BNI arrests four suspects in PDS financial probe, granted bail

The Bureau of National Intelligence (BNI) has arrested four individuals linked to the collapsed Power Distribution Services (PDS) as part of an ongoing investigation into the alleged transfer of large sums of money believed to belong to the Electricity Company of Ghana (ECG).

The suspects — Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh — were picked up last week and have since been granted bail as the probe continues. The arrests are part of the Operation Recover All Loots (ORAL) initiative－ a government anti‑corruption campaign－and were confirmed on May 4, 2026, by Felix Kwakye Ofosu, the Minister of State in charge of Government Communications.

While specific details of the financial transactions remain under investigation, authorities are scrutinising the management of ECG revenues during the brief period PDS operated Ghana’s power distribution network.

The arrests have revived public interest in the failed PDS concession. Originally signed in March 2019, the 20‑year deal was backed by a $190 million grant from the U.S. Millennium Challenge Corporation (MCC). However, the agreement collapsed just months later when investigators discovered that key payment guarantees－reportedly issued by a Qatar‑based insurance firm－were fraudulent. President John Dramani Mahama, who was then a presidential candidate, had previously criticised the Akufo‑Addo government over the loss of the $190 million, describing it as “unacceptable” and pledging a thorough investigation to hold those responsible accountable.

Following the termination of the deal, PDS initiated arbitration proceedings in London. In a ruling issued in November 2025, the London Court of International Arbitration dismissed all of the company’s claims, concluding that the fraudulent guarantees justified the government’s decision to end the agreement.

The four arrested suspects are assisting the BNI with further investigations.