At least four persons linked to Power Distribution Services (PDS) have been arrested by the Bureau of National Intelligence (BNI) last week over the suspected transfer of funds believed to belong to the Electricity Company of Ghana (ECG), according to Minister of State in charge of Communications, Felix Kwakye Ofosu in a post
In a Facebook post titled “Oral Update”, the minister wrote, “The Bureau of National Intelligence arrested the following persons affiliated to PDS last week as part of investigations into the transfer of large sums of money believed to belong to ECG.”
Mr. Ofosu mentioned the names of the individuals as including Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh, adding that they have since been granted bail while investigations continue.
PDS took over the operations of ECG 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 deal collapsed within months after government investigations found that key payment guarantees—reportedly issued by Qatar-based Al Koot Insurance and Reinsurance Company—were fraudulent. Courts in Qatar, including the Court of Cassation, later upheld findings that the guarantees were forged.
The termination of the concession came at a steep cost, with Ghana losing about $190 million in compact funding from the Millennium Challenge Corporation.
PDS subsequently initiated arbitration proceedings in London, seeking damages and a declaration of wrongful termination.
But in November 2025, the London Court of International Arbitration dismissed all the company’s claims, ruling that the fraudulent guarantees justified the government’s decision.
Despite that ruling, concerns have lingered over how ECG revenues were handled during the concession period—issues that the latest investigation appears to be probing. Enditem
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