Four linked to PDS arrested over alleged ECG funds transfer – Kwakye Ofosu

The Minister of State in charge of Communications, Felix Kwakye Ofosu, has revealed that four individuals connected to Power Distribution Services have been arrested by the Bureau of National Intelligence over the suspected transfer of funds believed to belong to the Electricity Company of Ghana.

In a Facebook post titled “Oral Update,” he stated that the arrests form part of ongoing investigations into the movement of large sums of money linked to ECG operations.

He named the individuals as Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh, adding that they have been granted bail while investigations continue.

PDS took over ECG’s operations on March 1, 2019, under a 20-year concession agreement backed by the Millennium Challenge Compact between the Government of Ghana and the United States’ Millennium Challenge Corporation.

However, the agreement collapsed within months after investigations revealed that payment guarantees linked to the deal were fraudulent. Court rulings in Qatar later upheld findings that the guarantees were forged.

The termination of the contract resulted in Ghana losing about $190 million in Millennium Challenge funding.

PDS later pursued arbitration in London, but in November 2025, the London Court of International Arbitration dismissed its claims, ruling that the fraudulent guarantees justified the termination of the agreement.

Despite the ruling, questions have persisted regarding the management of ECG revenues during the concession period, which authorities are now investigating further.