The Deputy Chief Executive responsible for Finance and Administration at the Ghana Cocoa Board (COCOBOD), Ato Boateng, has welcomed potential investigations by the Office of the Special Prosecutor (OSP) and the Commission on Human Rights and Administrative Justice (CHRAJ) into allegations of conflict of interest made against him.
The allegations, which concern his past association with Atlas Commodities Limited, were raised by the Minority in Parliament.
Led by the Old Tafo MP, Vincent Ekow Assafuah, the Minority has called for a full criminal investigation into the company’s operations.
They claim Atlas Commodities has been operating in warehouses registered under the Produce Buying Company (PBC) without proper authorisation, citing potential regulatory breaches and conflicts of interest.
In response, Boateng refuted the claims on February 23, calling them entirely false and baseless. He provided a detailed defence outlining his actions prior to assuming his current role at COCOBOD.
According to the statement, Boateng resigned as a director of Atlas Commodities Limited on January 20, 2025, before his appointment to the COCOBOD Board.
Furthermore, he transferred all his shares in the company to Edinam Yao Cofie and George Ofori, who now manage them as trustees.
To ensure full transparency and compliance with public service regulations, Boateng stated that he declared his previous interest in Atlas Commodities in his official Declaration of Assets and Liabilities, which has been duly lodged with the Auditor-General.
The statement also sought to clarify the operational structure of COCOBOD, emphasizing that the Board does not hold shares in PBC and therefore plays no role in its management decisions, further distancing itself from the specific allegations regarding warehouse authorisations.
Ato Boateng denied the allegations of conflict of interest raised by supporters of the New Patriotic Party (NPP), including Old Tafo MP Vincent Ekow Assafuah.
In a statement seen by The Herald, Ato Boateng rejected Assafuah’s claim that he has been using his position at COCOBOD to sway decisions in favour of Atlas Commodities Limited, a licensed buying company (LBC) he founded in 2018.
While welcoming calls from Assafuah for investigations by the Office of the Special Prosecutor (OSP) and CHRAJ, Boateng dismissed the allegations as baseless.
The statement clarified that he resigned from Atlas Commodities before joining COCOBOD, removing any possible conflict of interest.
“Ato Boateng incorporated Atlas Commodities in 2018 and managed it until his appointment as the Deputy CEO, Finance & Administration at Ghana Cocoa Board. Before his appointment on February 5, 2025, Ato Boateng resigned as director of Atlas Commodities Limited in January 2025. He also signed a transfer of shares in Atlas to a trust managed by Edinam Yao Cofie. Ato Boateng took on his role in February 2025. He declared his interest in Atlas Commodities Limited and the trust as part of the Asset and Liabilities Declaration required of public officers,” the statement read.
Additionally, Boateng’s letter of resignation addressed to the Chairman of the Board of Directors of Atlas Commodities Limited serves as evidence of his formal exit from the company.
The Herald has gathered from parliamentary sources that in the name of the Minority led by Alexander Kwamena Afenyo-Markin, Assafuah intends to intensify his onslaught on the Acting Deputy Chief Executive in charge of Finance and Administration, Ato Boateng, over allegations of conflict of interest and regulatory breaches.
Last week, the NPP MP launched a public attack on the COCOBOD leadership in a Facebook post titled “SCANDAL LOOMING AT COCOBOD”.
This week he intends to go the press conference route, as well as planted stories in selected newspapers to restate his case, hoping it gets an impact, however fleeting.
In the post, Assafuah alleged that cocoa farmers continue to endure hardship under the current COCOBOD administration due to what he described as “blatant insensitivity and possible abuse of office”.
He raised concerns about the leadership of COCOBOD under Chief Executive Dr Randy Abbey and his deputy, Ato Boateng, claiming that Boateng has an established professional association with Atlas Commodities Limited.
According to the MP, records at the Registrar-General’s Department, as well as publicly available information, indicate that Boateng has served as Chief Executive Officer of Atlas Commodities Limited since 2018, during the Akufo-Addo administration.
To support his claims, Assafuah attached a waybill issued in the name of Atlas Commodities Limited showing the movement of 800 bags of Grade One cocoa from Kedjebi during the 2025/2026 crop season.
He argued that the document raises legitimate questions about the private company’s operational role in the cocoa purchasing chain.
The Old Tafo MP further alleged that funds meant for Licensed Buying Companies (LBCs), including Produce Buying Companies (PBCs), to purchase cocoa were instead redirected to the private entity, with cocoa allegedly hoarded in anticipation of future price increases.
“These alleged activities are said to be taking place in parts of the Central and Eastern Regions, raising concerns about the scale of the operation,” he stated.
Assafuah questioned how COCOBOD, as the industry regulator, could be perceived to be operating, directly or indirectly, as a buying company within the same system it supervises.
“If true, this would represent a serious conflict of interest and a breach of regulatory integrity,” he said.
He also alleged that Atlas Commodities Limited does not operate its own warehouses but may be relying on existing PBC warehouse facilities.
“Most concerning is the allegation that Atlas Commodities may be operating within warehouses registered under PBC. COCOBOD regulations require that every warehouse be registered under a specific Licensed Buying Company.
If a warehouse is registered under PBC, it should not be used for the storage, grading, sealing, or processing of cocoa belonging to another company,” he added.
According to him, if proven, such an arrangement would constitute a serious regulatory breach and raise critical questions for district Quality Control officers responsible for oversight.
Assafuah further alleged that the Chief Executive had sat on a task force report related to these matters, thereby preventing the public from knowing the full extent of its findings.
“These are grave concerns that demand urgent and independent investigation. The matter has reportedly been brought to the attention of the Jasikan and Hohoe Police Stations.
Cocoa farmers deserve transparency, accountability, and protection from any actions that undermine their livelihoods,” he concluded.
However, The Herald understands that the MP is preparing to revive the issue this week, having failed to generate the level of public and institutional response he initially sought. He did this by holding a press conference on Monday, repeating his claims, which he had earlier stated on radio, Asempa FM.
Sources suggest that the renewed push may not be entirely rooted in parliamentary oversight, but could be influenced by individuals believed to have shown interest in the deputy chief executive position.
It is claimed that some had lobbied for the role, but President John Dramani Mahama ultimately opted for Boateng, citing his expertise at a time when COCOBOD is grappling with significant operational and financial challenges.
COCOBOD is currently saddled with debts exceeding GH¢32 billion, reportedly accumulated under the administration of former President Nana Akufo-Addo.
Several beneficiaries of the debt made payable due to senseless procurement contracts have been identified in political circles as business figures aligned with the opposition NPP.
Although the Mahama administration waited more than 13 months before ordering a forensic investigation into the debt, investigators are now said to be preparing to commence their work. At the same time, the Minority appears to be mobilising its campaign against the cocoa regulator.
The Herald will provide further updates on the matter in the coming days, including details of other individuals and interests said to be involved.
But for now, fingers are pointing at some officials at PBC as the sponsors of Assafuah’s attacks on the Deputy COCOBOD CEO, Ato Boateng, disguised as a legitimate parliamentary scrutiny.
