The case of Maxwell Kofi Jumah, the former Chief Executive Officer of GIHOC Distilleries Company Limited, has taken a dramatic turn. After being granted a GH¢55 million bail by the Economic and Organised Crime Office (EOCO), the beleaguered former CEO is yet to be released and has been rushed to the Intensive Care Unit (ICU) of the Korle Bu Teaching Hospital following what sources describe as a sudden deterioration in his health.
According to information gathered by Citi News, Jumah was still in EOCO custody when his health condition worsened, necessitating his urgent transfer to the country’s premier medical facility. The incident comes nearly a week after his arrest on April 29, 2026, which was carried out at his residence in Kumasi following a raid by EOCO officials in connection with an ongoing investigation into alleged breaches of public financial management regulations during his tenure at the state-owned enterprise.
New Patriotic Party (NPP) Ashanti Regional Communications Director, Paul Yandoh, confirmed the development to the media on Monday, stating that the former CEO’s legal team is now challenged on two fronts. Not only has the stringent GH¢55 million bail bond remained unmet, but the process has also been significantly slowed down by Jumah’s current medical emergency.
“Efforts are ongoing to secure his release, but the process has been delayed due to his medical condition,” Yandoh explained, adding that Jumah is currently receiving treatment in the ICU.
The GH¢55 Million Hurdle
Jumah was granted police enquiry bail on April 29, setting his release condition at a staggering GH¢55 million. However, his legal team has reportedly struggled to satisfy the requirements. Yandoh lamented the difficulty, noting that the legal team has been unable to identify assets that meet the required threshold. “As of last night, he was given a bail bond of 55 million Ghana cedis before he can be released from custody. I don’t have such an amount to come and bail him. The lawyers cannot find assets that can amount to that figure, so he is still in custody,” Yandoh stated.
Questioning the basis for the bail sum, Yandoh described it as excessive in relation to the allegations being investigated.
Allegations and Investigation
Jumah’s arrest follows a broader probe by EOCO into suspected financial irregularities at GIHOC Distilleries. Sources familiar with the investigation indicate that officials are scrutinising several specific allegations against the former Managing Director, who served in the role under the previous administration.
Key issues include the alleged unauthorised acquisition and retention of company vehicles, including a Genesis G90 sedan and an Audi vehicle, as well as claims of inflated staff numbers and questionable asset sales. Investigators are also looking into the alleged unauthorised sale of GIHOC-owned properties in Tema, reportedly valued at over $700,000.
The current administration, led by President John Dramani Mahama, has intensified efforts by state agencies to scrutinise the handling of public funds and enforce accountability across state-owned enterprises. As part of this broader anti-corruption drive, several former officials of the previous government are currently under investigation. The Minority Caucus in Parliament has condemned the arrest of Jumah, whom they view as a targeted political opponent, describing it as “an act of political persecution”.
As of the time of this publication, authorities have yet to release an official statement on the specifics of Jumah’s current medical condition or provide further updates on the ongoing legal and investigative processes.
