The Economic and Organised Crime Office (EOCO) has reportedly granted the Member of Parliament for Manhyia South, Nana Agyei Baffour Awuah, bail in the sum of GH¢50 million following his arrest over an ongoing investigation into alleged financial irregularities, money laundering and tax-related offences involving SIC Life Savings and Loans Company Limited.
The MP is also reportedly required to provide three sureties as part of the bail conditions communicated to him by the Office.
His arrest on Thursday, October 1, 2026, followed months of efforts by EOCO to secure his attendance for questioning, culminating in the Office obtaining a court warrant after its earlier attempts proved unsuccessful.
The development marks a significant turn in the investigation into alleged financial misconduct at SIC Life, involving transactions that reportedly took place during the administration of former President Nana Akufo-Addo.
EOCO confirmed the MP’s arrest in a statement, identifying him as a suspect in investigations involving alleged criminal conspiracy, financial loss to SIC Savings and Loans, money laundering, tax-related offences and other suspected criminal activities.
“His appearance follows several months of efforts by the Office to secure his attendance before investigators in connection with ongoing investigations into allegations relating to criminal conspiracy, financial loss to SIC Savings and Loans, money laundering, tax-related offences and other matters under investigations,” the statement said.
According to EOCO, Mr Baffour Awuah voluntarily reported to its offices at about 10:00 a.m. on October 1, following which he was placed under arrest after undergoing the applicable investigative and operational procedures.
“In accordance with those procedures, Mr Baffour Awuah was subsequently placed under arrest and is currently cooperating with investigators as the investigative process proceeds,” the Office stated.
The arrest followed an unsuccessful attempt by EOCO officials to take the MP into custody at the Accra High Court on September 23, 2026. Mr Baffour Awuah resisted the attempt, describing it as an “unlawful arrest” and an “attempted kidnap”, before seeking refuge at Parliament.
EOCO had earlier disclosed that it invited the legislator twice in February 2026 to assist with its investigations, but that he failed to honour the invitations.
The MP, however, disputed the Office’s account, maintaining that the February correspondence was addressed to him in his former capacity as Senior Partner of Sarkodie, Baffour Awuah and Partners, the law firm engaged by SIC Life Savings and Loans Company Limited.
Mr Baffour Awuah, who remains a senior partner of the firm, has insisted that the correspondence related to the firm’s professional engagement with the financial institution and that he subsequently referred the matter to the Clerk to Parliament after becoming an MP.
His arrest and the reported GH¢50 million bail conditions come amid heightened scrutiny of the alleged financial transactions under investigation, with EOCO pursuing further inquiries into the circumstances surrounding the suspected financial losses and other alleged offences.
The Office has pledged to conduct its investigations professionally, independently and in accordance with due process.
“The Office will continue to pursue all relevant lines of inquiry, examine the available evidence and afford all persons involved their rights under the Constitution and applicable laws,” EOCO said.
It has also urged the public to refrain from speculation and premature conclusions regarding the culpability of any individual while the investigative and judicial processes remain ongoing.
“EOCO will provide further information when it is appropriate and legally permissible to do so,” the statement added.
The reported bail arrangement does not constitute a determination of guilt, and the allegations against Mr Baffour Awuah remain under investigation pending any judicial determination.