Cabinet Orders Forensic Audit, Criminal Probe into COCOBOD Operations Over Past Eight Years
The Government of Ghana has ordered a full forensic audit and criminal investigation into the activities of the Ghana Cocoa Board (COCOBOD) covering the last eight years, Finance Minister Dr. Cassiel Ato Forson has announced.
Speaking during the press briefing of major reforms in the cocoa sector on Thursday, Dr. Forson said the decision forms part of broader measures aimed at restoring accountability, financial stability, and transparency within the cocoa industry.
“Cabinet has also directed the Office of the Attorney General to commission concurrent forensic audit and criminal investigation into the activities of COCOBOD over the last eight years,” Dr. Forson stated.
According to the Finance Minister, the investigations are necessary following the government’s review of the cocoa sector, which uncovered what he described as significant financial and operational challenges that have affected the sustainability of COCOBOD.
He emphasized that the move is intended to ensure that any financial irregularities, mismanagement, or breaches of procurement and governance regulations are properly investigated and addressed.
Dr. Forson reiterated government’s commitment to strengthening oversight in the cocoa sector, noting that accountability is crucial to restoring investor confidence and improving the welfare of cocoa farmers.
The Finance Minister added that the probe forms part of a wider reform agenda designed to streamline COCOBOD’s operations and eliminate wasteful spending.
“Wasteful and uncontrolled expenditure practices are to be curtailed immediately,” he stressed, adding that new legislative reforms will also prevent the cocoa regulator from engaging in non-core fiscal expenditures.
The announcement comes alongside several major policy changes, including debt restructuring, reforms to cocoa financing, and measures to increase local cocoa processing.
Dr. Forson assured stakeholders that the government remains committed to protecting the interests of cocoa farmers while transforming the cocoa sector into a more sustainable and profitable industry.
The Attorney General’s office is expected to commence the forensic audit and criminal investigations as part of efforts to determine possible wrongdoing and recommend appropriate legal actions where necessary.
