FIC freezes Bank Accounts of Chairman Wontumi and Akonta Mining over alleged financial irregularities

The Financial Intelligence Centre (FIC) has frozen all bank accounts belonging to Bernard Antwi Boasiako, popularly known as Chairman Wontumi, and his mining firm, Akonta Mining.

This move forms part of an ongoing investigation under Section 56(1) of the Anti-Money Laundering Act, 2020 (Act 1044), which empowers the FIC to take such action when there are suspicions of illicit financial activity.

In addition to Wontumi and Akonta Mining, accounts associated with Hallmark Civil Engineering Limited have also been frozen. A letter from the FIC directed all financial institutions to comply with the freeze “pending further directives.”

Chairman Wontumi, who also serves as the Ashanti Regional Chairman of the New Patriotic Party (NPP), and Akonta Mining have been under public scrutiny in recent weeks. The Minerals Commission recently revoked Akonta Mining’s license at the directive of the Minister for Lands and Natural Resources.

At a press briefing on Monday, April 21, 2025, Lands Minister Emmanuel Armah-Kofi Buah branded Akonta Mining as a “criminal syndicate,” accusing the company of engaging in illegal operations within protected forest reserves.

The FIC, under the leadership of Ing. Kwadwo Twum Boafo, has ramped up its efforts to tackle money laundering and financial crimes. In recent months, it has taken similar actions against other high-profile individuals and businesses, including businessman Richard Nii Armah Quaye and his companies in March.

Additionally, the accounts of former Finance Minister Ken Ofori-Atta and former Deputy Executive Director of the National Service Authority, Gifty Oware-Mensah, were also frozen following investigations and directives from the Office of the Special Prosecutor.

The FIC’s latest action signals an intensifying crackdown on financial misconduct and its commitment to enforcing Ghana’s anti-money laundering laws