Miracles Aboagye, an aide to the NPP flagbearer, Dr Mahamudu Bawumia, has alleged that the CEO of Ghana Cocoa Board (COCOBOD), Dr Randy Abbey, is living like an Arabian King.
The NPP man alleged that Randy Abbey, at the time he had been claiming the cocoa buying company was bankrupt, had renovated the COCOBOD CEO’s house like an Arabian King’s Palace.
He further claimed that Randy Abbey has purchased 110 pickups and 10 Land Cruisers.
Speaking on Asempa FM, Miracles Aboagye boldly alleged, “If you owe 32 billion cedis, but you are able to buy 110 pickups, you can also purchase Land Cruisers, about 10 of them, and the COCOBOD CEO’s house in Cantonment, December 2, 2024. I went to the house, OB. You are a senior journalist, I am sure you have been there for the event, it is one of the best houses you can find in Cantonment”.
“When you came, you took the claimed bankrupt COCOBOD money for renovation, and you have made the house like an Arabian King’s Palace, but you are saying there are debts and have now reduced the cocoa farmers’ money”, Miracles Aboagye claimed.
Also, Miracles Aboagye claimed that the former managers of COCOBOD under the NPP government left $500million in Ghana’s International Bank account in London.
According to Miracles Aboagye, the COCOBOD CEO, Dr Randy Abbey is trying to deflect the blame so they are left with no choice but to expose him.
The NPP man further detailed that in the first 4 months of 2025, COCOBOD ‘s revenue, according to the Budget, was $1.8billion, which he questioned was not the work of the NDC.
Miracles Aboagye added, “You didn’t sell the cocoa that you had to sell them; we all get that and could help, but if you try to turn it around and deflect the conversation by pinning it on the previous government, we will expose you”.
“I am saying, we left in the COCOBOD account, $500million cash sitting in the Ghana International Bank account in London for Randy; he should come and deny it”.
Miracles Aboagye added, “First two months in 2025, COCOBOD revenue, which was stated in the Budget reported by the NDC Finance Minister, $1.8 billion, is that money the work of the NDC?”
“So when you come, and you are telling the people that we owe 32 billion cedis and we will do this, we will do that, you are creating an expression that it is because of that you cannot pay workers”.
Meanwhile, Dr Randy Abbey, in a press statement, has announced that the Executive Management and Senior Staff will take a pay cut following the challenges within the cocoa sector.
According to the press release, the pay cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year.
The press release detailed that Executive Management will take a 20 per cent reduction in salaries, while Senior Staff will also be hit with a 10 per cent cut.
The pay cuts are seen as a broader cost-containment measure to align with revenue.
Also, the CEO statement indicated that additional steps, including procurement reforms and a staff rationalisation exercise, were to be taken to stabilise COCOBOD finances.
In a press release dated Monday, February 16, 2026, COCOBOD announced that the pay cuts, which read, “The Executive Management and the Senior Staff of COCOBOD have effective today. Monday, February 16, 2026, reduced their salaries for the remainder of the 2025/26 crop year in recognition of the current liquidity challenges in the cocoa industry.
The Executive Management has taken a twenty (20) per cent cut, while the Senior Staff have taken a ten (10) per cent reduction in their respective salaries.
This decision and other cost-cutting measures in procurement and a staff rationalisation exercise are aimed at reducing the overall expenditure of COCOBOD and aligning costs with revenue”.
The announcement comes on the heels of heightened strain in the cocoa industry, with some key persons questioning COCBOD’s commitments.
Watch the video below:
“NPP left $500million in Cocoabod’d account which is now in Randy Abbey’s care, accoeding to Ato Forson, Cocoabod made accrued revenue of $1.8billion in the first 4 months of 2025.
— Gen. Buhari (@Gen_Buhari_) February 16, 2026
So there is so much money for Randy Abbey and that’s why he lives like an Arabian King. pic.twitter.com/DtwFfKZOoZ