The Office of the Special Prosecutor (OSP) says two major corruption probes — involving the Minerals Income Investment Fund (MIIF) programme and the alleged diversion of petroleum products by more than 30 Oil Marketing Companies (OMCs) — have reached advanced stages.
In a statement posted on its official Facebook page on Saturday, November 22, the OSP said it continues to push several high-value investigations forward, with rising public interest expected as the cases progress. The Office reaffirmed that its work remains anchored in due process, transparency and the protection of the public interest.
According to the update, the OSP disclosed that under the MIIF investigation, it has already undertaken key statutory measures — including the freezing of accounts, seizure of assets and restrictions placed on the movement of some individuals — as part of the ongoing probe.
The investigation centres on a gold-trading arrangement between MIIF and Goldridge Company Limited, introduced to support Ghana’s gold-for-oil and reserves programme intended to boost state revenue.
There are indications that the state may have advanced about US$94 million for gold purchases that were not fully delivered, prompting the OSP to open a corruption probe earlier in 2025.
In September 2025, the OSP confirmed that the Chief Executive Officer of Goldridge Company Limited, Nana Yaw Duodu, also known as Dr. Sledge had been invited and subsequently detained after failing to meet bail conditions in connection with the same matter.
Subsequently, the Office of the Special Prosecutor on October 29, raided the Trassaco residence of Dr Sledge, and at the East Legon offices of Goldridge Company Limited, as part of ongoing investigations into the Minerals Income Investment Fund gold trade programme.
The Minerals Income Investment Fund (MIIF), created under Act 978 of 2018 to manage Ghana’s mineral royalties and state mineral investments, introduced its gold-trade initiative to support the government’s gold-for-oil and gold-for-reserves policies through private-sector partnerships.
The second investigation involves an extensive fuel-diversion scheme in which more than 30 OMCs are being investigated for allegedly diverting marine gas oil, premix fuel and diesel. The OSP says the alleged diversions have major revenue implications, and efforts are underway to recover millions of cedis that should have accrued to the state.
The Office further noted that, in addition to these two maturing cases, several others — including the National Petroleum Authority (NPA) and Strategic Mobilisation Ghana Limited (SML) matters — are already before the courts.
The OSP emphasised that its mandate remains unchanged: to prevent, investigate and prosecute corruption, and to ensure the effective recovery and management of state assets as the cases advance toward possible prosecution.
