On April 16, 2024, the High Court in Accra delivered a significant verdict in a high-profile corruption case, sentencing Sedina Tamakloe Attionu, the former head of the Microfinance and Small Loans Centre (MASLOC), to a decade in prison for causing a financial loss of GH¢90 million to the Ghanaian state. Daniel Axim, the former Operations Manager at MASLOC, also received a five-year sentence for his role in mismanaging state funds under Attionu’s direction.
Background of the Case
The charges stemmed from a series of misappropriations linked directly to Attionu and Axim, who were found guilty of 78 counts including causing financial loss to the state, stealing, conspiracy to steal, money laundering, and violating public procurement laws. The investigation, spearheaded by the Economic and Organised Crime Office (EOCO) in 2017, scrutinized numerous dubious transactions and mismanagement of funds allocated for public welfare and disaster relief.
One of the more egregious misallocations involved funds designated for a sensitisation and monitoring program intended to support 85,300 beneficiaries of MASLOC loans, from which GH¢1,706,000 could not be accounted for. Additionally, GH¢1,465,035 meant to aid victims of the Kantamanto Market disaster was also mismanaged. These instances highlighted a pattern of financial irresponsibility and illicit control over substantial public funds.
The trial took a notable turn when it proceeded in absentia for Attionu, who had been permitted to travel to the United States in 2021 for medical treatment and failed to return. The court’s decision to move forward without her presence was preceded by an order in January 2023 demanding that the sureties, including the former CEO of the Ghana National Petroleum Corporation (GNPC), Alex Mould, and actor Gavivina Tamakloe, pay a GH¢5 million bail bond due to their failure to ensure Attionu’s return.
Investigative Findings and Public Outcry
The public’s attention was particularly captured by transactions involving the Obaatanpa Micro-Finance Company Limited, a licensed Tier II microfinance company. In June 2014, Attionu facilitated an investment of GH¢150,000 in Obaatanpa, followed by an additional GH¢500,000. However, due to the high interest rates demanded by Attionu (24%), Obaatanpa opted to refund the investment. Despite their attempt to settle the amount via cheque, Attionu insisted on a cash refund, which was delivered under suspicious circumstances at a filling station during the night.
Further controversies arose when MASLOC, under Attionu’s instruction, later demanded interest payments on the returned funds. Obaatanpa’s reminder about the already settled loan eventually led to the cessation of these demands, but by then, it was evident that MASLOC’s records did not reflect the actual transactions, suggesting embezzlement by Attionu.
Implications and Reactions
The sentencing of Attionu and Axim has been perceived as a crucial victory in the fight against corruption within public institutions in Ghana. It underscores the judiciary’s commitment to uphold integrity and accountability, particularly in the management of public resources. The verdict also sends a strong message to other public officials about the severe consequences of financial mismanagement and corruption.
As the news of the sentencing spreads, there is a renewed call for stricter oversight and transparency in government agencies tasked with handling public funds. The MASLOC case has not only exposed significant loopholes in the financial management systems of public institutions but also highlighted the need for robust mechanisms to prevent such breaches in the future.
This landmark case is a step toward restoring public confidence in Ghana’s legal and financial systems, ensuring that those entrusted with public funds are held to the highest standards of accountability. As Ghana continues to develop economically, the assurance that public officials can and will be held accountable is essential for fostering an environment of integrity and trust.
Source: Graphic Online
