By Ashiadey Dotse
The Minister of State in charge of Government Communications, Felix Kwakye Ofosu, says the Bureau of National Intelligence (BNI) has arrested four individuals connected to Power Distribution Services (PDS) over the suspected transfer of funds believed to belong to the Electricity Company of Ghana (ECG).
In a Facebook post on Monday, May 4, 2026, the Minister said the arrests were made last week as part of ongoing investigations. In the post, titled “Oral Update”, Mr Kwakye Ofosu named the suspects as Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh.
He said the four have since been granted bail while investigations continue.
The development is linked to broader concerns about the handling of ECG funds during the period PDS managed the country’s power distribution system. PDS took over ECG operations on March 1, 2019, under a 20-year concession agreement supported by the Millennium Challenge Compact between the Government of Ghana and the United States’ Millennium Challenge Corporation.
However, the agreement was terminated just months later after government investigations revealed that key payment guarantees—reportedly issued by a Qatar-based insurance firm—were fraudulent. Courts in Qatar later confirmed that the guarantees were forged.
The collapse of the deal resulted in Ghana losing about 190 million dollars in funding from the Millennium Challenge Corporation.
Following the termination, PDS initiated arbitration proceedings in London, claiming wrongful termination and seeking damages. However, in November 2025, the London Court of International Arbitration dismissed all the claims, ruling that the government was justified in ending the agreement due to the fraudulent guarantees.
Despite the ruling, questions have remained about how ECG revenues were managed during the concession period. The current investigation by the BNI is expected to address those concerns.
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Source:
www.gbcghanaonline.com