The Bureau of National Intelligence has detained four persons connected to Power Distribution Services over the alleged movement of substantial sums suspected to belong to the Electricity Company of Ghana, according to the Minister of State responsible for Communications, Felix Ofosu Kwakye.
In a social media update titled “Oral Update,” Mr Kwakye disclosed that the apprehensions form part of an ongoing inquiry into financial transactions involving large volumes of funds believed to be attributable to ECG. He named the individuals as Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh, noting that all four have subsequently been granted bail as investigative processes continue.
PDS assumed operational control of ECG on 1 March 2019 under a long term concession arrangement supported by the Millennium Challenge Compact between the Government of Ghana and the Millennium Challenge Corporation. The arrangement, however, unraveled within a short period after official inquiries determined that crucial financial guarantees, reportedly attributed to Al Koot Insurance and Reinsurance Company, lacked authenticity. Judicial authorities in Qatar, including the Court of Cassation, later affirmed that the guarantees in question were falsified.
The discontinuation of the concession carried significant financial implications, culminating in the loss of approximately 190 million dollars in compact support from the Millennium Challenge Corporation.
Subsequently, PDS commenced arbitral proceedings in London, seeking compensation alongside a declaration that the termination had been improper. However, in November 2025, the London Court of International Arbitration rejected the entirety of the company’s claims, concluding that the presence of fraudulent guarantees validated the government’s decision to end the agreement.
Notwithstanding that determination, persistent questions have remained regarding the management of ECG revenues throughout the concession interval, matters that the present investigation by state authorities now appears to be examining in detail.
