Omanghana
Former Managing Director of SIC Life Savings and Loans, Amma Frimpomaa Dwumah, has reportedly appeared before the Economic and Organized Crime Office to assist investigations into an alleged GH¢1 million payment linked to a debt-recovery transaction.
According to The Herald, citing sources familiar with the investigation, Dwumah honored an invitation on Monday, October 5, 2026. Investigators are examining a payment allegedly made to her by the law firm of Manhyia South MP Nana Agyei Baffour Awuah.
The transaction concerns efforts to recover money owed to SIC Life Savings and Loans by the defunct Equity Savings and Loans. The newspaper reported that a debt of approximately GH¢14 million was eventually settled for GH¢5 million.
Investigators are reportedly reviewing the settlement’s authorization and related payments. The alleged GH¢1 million transfer has not been established in court as a kickback.
The Herald has separately linked the case to a broader investigation into alleged financial irregularities involving approximately GH¢300 million at SIC Life Savings and Loans. Baffour Awuah reported to EOCO on October 1 after a court issued an arrest warrant.
The MP subsequently pleaded not guilty to charges including causing a GH¢9.85 million financial loss to the state and money laundering. He was granted GH¢10 million bail on October 3.
The allegations against both individuals remain subject to investigation and court proceedings.
Source: Omanghana
