–By Daniel Bampoe
National Security operatives launched a surprise dawn operation at the residence of former GIHOC Distilleries Managing Director, Maxwell Kofi Jumah, on Thursday, May 15, 2025, in an attempt to retrieve government vehicles allegedly acquired under questionable circumstances.
The raid, which took place around 5:00 am, is part of a wider probe into alleged financial malfeasance during Jumah’s tenure.
Kofi Jumah, who served as Managing Director of the state-owned beverage production company under former President Nana Addo Dankwa Akufo-Addo’s administration, was not present at his home during the operation.
However, sources confirm that the raid is directly linked to ongoing investigations into how state assets—particularly high-value vehicles—were acquired by the former executive at heavily discounted prices.
Genesis G90 Controversy
At the heart of the investigation is a luxury Genesis G90 saloon car (registration number GE 86 22-19), which was initially valued at over $100,000.
Documents revealed that Kofi Jumah purchased the vehicle in 2019 for just GH¢4,943.11—approximately 5% of its estimated worth.
This purchase was reportedly approved by GIHOC’s Board of Directors as part of his end-of-service entitlements, as outlined in his Conditions of Service.
However, an independent valuation by the State Transport Company (STC) placed the vehicle’s actual value at GH¢98,862.00.
The appraisal, conducted by professional valuer, Daniel K. Orhin, raised red flags regarding the enormous price discrepancy, fueling suspicions of asset undervaluation and potential abuse of office.
Additional Vehicles in Question
Further investigations revealed that Kofi Jumah may have retained two other high-value state vehicles without formal authorization.
One of the cars, an Audi reportedly worth over $60,000, had been in the possession of his son.
Reports indicate that following mounting pressure, Jumah ordered the return of the vehicles.
At least one of them has since been successfully retrieved and transported back to Accra.
Allegations of Mismanagement
Beyond the vehicle acquisitions, Jumah’s administration at GIHOC is also under scrutiny for financial mismanagement.
According to internal company sources, he is accused of inflating staff numbers, which allegedly placed undue financial strain on the company’s budget.
These claims, if substantiated, could point to a pattern of administrative excess and disregard for institutional controls.
Moreover, Kofi Jumah is alleged to have authorized the sale of GIHOC-owned properties located in Tema, valued at over $700,000, without the necessary board approvals.
This move, which may constitute a breach of fiduciary duty, is now being examined as part of the broader investigation into his stewardship.
Political and Legal Implications
The development marks a significant moment in the post-Akufo-Addo political landscape, as the current administration tightens oversight on public sector corruption.
Maxwell Kofi Jumah, a prominent figure within the New Patriotic Party (NPP), now finds himself at the center of a legal and political storm that could have far-reaching consequences.
While Jumah has yet to publicly respond to the allegations, the Ghana Police Service and National Security are said to be working closely with the Attorney General’s Department to determine the next steps in the case.
