The Office of the Special Prosecutor (OSP) has announced a significant expansion of its anti-corruption efforts. It revealed that two of its most high-profile investigations—one concerning the state’s Minerals Income Investment Fund (MIIF) and the other targeting a large fuel diversion syndicate—are now in “advanced stages.”
In an update shared on its official Facebook page on Saturday, November 22, the OSP emphasized its core principle: its commitment to the aggressive pursuit of financial crimes is firmly rooted in due process, transparency, and the protection of the public interest.
The $94 Million MIIF Gold Trading Scandal
The highest-stakes investigation focuses on a gold-trading arrangement established to enhance Ghana’s gold-for-oil and reserves program. This scheme involves the state-backed Minerals Income Investment Fund (MIIF), which was created under the Minerals Income Investment Fund Act, Act 978 of 2018, and a private firm, Goldridge Company Limited.
The Office of the Special Prosecutor (OSP) is investigating claims that the government may have advanced approximately US$94 million for gold purchases that were not fully delivered. This potential financial loss to the Republic has prompted the OSP to take decisive action.
Actions Taken by the OSP So Far:
As part of the investigation, the OSP has employed its statutory powers to implement significant restrictive measures, including:
- Freezing of accounts
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Seizure of assets
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Movement restrictions on certain individuals
The most prominent figure in this case is Nana Yaw Duodu, also known as Dr. Sledge, the Chief Executive Officer of Goldridge Company Limited. Dr. Sledge was initially invited for questioning and later detained in September 2025 for failing to meet bail conditions. In October, the OSP conducted coordinated raids on Dr. Sledge’s residence in Trassaco and the East Legon offices of Goldridge Company Limited.
The 30-Company Fuel Diversion Scheme
The second investigation concerns an extensive multimillion cedi fuel diversion scheme affecting Ghana’s petroleum sector.
The OSP is targeting over 30 Oil Marketing Companies (OMCs) accused of diverting subsidized and taxed petroleum products. These companies are alleged to have diverted essential fuel types, including marine gas oil, premix fuel, and diesel. Such illegal diversions result in significant revenue loss for the state, as taxes and levies intended for national development are not collected.
The OSP reports that efforts are underway to recover millions of cedis that should have been accrued to the state from this illicit activity.
High-Profile Cases Currently Before the Courts
In addition to the ongoing investigations into the MIIF/Goldridge case and the OMC fuel diversion ring, the Office of the Special Prosecutions (OSP) has confirmed that several other significant cases are already in the prosecution phase.
The OSP stated, “In addition to these two ongoing cases, several others—such as the National Petroleum Authority (NPA) and Strategic Mobilisation Ghana Limited (SML) matters—are currently before the courts.”
The OSP emphasized that its responsibilities go beyond just investigation and prosecution; the agency is also dedicated to the recovery and effective management of state assets as these high-value cases move towards potential convictions.
