Atlas Commodities Limited has robustly defended itself against a series of allegations linking its operations to its founding CEO, Ato Boateng, who now holds a prominent position at the Ghana Cocoa Board (COCOBOD), dismissing the claims as misleading and mischievous.

These denials come in response to public accusations made by Old Tafo MP Vincent Ekow Assafuah, who has called for a full criminal investigation by the Office of the Special Prosecutor and the Commission on Human Rights and Administrative Justice (CHRAJ).

Central to the allegations is the assertion that Mr. Boateng is leveraging his role as Deputy Chief Executive at COCOBOD to benefit Atlas Commodities, a claim the company vehemently denies.

According to Atlas, Mr. Boateng resigned as Director and Managing Director on January 20, 2025, several weeks prior to his COCOBOD appointment, and on the same day executed a Deed of Blind Trust, transferring all his shares and completing necessary documentation.

Mr. Boateng confirmed he fully complied with public sector transparency requirements by declaring his interest in Atlas Commodities as part of his Assets and Liabilities Declaration submitted to the Auditor-General.

He further clarified that his department does not supervise Licensed Buying Companies, as regulatory oversight falls under a separate Deputy Chief Executive, ensuring his office has no direct role in regulating buying companies.

Regarding allegations of exploiting state infrastructure, Atlas provided documentation proving its working relationship with the state-owned Produce Buying Company (PBC) significantly predates Mr. Boateng's COCOBOD appointment, with a Memorandum of Understanding signed in October 2023.

These agreements established a purely commercial arrangement where Atlas used PBC's operational infrastructure in exchange for providing financing support, international offtaker connections, and funding for Rainforest Alliancecertification.

Atlas did acknowledge a temporary use of PBC depot facilities in the Volta Region in December 2025, describing it as a procedural lapse initiated at the district level to prevent cocoa smuggling, rather than political interference.

Addressing claims that Atlas operates without its own warehouses, the company firmly stated this is false, maintaining operational depots in major cocoa-growing areas across the Ashanti, Eastern, Central, and Western South regions since beginning operations in 2018.

Atlas Commodities categorically denied benefiting from state seed funds, explicitly stating it has not received a single pesewa from COCOBOD since the 2024/2025 cocoa season, as the advance capital arrangement ended in 2024/2025.

Under its current financing model, Atlas obtains pre-financing from private offtakers and local banks, with payments only flowing back after independent buyers settle their accounts with COCOBOD, a structure that inherently limits any opportunity for fund redirection.

While Atlas remains confident a proper review will vindicate its position, the Minority continues to press for a forensic audit of warehouse registrations, cocoa movement records, and full disclosure from COCOBOD and National Security.