He said the contract was for the purchase of a “Cyber Defence System Software” at a price of US$ 7 million.
Dr Ayinne said on February 6, 2020, Mr Adu-Boahene transferred an initial GH¢ 27.1 million from the BNC’s Operations Account at Fidelity Bank into his private BNC account at UMB Bank.
The Attorney-General pointed out that official documentation on the transfer revealed that the amount was for the payment of a “Cyber Defense System Software” which the BNC was buying from ISC Holdings in Israel.
Dr Ayinne said a review of the transactions on the bank accounts reveals that once the funds from BNC landed in the account of his private BNC at UMB Bank, Mr Adu-Boahene caused his private BNC to transfer GH¢ 9,537,520 to ISC Holdings Ltd.
Dr Ayine said that with the exchange rate at the time, this amount was Ghana cedi equivalent of US$ 1,750,000.
To justify or facilitate the transfer of the GH¢ 9,537,000 (US$1,750,000), the Attorney-General said Mr Adu-Boahene fraudulently attached a copy of the GOG-ISC Contract as well as an invoice which he held out as invoice issued by ISC Holding Limited on the GOG-ISC Contract.
Dr Ayine said that on March 18, 2020, and March 30, 2020, respectively, Mr Adu-Boahene again transferred GH¢ 1,000,000 and GH¢21,000,000 from BNC Directors’ Account at Fidelity Bank to the same Private BNC Account at UMB.
The narration of the transactions indicated that it was for the payment of the “Cyber Defence Systems” that the National BNC was buying, Dr Ayine said.
He said the transfers from the BNC’s bank account brought the total transfers that Mr Adu-Boahene made to his Private BNC to GH¢ 49,000,000.
The Attorney-General said by the exchange rate at the time, this amount was exactly the Ghana cedi equivalent of US$ 7,000,000 – the exact full amount which he quoted as the price at which ISC Holdings sold the Cyber Defence System Software. All the payments referenced the invoice number from ISC Holdings to the BNC.
Mr Adu-Boahene was arrested by a team of investigators from the Economic and Organised Crime Office (EOCO) on Thursday March 20, 2025, at the Kotoka International Airport as he disembarked from a British Airways flight.
The Attorney-General said investigations revealed that after the initial transfer of the GH¢ 9,537,520 (US$ 1,750, 000) from the Private BNC to ISC Holding, no further payments were made to ISC Holdings.
BY MALIK SULLEMANA
