Dr Sledge Nana Yaw Duodu is the Chief Executive Officer of Goldridge Refinery Limited
The Office of the Special Prosecutor (OSP) has reportedly arrested Dr Sledge Nana Yaw Duodu, Chief Executive Officer (CEO) of Goldridge Refinery Limited, who is believed to be a suspect in one of its ongoing investigations.
According to a report by myjoyonline.com, Dr Yaw Duodu was arrested over suspected corruption and corruption-related offences linked to the Minerals Income Investment Fund (MIIF), particularly in the management of its gold trade programme.
The report indicated that the state lost over US$94 million due to Goldridge’s failure to honour its obligations in trade transactions under the Gold for Forex and Gold for Oil initiatives.
It added that the CEO was detained after he failed to meet bail conditions.
It can be recalled that the OSP, in its half-year report, listed a probe into the Minerals Income Investment Fund (MIIF) as one of its high-profile cases.
The investigation covers payments linked to Agyapa Royalties, small-scale mining initiatives, lithium and gold projects, board expenditures, land acquisitions, and related contracts between 2020 and 2024.
According to the OSP, the probe focuses on suspected corruption and corruption-related offences in respect of MIIF’s operations within the period 2020–2024.
These are particularly regarding payments made in connection with Agyapa Royalties Limited; the Small-Scale Mining Incubation Programme (SSMIP); the Quarry Value Addition Programme (QVAP); lithium asset investments (a projected lithium-focused exploration and development corporation); the Enchi Gold Project; other MIIF investments; funds expended on the Chairman of the Board of Directors; MIIF’s operational funds; land acquisition for an intended office building; as well as contracts and agreements entered into by MIIF.
The investigation also targets some former and serving MIIF officials and the following entities:
Asante Gold Corporation
ElectroChem Ghana Limited
Goldridge Ghana Limited
GIG Minerals Limited
RCM Properties
Energy & Resources Company Limited
Goldstrom Ghana Limited
BH Minerals Limited
BAI/AE
