Vincent Ekow Assafuah, the Member of Parliament for Old Tafo, has blown an alarm on an alleged scandal looming at the Ghana Cocoa Board (COCOBOD).
According to Ekow Assafuah, Mr Ato Boateng, the acting Deputy Chief Executive in charge of Finance and Administration at COCOBOD, a regulator of the sector, is also the CEO of a private company regulated by COCOBOD.
He alleged that the Deputy CEO is using the warehouses of the PBCs to hoard cocoa purchased by his private company against the rules of the COCOBOD.
Ekow Assafuah alleged a conflict of interest for the Deputy CEO to use the PBC warehouses, which are not meant to be used by private companies.
In a Facebook post shared by Vincent Ekow Assafuah, he wrote, “BIG SCANDAL LOOMING AT COCOBOD.
One of the reasons cocoa farmers continue to endure hardship under the current COCOBOD administration is what appears to be blatant insensitivity and possible abuse of office.
Serious concerns have emerged regarding the leadership of COCOBOD under Randy Abbey and his deputy, Mr. Ato Boateng, Acting Deputy Chief Executive (Finance & Administration), whose established professional association with Atlas Commodities Limited is confirmed by records at the Registrar-General’s Department and further corroborated by publicly available information, including a simple Google or AI search, which shows that he is the company’s Chief Executive Officer since 2018.
Attached is a waybill issued in the name of Atlas Commodities Limited indicating the movement of cocoa from Kedjebi within the 2025/2026 crop season. The document references 800 bags of Grade One Cocoa, raising legitimate questions about the operational role of this private company within the cocoa purchasing chain.
It is alleged that funds meant for Licensed Buying Companies, including PBCs, to purchase cocoa were instead redirected to this private entity, with cocoa allegedly hoarded in anticipation of future price increases.
These alleged activities are said to be taking place in parts of the Central and Eastern Regions, raising concerns about the scale of the operation.
COCOBOD is the regulator of all Licensed Buying Companies. Therefore, how can the regulator of the industry be seen to also operate, directly or indirectly, as a buying company within the same system it supervises? If true, this would represent a serious conflict of interest and a breach of regulatory integrity.
Further claims suggest that Atlas Commodities Limited does not operate its own warehouses but may be relying on existing PBC warehouse facilities.
Most concerning is the allegation that Atlas Commodities may be operating within warehouses registered under PBC. COCOBOD regulations require that every warehouse be registered under a specific Licensed Buying Company. If a warehouse is registered under PBC, it should not be used for the storage, grading, sealing, or processing of cocoa belonging to another company.
If proven, such an arrangement would constitute a serious regulatory breach and raise critical questions for the district Quality Control officers responsible for oversight.
Additionally, it is being alleged that the Chief Executive has sat on a task force report related to these matters, preventing the public from knowing the full extent of its findings.
These are grave concerns that demand urgent and independent investigation. The matter has reportedly been brought to the attention of the Jasikan and Hohoe Police Stations.
Cocoa farmers deserve transparency, accountability, and protection from any actions that undermine their livelihoods”, his post concluded.
Meanwhile, the Old Tafo MP has petitioned the Office of the Special Prosecutor (OSP) to probe the alleged conflict of interest at the Ghana Cocoa Board (COCOBOD).
See the post below: