Buffer Stock Scandal: Full list of jaw-dropping properties owned by Ex-CEO and wife

The Attorney-General’s Department is set to charge the former Chief Executive Officer of the National Food and Buffer Stock Company Limited (NAFCO), Hanan Abdul-Wahab, and his wife, Faiza Seidu Wuni, with stealing, conspiracy to steal, wilfully causing financial loss to the state, using public office for profit, obtaining public property by false statements, and money laundering. The charges are expected to be filed on Friday, October 24, 2025.

The move follows months of detailed investigations by the Economic and Organised Crime Office (EOCO), which uncovered a large-scale financial fraud operation allegedly orchestrated by Mr Abdul-Wahab and his associates during his tenure between 2017 and 2024.

Codenamed “The Rumble in the Jungle,” the Attorney General, Dr Dominic Ayine during the Government Accountability Series on Wednesday, October 22 stated, that the EOCO investigation revealed that more than GH¢78 million was unlawfully transferred from Buffer Stock’s accounts, into private and company accounts linked to Mr Abdul-Wahab, his wife, and senior staff of the company.

ALSO READ: We rejected offers for plea deal in Chairman Wontumi case – Dr Ayine

According to EOCO, while only GH¢27 million out of the total payments made to Sawtina Enterprise were supported by records of genuine food supplies, over GH¢50 million had no evidence of goods or services delivered. The funds, which were meant to pay suppliers under the government’s School Feeding Programme, were instead diverted through seven companies believed to have been used as vehicles for money laundering.

These entities include Alqarni Enterprise, Aludiba Enterprise, Energy Partners Ltd, Fa-Hausa Ventures, Fa-Hausa Company Ltd, Aludiba Foundation, and Sawtina Enterprise. EOCO stated that the couple used the proceeds of these illicit transactions to acquire an extensive portfolio of high-value real estate and luxury assets across the country.

ALSO READ: Auditor General’s forensic audit reveals Gh¢2.2B, not Gh¢548M, stolen in NSA scandal – AG

Investigators also found that Mr Abdul-Wahab and his wife became some of the largest private depositors at Republic Bank during the period of the alleged offences. Several accomplices, including senior company officials, have been implicated in the ongoing investigation.

Properties Acquired with the Proceeds of Crime

Real Estate Properties

1. Five-bedroom house

   • Purchased from Chain Homes Limited between February 2019 and December 2020.

   • Cost: $1,625,000.

   • GHS 5,758,165 (equivalent to $230,841) paid directly from company accounts; the remainder paid in cash.

2. Three-bedroom house at Cantonments, Accra

   • Bought in July 2020 from Golden Coast Developer Ltd for $600,000.

   • Acquired through Fa-Hausa Ventures and Fa-Hausa Company Limited.

   • Registered in the name of the wife, Faiza Seidu Wuni.

3. Plots at Finali’s Airport Development Site

   • Acquired between October 2019 and February 2021 for $750,000 (cash payments).

   • Registered in the name of Faiza Seidu Wuni.

   • Construction contract signed in July 2021 with Mendanha and Sousa Construction Ltd for $691,650.

   • Architectural designs prepared by Ansara Architecture Pty Ltd (South Africa).

   • Current estimated value: $2.5 million.

4. 0.32-acre government land

   • Purchased through Anthony Duke Essien, a known government land sales agent.

   • Initially acquired from the Ministry of Lands and the Lands Commission for GHS 307,200, then sold to Hanan Abdul-Wahab for GHS 2,567,000.

   • Proceeds traced to criminal funds from Buffer Stock through Sawtina Enterprise and Alqarni Enterprise.

   • Lease later changed to the wife, Faiza Seidu Wuni.

   • Four units of four-bedroom apartments developed on the land (property yet to be valued).

ALSO READ: Top 10 Countries in Africa That Consume the Most Rice: 2025 Rankings

Other Properties

5. Seventeen-bedroom boutique hotel at Gumani, Tamale

   • Operated through Fa-Hausa Company Limited.

   • Franchise signed with Villa Monticello for $250,000 to conceal ownership.

6. Four-bedroom bungalow at Dzorwulu, Accra

   • Valued at GHS 4,142,451.

7. Three-storey commercial building (Chicken Republic)

   • Located at Estate Junction, Tamale.

8. Five-bedroom mansion

   • Located at Kanvili, Dorado Street, Tamale.

9. Three-bedroom house

   • Situated at Kpalsi, Tamale.

10. One-storey building

    • Located at No. 10 Selby Gardens, Achimota, Accra.

11. 0.27-acre plot of land

    • Located at Estate Junction, Tamale.

12. 0.29-acre plot of land

    • Located close to Workers College, Tamale.

ALSO READ: Top 10 Best Banks in Africa: 2025 Latest Rankings

Frozen Assets

• Fixed Deposit Account:
  Belonging to Hanan Abdul-Wahab, containing GHS 10,000,000 with Republic Bank, Labone Branch, Accra.

• Vehicles:
  Several seized.

• Luxury Handbags:
  Over 61 confiscated.