Seidu Agongo shares struggles under Akufo-Addo’s 8-year administration

Businessman Alhaji Seidu Agongo has opened up about the hardships he faced during President Akufo-Addo’s eight-year administration, particularly the financial difficulties that arose after the government froze his bank accounts.

In an interview on Channel One TV’s Face to Face with Umaru Sanda Amadu, Agongo recounted how, despite the setbacks, he remained resilient and continued selling fertilizers—the very product that had come under scrutiny.

He revealed that many of his witnesses during the trial were farmers who were willing to testify in his defense. Despite the legal battle, he managed to sustain some of his other businesses, navigating the turbulent period with determination.

“You wake up one day and they write to all the banks to close your accounts. The letter is there. Because I was being investigated. They had to put a lien on my account. The last time I even called them, Ecobank was last week to find out what happened to [my money]. I tried to find ways and means out.

“I had to find a way of getting similar accounts to the bankers so that money could be dropping. And I was still selling these very little things [fertilizers] they said it’s not good. The same farmers buy it a lot. It’s still in the market.

“Majority of my witnesses were farmers. They were even ready, willing to come and testify. I was still running my other businesses.”

Agongo recalled how the investigation led to a significant loss of business partnerships.

“I had other partners in China and other things, but they all stopped doing business with me. Everybody almost thought I had become a political risk business person. Politically exposed in the country. Because they were scared.”

He lamented the role of former Bank of Ghana Governor Dr. Ernest Addison in the collapse of his business.

“Especially when this Dr Ernest Addison man [former Bank of Ghana Governor] came and said it was not fit and proper, it worsened my situation and collapsed my business.”

On January 28, the Attorney-General and Minister of Justice, Dr. Dominic Akuritinga Ayine, formally withdrew all charges against Dr. Stephen Opuni, former CEO of COCOBOD, and Seidu Agongo.

State Attorney Enam Loh Mensah informed the court that the Attorney-General had instructed the withdrawal of all charges, leading to the filing of a formal notice.

Dr. Opuni and Seidu Agongo had faced 27 charges, including defrauding by false pretenses, willfully causing financial loss to the state, money laundering, and corruption by a public officer.

The trial, which began in 2018, focused on allegations of procuring substandard fertilizers for COCOBOD, purportedly causing financial losses to the state.

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