Nana Agyei Baffour Awuah, the Member of Parliament for Manhyia South, has been accused of conspiring to commit a crime, willfully causing financial loss to a public body, and money laundering in connection with an alleged GH9.85 million loss at the state-owned SIC Life Savings and Loans Company Limited.
On October 3, 2026, Dr. Justice Srem-Sai, Deputy Attorney-General and Minister for Justice, brought the charges after the Economic and Organized Crime Office (EOCO) conducted an inquiry.
A lawyer and senior partner at Sarkodie Baffour Awuah & Partners, Nana Agyei Baffour Awuah, has entered a not guilty plea to all three charges.
According to the prosecution, the 44-year-old MP, who served as legal counsel for SIC Life, allegedly conspired with the company’s then Managing Director in 2024 to settle a judgment debt owed to the state-owned corporation, resulting in a loss of GH¢9.85 million.
The first count accuses him of conspiracy to deliberately squander public funds, in violation of Section 1(1) of the Public Property Protection Decree, 1977 (SMCD 140) and Section 23(1) of the Criminal Offences Act, 1960 (Act 29).
He is also charged with intentionally causing financial loss to a public body, in violation of Section 179A(2) of the Criminal Offences Act.
In violation of Section 1(2)(a)(ii) of the Anti-Money Laundering Act, 2020 (Act 1044), he is accused of money laundering in the third count.
The case’s background
According to the prosecution, SIC Life contracted Nana Baffour Awuah and his law firm in May 2020 to collect a GH¢6.3 million debt owed by Equity Savings and Loans Limited.
The law firm was entitled to 15% of the primary sum claimed, totaling GH¢945,152.81, for professional fees, as well as 1% for expenses, under the engagement.
In May 2020, SIC Life made a GH¢284,000 partial payment of the professional fees to the law practice.
On July 18, 2022, the Commercial Division of the High Court in Accra issued summary judgment in favor of SIC Life for GH¢10.86 million.
A 31.93-acre piece of property in Adamorobe near KAS Valley Estate at Oyibi in the Greater Accra Region, belonging to Equity, was attached on December 20, 2023, as part of attempts to enforce the judgment.
Later, the court appointed an auctioneer to sell the house at a public auction for a minimum of GH¢25 million.
According to the prosecution, the judgment debt had increased to GH¢14,850,776.14 by May 28, 2024.
Supposed agreement
According to the prosecution, Equity attempted to sell the land to Eco Swiss Investment Limited for GH¢21.76 million on March 14, 2024, despite the attachment.
It further asserts that inquiries indicated that Eco Swiss lacked legal incorporation at the time of the deal.
Eco Swiss had paid Equity GH¢5 million by July 2024 and then filed a notice of claim challenging the court attachment, which stopped the auction process, according to the prosecution.
According to the prosecution, Nana Baffour Awuah later supported a settlement between Eco Swiss, Equity, and SIC Life.
On July 18, 2024, Terms of Settlement were signed, wherein SIC Life committed to taking GH¢5 million in full resolution of its GH¢14.85 million judgment debt.
As a result, the prosecution claims that SIC Life suffered a loss of GH9.85 million due to the settlement.
As part of the settlement, Eco Swiss also had to pay Nana Baffour Awuah and his legal practice GH¢2.2 million in legal fees and GH¢1 million in auctioneer fees.
According to the prosecution, the Managing Director of SIC Life entered into the settlement with Nana Baffour Awuah without obtaining previous authorization from the Ministry of Finance, the board of directors, or the shareholders of the firm.
Purported GH¢1m payment
The Attorney-General also claims that Nana Baffour Awuah wrote a check for GH¢1 million to the SIC Life Managing Director on November 11, 2024, soon after getting his legal fees.
According to the prosecution, the payment amounted to almost half of the GH¢2.2 million legal charge and was made to help the recipient escape the legal ramifications of a crime.
As a result, the MP is accused of transferring the GH¢1 million, even though they knew it was obtained via criminal activity.
Defence
The transaction was characterized as the squandering of public money, and Nana Baffour Awuah’s attorneys rejected this characterization.
Samuel Atta Akyea, his attorney, informed the High Court that the deal came from legal work done by the MP’s old law firm to collect money owed to SIC Life by Equity Savings and Loans.
The defense has maintained that the agreement was a business transaction and contested the prosecution’s description of the GH¢9.85 million as a loss.
Additionally, the MP informed the investigators via his lawyers that the subjects under inquiry pertained to tasks done by his previous legal firm.
Bail
The High Court in Accra granted Nana Baffour Awuah a GH¢10 million bail with two sureties on October 3 after he entered a not guilty plea to the allegations. The court further mandated him to leave his passport at the Court Registry and to make himself available to EOCO whenever needed.
The bail came after he willingly gave himself up to EOCO on October 1st, after the organization had secured a High Court warrant for his arrest and a search of his office and residence.
Mr. Atta Akyea had asked the court to release the MP on self-recognizance bail, claiming that he was not a flight risk and had voluntarily reported to EOCO.
The prosecution did not object to bail, but requested the court to set conditions that would ensure the defendant remained available to investigators and the court.
Prior to a Case Management Conference set for November 2, the prosecution has been ordered by the court to submit its disclosures by October 22, 2026.
On October 26 and November 2, 2026, the MP is also anticipated to make another appearance before the court.
The accusations against Nana Baffour Awuah have not been heard or decided by the court.
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