Former Managing Director of GIHOC Distilleries Company Limited, Maxwell Kofi Jumah, has been granted bail to the tune of GH¢55 million by the Economic and Organised Crime Office (EOCO) as investigations into alleged financial irregularities continue.
Mr. Jumah was arrested on Wednesday, April 29, 2026, following a raid on his residence in Kumasi. The arrest forms part of an ongoing probe into suspected breaches of public financial management regulations during his tenure at the state-owned distillery.
Despite the grant of bail, Mr. Jumah remains in custody as his legal team has been unable to meet the stringent conditions attached to the bail bond. Sources close to the process indicate that efforts to secure assets sufficient to cover the amount have so far been unsuccessful.
Paul Yandoh, a member of the New Patriotic Party (NPP), confirmed the development and described the bail terms as prohibitive. He noted that the scale of the amount has made it difficult for the defence team to satisfy the requirements needed for Mr. Jumah’s release.
Mr. Yandoh also questioned the basis for the bail figure, arguing that it appears disproportionate to the allegations under investigation.
EOCO has yet to provide further details on the specific charges, but officials say inquiries remain ongoing as part of broader efforts to ensure accountability in the management of public resources.
Ex-GIHOC CEO Kofi Jumah Granted GH¢55m Bail but Remains in Custody
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The New Crusading Guide is a privately own newspaper in Ghana with Mr ABdul Malik Kweku Baako as its Editor in Chief. We give you the latest news