A team from Ghana’s National Security has reportedly conducted a raid on the residence of Maxwell Kofi Jumah, former Managing Director of the Ghana Industrial Holding Corporation (GIHOC), in connection with the alleged purchase of a state vehicle valued at $100,000 for a mere GH¢4,943.

The operation follows the emergence of documents suggesting a significant discrepancy between the initial value of the vehicle and the price at which it was acquired by the former GIHOC MD.

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According to the documents, signed by the company’s Secretary and Head of Administration, Apea Twumasi-Ankrah, the vehicle, originally valued at over $100,000, was sold to Mr. Jumah for GH¢4,943.11, representing approximately 5% of its estimated worth.

The alleged transaction has sparked public outcry and questions regarding transparency and potential abuse of office.

A statement circulating online questioned the knowledge of President Nana Addo Dankwa Akufo-Addo regarding the deal, stating, “You bought state vehicle worth $100,000 for GHc 4,943. Wow Nana Addo Dankwa Akufo-Addo were you aware of this?”

Further compounding the issue, independent valuation conducted by the State Transport Corporation reportedly placed the car’s value at GH¢98,862.00, significantly higher than the price at which it was allegedly sold to Mr. Jumah.

Details surrounding the National Security raid remain scarce, but it is understood to be part of an ongoing investigation into the circumstances surrounding the acquisition of the state vehicle. It is unclear if any arrests were made or items were seized during the operation.

This development is likely to fuel further debate in Ghana regarding accountability and the management of state assets.

Maxwell Kofi Jumah, a prominent figure in Ghanaian politics, has yet to publicly comment on the allegations or the reported raid.