢6.3 million owed by Equity Savings and Loans Limited.

Under the engagement, the law firm was entitled to professional fees of 15 per cent of the principal sum claimed, amounting to GH¢945,152.81, in addition to 1 per cent for expenses.

SIC Life paid GH¢284,000 to the law firm as part-payment of the professional fees in May 2020.

On 18 July 2022, the High Court’s Commercial Division in Accra entered summary judgment in favour of SIC Life for GH¢10.86 million.

As part of efforts to execute the judgment, a 31.93-acre parcel of land belonging to Equity at Adamorobe, near KAS Valley Estate at Oyibi in the Greater Accra Region, was attached on 20 December 2023.

The court subsequently appointed an auctioneer to sell the property by public auction, with a reserve price of GH¢25 million.

By 28 May 2024, the prosecution says the judgment debt had increased to GH¢14,850,776.14.

Alleged settlement

The prosecution alleges that despite the attachment, Equity purported to sell the land on 14 March 2024 to Eco Swiss Investment Limited for GH¢21.76 million.

It further alleges that investigations established that Eco Swiss was not legally incorporated at the time of the transaction.

According to the prosecution, Eco Swiss had paid Equity GH¢5 million by July 2024 and subsequently filed a notice of claim challenging the court attachment, which stalled the auction process.

The prosecution alleges that Nana Baffour Awuah subsequently encouraged a settlement involving SIC Life, Equity and Eco Swiss.

Terms of Settlement were executed on 18 July 2024, under which SIC Life agreed to accept GH¢5 million in full settlement of its GH¢14.85 million judgment debt.

The prosecution therefore alleges that the settlement resulted in a loss of GH¢9.85 million to SIC Life.

Under the settlement, Eco Swiss was also required to pay GH¢2.2 million in legal fees to Nana Baffour Awuah and his law firm, while GH¢1 million was to be paid as auctioneer fees.

The prosecution alleges that the settlement was entered into by the Managing Director of SIC Life in concert with Nana Baffour Awuah without prior approval from the company’s board, shareholders or the Ministry of Finance.

Alleged GH¢1 million payment

The Attorney-General further alleges that on 11 November 2024, shortly after receiving his legal fees, Nana Baffour Awuah issued a cheque for GH¢1 million to the then Managing Director of SIC Life.

The prosecution alleges that the payment represented nearly half of the GH¢2.2 million legal fee and was made to assist the recipient to evade the legal consequences of a crime.

The charge sheet consequently accuses the MP of transferring the GH¢1 million while knowing that the money had been acquired through crime.

Defence

Nana Baffour Awuah’s lawyers have rejected the characterisation of the transaction as the dissipation of public funds.

His lawyer, Samuel Atta Akyea, told the High Court that the transaction arose from legal work undertaken by the MP’s former law firm to recover funds owed to SIC Life by Equity Savings and Loans.

The defence has maintained that the settlement was a commercial transaction and disputed the prosecution’s characterisation of the GH¢9.85 million as a loss.

The MP also told investigators, through his lawyers, that the matters under investigation related to work undertaken by his former law firm.

Bail

Nana Baffour Awuah was granted GH¢10 million bail with two sureties by the High Court in Accra on 3 October after pleading not guilty to the charges. The court also directed him to deposit his passport with the Court Registry and make himself available to EOCO whenever required.

The bail followed his voluntary surrender to EOCO on 1 October, after the agency had obtained a High Court warrant for his arrest and searches of his office and residence.

Mr Atta Akyea had urged the court to grant the MP self-recognisance bail, arguing that he was not a flight risk and had voluntarily reported to EOCO.

The prosecution did not oppose bail but asked the court to impose conditions that would ensure the accused remained available to investigators and the court.

The court has directed the prosecution to file its disclosures by 22 October 2026, ahead of a Case Management Conference scheduled for 2 November.

The MP is also expected to reappear before the court on 26 October and 2 November 2026.

The allegations against Nana Baffour Awuah have not been tested or determined by the court.