Ex-GIHOC Boss Kofi Jumah granted GH¢55m bail

The Economic and Organised Crime Office (EOCO) has granted bail to Maxwell Kofi Jumah, the former Chief Executive of GIHOC Distilleries Company Limited, as investigations into alleged financial irregularities continue.

Mr. Jumah, who was taken into custody on Wednesday, April 29, 2026, has been granted bail in the amount of GH¢55 million, but remains in custody as his legal team struggles to meet the conditions.

Paul Yandoh of the New Patriotic Party (NPP) confirmed the development, stating that the bail terms are proving difficult to satisfy due to the substantial amount involved.

'As of last night, he was given a bail bond of 55 million Ghana cedis before he can be released from custody. I don’t have such an amount to come and bail him,' he said.

He indicated that efforts to secure bail have stalled, with lawyers unable to identify assets meeting the required threshold.

'The lawyers cannot find assets that can amount to that amount… so he is still in custody,' he added. Mr. Yandoh also questioned the basis for the bail sum, describing it as excessive in relation to the allegations under investigation.

'How can somebody go and sell scrap… and you are calling for over 550 million? Why?' he asked.

Mr. Jumah’s arrest followed a raid on his Kumasi residence as part of EOCO’s ongoing investigation into possible breaches of public financial management protocols during his tenure at GIHOC Distilleries.

The investigation is ongoing, and EOCO is working to determine the extent of any financial irregularities that may have occurred.