Is there Implication for Liberia?
IBank shareholder reportedly declared wanted by Interpol & Ghana for corruption. IBBank former CEO, now Liberia’s CBL Governor allegedly also linked.
Investigations reveal that IBBank shareholder and former Ghanaian Finance Minister (2016-2025) Ken Ofori Atta is reportedly wanted by the government of Ghana to answer to corruption charges in excess of $100 million US dollars, including spending over fifty million dollars on a National Cathedral project that was never built.
An international Interpol alert, currently on Interpol’s website has been issued alerting all airports to ensure Mr. Ofori-Atta is arrested on site at any airport and returned to Ghana to answer to several charges of corruption.
The former finance minister is wanted to answer to charges that show the misuse of taxpayer funds for his personal benefit.
Mr. Ofori Atta has been a shareholder at IBBank Liberia for over fifteen years in which time he also served as Minister of Finance in Ghana for eight years. He allegedly used his influence to have his former CEO at IBBank, Henry Sammoi appointed CBL Governor in Liberia.
It is alleged that Ken Atta authorized contracts between the government of Ghana and his personal companies to benefit himself and his family.
One such instance includes Data Bank Ghana, his personal firm he started years ago.
DataBank allegedly earned advisory fees for every bond the Ghanaian government applied for.
Those fees allegedly amounted to about 15 million US dollars, those fees may have been diverted to his companies in Gambia and Liberia once Ghana began its investigations and raided his home earlier this year.
Some Ghanains are calling on the government of Ghana to freeze his assets and all of his companies assets, which may affect several companies, including Data Bank Ghana, IBBank Liberia and Trust Bank Gambia.
Quietly, some Liberian authorities are concerned that IB Bank may be affected and the corruption scandal in Ghana could spill over and affect the Liberia financial sector.
With the former CEO of IBBank, who reportedly worked closely with Ofori Atta now serving as the governor of the Central Bank of Liberia, the conflict of interest is alarming. It remains to be investigated if the Senate was aware of this corruption case prior to Sammoi’s confirmation as Governor.
As for cooperation, it is not clear to what extent Liberia has agreed to cooperate with Ghanaian authorities. Liberia is obligated to arrest him on sight, if he visits his company’s offices here.
Ghana has reportedly already arrested another CEO who worked with Mr. Ofori Atta and is connected to the charges of corruption, Mr. Christian Tetteh Sottoe, former CEO of SML Ghana.
Other connected arrests include the former Commissioner General of the Ghana Revenue Authority, Dr. Amoah and the former Commissioner of Customs.
As the corruption scandal continues to grow, the government also raided and searched the home of its own former Central Bank of Ghana Governor, Addison, who has ties to Mr. Ofori Atta.
Liberia cannot afford to be linked to this corruption saga and the Financial Intelligence Agency must take action quickly and ensure Liberian depositors are protected.
