Bail conditions, transport enforcement and banking approvals lead

The Member of Parliament for Manhyia South, Nana Agyei Baffour Awuah has been granted a GH¢10 million bail with two sureties by the High Court in Accra.

His two sureties are the members of Parliament for Bosome Freho and Effia, who were all present in court.

The court directed Nana Agyei Baffour Awuah to deposit his passport with the Court Registry.

The Ghana News Agency (GNA) reports that Nana Agyei Baffour Awuah pleaded not guilty to charges of conspiracy to commit crime, causing financial loss of GH¢9.85 million to the state and money laundering, arising from alleged financial transactions involving SIC Life Savings and Loans when he was arraigned on Saturday.

The court, presided over by Justice Charity Akosua Asem, a Court of Appeal Judge sitting with additional responsibility as a High Court Judge, also ordered the MP to make himself available to the Economic and Organised Crime Office (EOCO) whenever required for investigations.

The prosecution, led by Dr Justice Srem-Sai, Deputy Attorney-General, did not oppose the grant of bail but urged the court to impose conditions that would ensure the accused remained available to the court and investigators.

Dr Srem-Sai told the court that EOCO had made several attempts to secure Nana Baffour Awuah’s attendance during investigations and urged the court to take those circumstances into consideration in determining the bail conditions.

“I do not oppose bail, but I wish to draw the attention of the court to some factors to assist the court on the conditions of bail,” he said.

Mr Samuel Atta Akyea, counsel for Nana Baffour Awuah, urged the court to grant his client bail, arguing that the accused was a sitting MP and was not a flight risk or likely to interfere with investigations.

“The accused person is not a flight risk and he went to EOCO on his own volition. We are ready to comply with reasonable terms that the court may impose on us,” he said.

Mr Atta Akyea also drew the court’s attention to previous cases in which former Ministers had been granted bail on their own recognisance.

“We have two MPs in court who have elected to stand as sureties for the accused, who is a colleague,” he added.

The court directed the prosecution to file its disclosures by October 22, 2026, to enable it to conduct a Case Management Conference on November 2, 2026.

The case follows an investigation by EOCO into alleged financial transactions involving SIC Life Savings and Loans.

EOCO had earlier sought to secure Nana Baffour Awuah’ sattendance for questioning and subsequently obtained a High Court warrant for his arrest and the search and seizure of documents relevant to the investigation.

Nana Baffour Awuah, subsequently, reported himself to EOCO on October 1, 2026, accompanied by his lawyers.

He was detained and questioned as part of the investigation.

His lawyers have maintained that the transactions under investigation arose from legal work undertaken by his former law firm.

Before the morning rush begins, the sound of praise and worship fills the Neoplan bus station in Ghana's capital, Accra, as a group of Christians gather to prepare to evangelise on buses that take travellers across the country.

Amid drumming and dancing, Boateng Bismark James leads 13 worshippers, nine men and four women, in prayer for drivers and passengers travelling to destinations across Ghana.

Ghana is a predominantly Christian country where preaching on public transport is widespread.

On long-distance buses, pastors can often be seen - and heard - preaching the gospel.

Sometimes they stand in the stairwell next to the driver; at other times they walk up and down the aisle reading from the Bible and calling on sinners to repent at the top of their voices. They do not stop even if the trip lasts for several hours.

The faithful sometimes offer money to the preachers to support their endeavours.

But a new law means this familiar practice could be coming to an end.

Anyone found preaching in public service vehicles faces up to eight months in prison, a fine of up to $52 (£39) or both.

The new regulation, passed by parliament in May, and which has started to be enforced in recent weeks, targets preaching and hawking on vehicles while they are in motion, classifying both as a nuisance and citing the safety and comfort of passengers.

Boateng, a 61-year-old pastor at Gospel Light church, has been preaching on commercial vehicles leaving Neoplan station since 2023.

"I preach on commercial vehicles because not everyone is able to go to church on Sunday. There are a lot of passengers who need our message of salvation to repent from their sins. We even heal the sick on some buses," he told the BBC in Twi, a local language.

Wearing a clerical collared shirt, Boateng moves through rows of buses loading passengers before boarding one bound for Kumasi, Ghana's second-largest city.

We speak to him before the bus departs to avoid breaking the law.

Some travellers listen closely as he delivers his message. Others try to ignore him, browsing their phones, making calls or chatting among themselves.

"Some passengers are very happy with my message. Some even say they have never heard the message in church, but through my preaching they now know it is in the Bible," he says.

Critics say preaching on moving vehicles is a nuisance and a safety risk, as it could distract the driver, while supporters argue that evangelism is a Christian duty and should be protected under the freedom of religious worship.

One woman in her early 30s, who wishes to be identified as Chery Lokko, says she prefers to travel in peace.

''I don't like it because they are a nuisance. Some of them spit on you unconsciously, especially if you are seated not far from them, and they are a nuisance because of the noise and saliva. I like my peace whenever I'm on public transport.''

In one video widely shared on social media recently, a passenger on a minibus is seen angrily confronting a pastor attempting to board.

But in this devout country, ranked among the most religious in the world , others say evangelism on public transport is an important way of reaching people who may not attend church.

Bernice Nartey, a passenger travelling to Kumasi, says pastors should be allowed to preach, but only with passengers' consent.

"The preaching sometimes helps people to repent. For instance, if someone is going through a stressful situation, the message of the pastor can give the person renewed hope," she says.

Boateng says he was shaken by the regulation and wants religious preachers to be given an exemption.

"We are very worried, because most pastors here depend on preaching to take care of their families through the monetary gifts offered by passengers," he says.

"The government should allow us to preach on the buses and alight when it is exiting Accra," he adds.

For Boateng, preaching is not only a religious calling but also an important source of income.

"I have been able to take care of my children's education. My last-born just completed university, and half of the financial support came from money I got from preaching."

Ghana's constitution guarantees freedom of religion, although those rights are subject to considerations including public safety.

Preaching on commercial buses was first prohibited in Ghana in 2012, with offenders facing up to 30 days in prison.

But enforcement was weak and so the practice remained common, particularly on buses. The new law beefs up the penalties for those that flout the ban.

Preachers using megaphones can also often be seen and heard at Ghana's lorry parks and markets but they are not affected by the ban.

The Christian Council of Ghana did not respond to the BBC's request for a comment but Rev Enoch Paul Hayes, a senior pastor at one of the biggest churches in Ghana, the International Central Gospel Church, tells the BBC he does not think the new rules infringe on religious freedom.

He urges his fellow pastors not to break the law, saying they should find other ways of spreading their message.

"There is social media as an alternative outlet, where the same message can reach thousands of people," he says.

For Boateng and other bus preachers, the new rules create a difficult choice between adapting their ministry, giving up an important source of income, or risking falling foul of the law.

The Bank of Ghana (BoG) has issued a “No Objection” to the proposed takeover of Société Générale Ghana by Morocco-based Attijariwafa Bank, Joy Business has learnt.

The regulatory approval represents a major step towards completing the transaction, which will see Attijariwafa Bank become the majority shareholder of Société Générale Ghana.

Sources with knowledge of the regulatory process say the Bank of Ghana’s decision was influenced by several factors, including Attijariwafa Bank's financial strength and the potential impact of its entry on Ghana’s banking sector.

Attijariwafa Bank’s financial strength was among the factors considered by the regulator.

The Moroccan banking group has significant financial capacity, which could strengthen its ability to participate in large-scale financing transactions in Ghana.

The Bank of Ghana is also understood to have considered what the entry of a major international banking group would mean for competition within Ghana’s commercial banking sector.

Joy Business understands that none of the shareholders, including Ghanaian shareholders, raised concerns about the proposed takeover.

These considerations were among the factors that influenced the Bank of Ghana’s decision to issue the “No Objection” to the transaction.

Société Générale Ghana is listed on the Ghana Stock Exchange, having been listed in 1995 under the name Social Security Bank.

As a result, the transaction also requires the necessary approvals from the Securities and Exchange Commission (SEC), particularly regarding the transfer of shares and other developments on the Ghana Stock Exchange.

Securing the relevant approvals will pave the way for the completion of the takeover.

Société Générale Group currently holds a 60.22% controlling stake in Société Générale Ghana.

Under the agreement announced on October 1, 2026, Attijariwafa Bank is expected to acquire a 55.22% stake, while the Social Security and National Insurance Trust (SSNIT) will acquire an additional 5%.

Once completed, Attijariwafa Bank will become the new majority shareholder and take over the activities, client portfolios and employees of Société Générale Ghana.

Joy Business understands that discussions around the transaction have included an aim to protect jobs at Société Générale Ghana.

There are also indications that assurances have been secured, allowing some top management positions to remain in the hands of Ghanaians.

The transaction will therefore introduce a new majority shareholder while maintaining the existing banking operations and workforce.

Société Générale Ghana currently operates a network of 40 branches and outlets across the country.

Société Générale Group announced on October 1, 2026, that it had signed an agreement with pan-African banking group Attijariwafa Bank to sell its majority stake in Société Générale Ghana.

Under the agreement, Société Générale Group will divest its entire 60.22% stake in the Ghanaian subsidiary.

Attijariwafa Bank will acquire 55.22%, while SSNIT will acquire the remaining 5% of the stake being divested.

SSNIT’s additional acquisition will increase its shareholding in Société Générale Ghana from 19.36% to 24.36%.

Société Générale Ghana traces its history to February 7, 1975, when it was incorporated as Security Guarantee Trust Limited and was wholly owned by SSNIT.

On February 24, 1976, SSNIT changed the bank’s name to Social Security Bank Limited.

The Bank of Ghana was granted a banking licence on September 17, 1976, and officially opened to the public on January 17, 1977.

In May 1994, Social Security Bank merged with the National Savings & Credit Bank and retained the name Social Security Bank Limited.

The bank subsequently made a public offer of 30% of its shares in July 1995, with SSNIT divesting 20% of its shareholding.

In 1997, a consortium comprising Blakeney Management Corporation UK, Morgan Stanley, Quantum (Soros) Emerging Market Investment Corporation and others acquired 52% of the bank’s issued shares, with Allied Irish Banks appointed as technical partner.

The bank changed its name from Social Security Bank Limited to SSB Bank Limited in March 1998.

In December 1999, Commonwealth Development Corporation acquired a 20% stake in the bank.

In March 2003, Société Générale acquired a controlling 46.7% stake in SSB Bank, making it a subsidiary of the French banking group.

Société Générale subsequently increased its shareholding to 51% through a tender offer in July 2003.

Following a rights issue in November 2009, Société Générale’s shareholding increased to 52.24%.

The bank changed its name from SG-SSB to Société Générale Ghana in March 2013.

Another rights issue in September 2016 increased Société Générale’s shareholding to 56.67%.

The French banking group later increased its controlling interest to 60.22%, which is now being divested in the proposed transaction with Attijariwafa Bank and SSNIT.

The International Monetary Fund has urged the Bank of Ghana and the securities and Exchange Commission to collaborate closely and align their risk assessment frameworks and supervisory action plans for crypto markets and activities.

According to the Fund, this collaboration should not be limited to the risk-based supervision of dual-regulated entities but should cover all current and potential cross-sector risks, including the monitoring of financial stability risks.

In a report titled “Regulation and Supervision of Crypto Markets and Activities”, the Fund said the crypto asset market is highly dynamic and innovative, requiring constant collaboration and exchange of information between the BoG and the SEC to prevent the emergence of blind spots or the exploitation by market participants of supervisory gaps for the purpose of regulatory arbitrage.

It added that the coordination committee should propose a formal collaboration structure that minimises the risk of regulatory arbitrage and the emergence of supervisory blind spots. “The structure should encompass all stages of the supervisory process, ranging from the alignment of reporting procedures to the alignment of sanctions”.

With respect to dual supervised entities, the Fund said coordination committee should develop effective guidance including a clear delineation of responsibilities between the relevant regulatory authorities.

To ensure the consistency and quality of the reporting data, the Fund also called on the BoG and SEC to consider the use of a single reporting framework for all supervised entities.

“The use of separate reporting frameworks may lead to undue operational complexities and costs, may undermine the exchangeability of data between the relevant authorities, and may lead to data gaps or double reporting”, it warned.

“The BoG and SEC should therefore consider how best to leverage existing frameworks and data reporting solutions, such as eM-Tech which is currently used by the BoG for real-time reporting by sandbox entities”, it added.

It continued that if a unified reporting framework should not be appropriate, the authorities should align their reporting templates for crypto markets closely to allow for a seamless exchange of supervisory data and information subject to legal permissibility.

Ghana is the fifth largest crypto market in sub-Saharan Africa with adoption increasing.

Data suggests that between 8% and 17% of the population have bought or sold crypto, with estimated annual crypto transactions around $21 billion.

Menu Search for Switch skin Home News Politics Business Sports Crime Africa More World Education Editorial Features Lifestyle Technology Gallery Contact Us Facebook X TikTok RSS Switch skin Search for Hot! News La Pleasure Beach demolition; MP says govt unaware October 2, 2026 1 minute read Structures at La Pleasure Beach in Accra have been demolished in an exercise carried out under the supervision of National Security.

Popular entertainment spots including Pera Beach and Polo Beach Club, located near the Labadi Beach Hotel, were among the hardest hit.

A joint security force on Friday undertook the demolition as part of an ongoing exercise to clear structures in the La beach area. This follows weeks of warnings to occupants to vacate the area.

Some occupants, however, said the notice period was inadequate, leading to the destruction of properties worth thousands of Ghana cedis.

One worker, who said she is a single mother, lamented: "We were given two weeks’ notice to start packing, but we thought it was a joke."

Member of Parliament for La Dade-Kotopon, Rita Naa Odoley Sowah, who confronted the security personnel at the scene, said government was not aware of the exercise.

She expressed disaffection for the action, saying it has rendered many people jobless.

The aftermath of the exercise left the area littered with debris and damaged structures.

--> Make your preference count — choose Punch. Add Punch on Google Osun disputes accounts restriction over $13.9m award News October 5, 2026 6:04 am Governor Ademola Adeleke of Osun State.

The Osun State Government on Sunday said it has filed an application to the Federal High Court, Lagos, asking the court to set aside the ex parte order that placed restrictions on bank accounts operated by the government over a $13.9m arbitration award in favour of Gamji Nigeria Company Limited. The government also reassured the public that necessary legal action had commenced to vacate the order and ensure the due rights of the state were observed by judicial review of the arbitration award. The PUNCH reports that Justice D.E. Osiagor issued the interim order following an application filed by Gamji through its counsel, Yunus AbdulSalam (SAN), in a suit marked FHC/L/CS/1233/2026. But the state government, in a statement signed by the Commissioner for Information and Public Enlightenment, Kolapo Alimi, in reaction to the development, declared that the order “was a product of deceit and substantial non-disclosure of material facts to the court,” adding that the arbitration award it sought to enforce was also fraught with several irregularities. It said the development prompted the government’s legal team to approach the High Court of Lagos State to set aside the award. See more Punch stories on Google. Add Punch on Google The statement read, “In fact, it was reported that the purported award which the ex parte order of 9th September, 2026, referenced does not exist as there was no arbitral award made against the state government in July 2024. “The only arbitral award against the state government was in July 2026, and the said award is presently being challenged before the Lagos State High Court by the state government’s legal team.” Going through the history of the case, the government noted that the 2017 contract dispute started under the administration of ex-Governor Adegboyega Oyetola, It further said the then administration denied a variation request by Gamji, particularly as it relates to whether the Osun State Government was indebted to Gamji Nigeria Company to the tune of $15,982,638.22 or not. Related News LAWMA clears traders from unauthorised trading spots Greenwich Bank expands, opens three Lagos branches Group distributes Lagos history book to schools “The matter proceeded for arbitration, which was deliberately mismanaged and handled to favour Gamji Nig. Co. Ltd., while denying the state government a fair hearing and full participation in the arbitration process as mandated by best practice in the arbitration process. “The irregularities that characterised the arbitration proceedings and the final arbitral award are matters which have been submitted by the state government to the High Court sitting in Lagos State. “The counsel for the state government had filed the suit to set aside the arbitral award at the Lagos State High Court since the 1st day of September, 2026 – prior to the time when Gamji Nig. Co. Ltd. surreptitiously approached the Federal High Court to deceitfully procure an ex parte order. “Alongside the originating motion used to commence the suit in Lagos State, a motion on notice was equally filed to suspend the execution of the award until the suit is heard and determined. “Both the originating motion and the motion on notice were duly served on Gamji and its counsel; as such, they were fully aware that the award was being challenged by the state government. “To the greatest chagrin of the Osun State Government and its legal team, Gamji Nig. Co. Ltd., despite being in receipt of the originating motion and motion on notice filed before the Lagos State High Court to suspend execution of the award, furtively approached the Federal High Court sitting in Lagos State to enforce the award – the same award that was being challenged by the state government’s legal team before a court of competent jurisdiction,” the statement read. The government further disclosed that when the company approached the Federal High Court, it failed to disclose that the validity of the award was being challenged at the Lagos State High Court or that it was served with an application to suspend any action aimed at executing the said award until the suit challenging the award was heard and determined. It added that “Motion on notice to set aside the order of September 9 has been duly presented before the court, and the deceptive ploy of Gamji Nig. Co. Ltd. has been relayed to the Federal High Court. “Since the matter is still sub judice, the state government refrains from making any prejudicial comments on the merits of the case.” Bola Bamigbola

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