The Bureau of National Intelligence (BNI) has arrested four individuals affiliated with Power Distribution Services (PDS) as part of ongoing investigations into the alleged transfer of large sums of money believed to belong to the Electricity Company of Ghana (ECG).
The suspects—Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh—were picked up last week.
They have since been granted bail pending further investigations.
The development was disclosed on Monday, May 4, by Minister for Government Communications, Felix Kwakye Ofosu.
Accordimg to him, authorities are working to unravel the circumstances surrounding the movement of the funds and to establish any potential wrongdoing.
PDS was contracted in 2019 to take over the distribution operations of ECG under Ghana’s power sector reform programme, backed by the United States’ Millennium Challenge Corporation (MCC) Compact II.
The arrangement was expected to improve efficiency, reduce losses, and attract private sector investment into the country’s energy distribution system.
However, the concession was abruptly terminated later that year after the government cited concerns over the validity of key financial guarantees, particularly a demand guarantee that was meant to secure the transaction.
The fallout led to the suspension of PDS operations and the eventual return of ECG to full state control.
Authorities say investigations are ongoing, and further updates will be provided as the case develops.
Source: Starrfm.com.gh
