Adu Boahen Trial: AG’s Figure Overstated By GH¢8m –Witness

Edith Ruby Opokua Adumuah, Head of Finance at the National Signals Bureau (NSB) has stated that based on officially published Bank of Ghana exchange rates, GH¢49.1 million could not, at any material time in 2020 or 2021, be the cedi equivalent of US$7 million as alleged by the prosecution.

Testifying as the second prosecution witness (PW2) under cross-examination on Thursday, Madam Adumuah told the General Jurisdiction 10 of the High Court, presided over by Justice Eugene Nyadu Nyante, that the prevailing exchange rates at the time ranged between GH¢5.2793 and GH¢5.7573 to the US dollar.

This, she explained, translates into the Attorney-General’s figure being overstated by GH¢8,010,000.

She also agreed to the suggestion  of not knowing the purpose of the three cheques totalling GH¢49.1 million, explaining that under national security “need-to-know” protocols, only top-level officials would have such clearance to know.

Samuel Atta-Kyea, lead counsel for the former NSB Director-General, Mr. Kwabena Adu-Boahene and two others, was conducting the cross-examination.

The State was represented by Deputy Attorney-General (FAG), Dr. Justice Srem-Sai, assisted by Esi Yankah and Rabiatu Abdulai.

Establishing the foundation to prove the defence case, Mr. Atta-Akyea tested the witness’ competency: “So in your work as an accountant, you have a clear understanding of foreign exchange rates?”

Madam Adumuah replied, “Yes, my Lord.” She also agreed that “the Bank of Ghana officially states the cedi-to-dollar exchange rates” and that “these rates are publicly accessible on the Bank of Ghana website.”

When the defence sought to tender a Bank of Ghana exchange-rate document covering January 1 to December 31, 2020, the Deputy Attorney-General objected.

However, the court ruled in favour of the defence, with the presiding judge stating: “The interbank exchange rate is relevant.

“The witness is competent to aid in tendering the document. The Bank of Ghana exchange-rate document is to be received as evidence.”

Admission of Bank of Ghana exchange-rate document

Atta Akyea: “My Lord, I seek to tender the Bank of Ghana exchange-rate document from 1st January 2020 to 31st December 2020.”

Deputy Attorney-General: “The witness is not an official of the Bank of Ghana and has no personal knowledge of the contents of the document. Its relevance has not been established.”

Atta Akyea: “My Lord, under Section 9, Clause 2 of the Evidence Act, this document reflects publicly known facts that can assist the court.”

Judge: “The interbank exchange rate is relevant. The witness is competent to aid in tendering the document. The Bank of Ghana exchange-rate document is admitted in evidence.”

SWIFT transfer and April 2020 calculations

Atta Akyea: What is Exhibit B3?

Adumuah: A SWIFT transfer from Fidelity Bank to ISC Holdings.

Atta Akyea: What is the amount transferred?

Adumuah: “US$87,500.

Atta Akyea: What is the date of the transfer?

Madam Adumuah: 6th April, 2020.

Atta Akyea: Who is the ordering customer?

Adumuah: Coordinator’s Account–NSC.

Atta Akyea: What was the cedi exchange rate for this transfer?

Adumuah: 5.87.

Atta Akyea: What is the cedi equivalent of US$87,500 at that rate?

Adumuah: GH¢513,625.

Atta Akyea: Do such payments reflect in the bank statements of Special Operations Accounts?

Adumuah: Yes, my Lord.

Atta Akyea: At an exchange rate of 5.87 as at 6th April 2020, what is the cedi equivalent of US$7 million?

Adumuah: GH¢41,090,000.

Atta Akyea: GH¢41,090,000 is not equal to GH¢49,100,000?

Adumuah: Yes, my Lord.

Atta Akyea: What is the difference?

Adumuah: GH¢8,010,000.

June 2021 transfer and calculations

Atta Akyea: Who is the sender on the SWIFT advice dated 8th June, 2021?

Adumuah: Fidelity Bank.

Atta Akyea: Who is the ordering customer?

Adumuah: Coordinator’s Account–NSB.

Atta Akyea: Who is the beneficiary?

Adumuah: ISC Holdings.

Atta Akyea: What amount was transferred?

Adumuah: US$100,000.

Atta Akyea: What is the cedi equivalent?

Adumuah: GH¢585,000.

Atta Akyea: At what exchange rate?

Adumuah: 5.85.

Atta Akyea: At this rate, what does GH¢49.1 million convert to in dollars?

Edith Ruby Opokua Adumuah: US$8,393,062.

Atta Akyea: What is the cedi equivalent of US$7 million at 5.85?

Adumuah: GH¢40,950,000.

Atta Akyea: So GH¢49.1 million cannot convert to US$7 million at that rate?

Adumuah: Yes, my Lord.

Highest and lowest exchange rates in 2020

Atta Akyea: What was the highest cedi-to-dollar exchange rate in 2020?

Adumuah: 5.7573 as at 31st December, 2020.

Atta Akyea: What is the cedi equivalent of US$7 million at that rate?

Adumuah: GH¢40,301,100.

Atta Akyea: What was the lowest exchange rate?

Adumuah: 5.2793 as at 24th June, 2020.

Atta Akyea: What does US$7 million translate to at that rate?

Adumuah: GH¢36,955,100.

Purpose of the GH¢49.1 million

On the purpose of the cheques, Mr. Atta Akyea asked, “In your position as head of finance under the National Security Coordinator, can you tell what the GH?49.1 million, the total of three cheques, were for?” She replied, “My Lord, I do not know.”

Atta Akyea pressed, “You will not know as on account of need-to-know policy, you don’t have clearance to know?” She said, “Yes, my Lord.”

He clarified, “So you agree that National Security persons with clearance to know will know?” She confirmed, “Yes, my Lord.”

When asked, “Now for these three cheques totalling GH?49.1 million, who will have the clearance to know the purpose of the funds?” Witness replied, “My Lord, I assume the Director General, National security Coordinator, maybe the minister of the National security or anybody at the topmost hierarchy of the National Security Council.”

Routine practice

Mr. Atta Akyea also explored the control of Special Operations Accounts by asking “Before the establishment of NSB on 29th December, 2020, all funding and financial operations of the BNC department in the office of National Security Coordinator were conducted under the authority of the National Security Coordinator?” She replied, “Yes, my Lord.”

He further asked, “Who opened the Special Operations Account in Fidelity Bank?” She said, “The National Security Coordinator, the late Joshua Kyeremeh.”

He continued, “You have also confirmed that the late Kyeremeh was a signatory to the Special Operations Account with Fidelity Bank?” She replied, “Yes, my Lord.”

Mr. Atta Akyea added, “It follows from what you told this Honourable Court that it is the National Security Coordinator who controls all financial transactions of BNC?” and she confirmed, “Yes, my Lord.”

He further asked, “Kwabena Adu-Boahene, before the establishment of NSB on 29th December, 2020, could never transact any financial business on the Fidelity Bank Account without express approval and participation of the National Security Coordinator?” She replied, “Yes, my Lord.”

Nature of Accounts

He pressed on the nature of accounts, asking “The Account described as ‘Director BNC’ is not a general administration account. Is that not so?” She replied, “Yes, my Lord.”

He added, “You will agree with me that all Special Operations Accounts, including the one referred to as ‘Director BNC,’ have not been subjected to the Auditor-General’s routine audits?” She confirmed, “Yes, my Lord.”

Mr. Atta Akyea also clarified the role of institutions in fund transfers. He asked, “From Exhibit A, which you’re holding, it is the National Security Secretariat that is requesting the transfer of funds and not the BNC?”

Ms. Adumuah confirmed, “Yes, my Lord, the account number is the Coordinator’s Account used for BNC operations.”

He asked, “It is the National Security Council Secretariat that made the request for the transfer of funds?” and she said, “Yes, my Lord.”

Following extensive questioning and testimony, the Presiding Judge, John Eugene Nyante Nyadu, adjourned the case to the 11th, 12th, and 13th of February 2026.

The post Adu Boahen Trial: AG’s Figure Overstated By GH¢8m –Witness appeared first on The Ghanaian Chronicle.

Read Full Story