Cocoa Processing Company interdicts two senior managers over GH¢473 million alleged misappropriation

The Cocoa Processing Company Ltd. (CPC) has interdicted two of its senior managers, James Oduro and Abdul‑Samed Adams. The suspension follows an alleged misappropriation of GHC 473,384.04 meant for management of the Ghana Cocoa Service (GCS) under the company’s operations.   In a statement, CPC’s Managing Director, Paul William Coffie, announced that an internal investigation revealed the two managers submitted a fraudulent request for GHC 4 million to cover outstanding liabilities, of which GHC 473,384.04 was earmarked for product supply. Management deemed the action a serious breach warranting immediate disciplinary measures. The interdiction requires the Acting Chief Accountant to oversee the investigation into the financial irregularities. The managers are expressly forbidden from making any withdrawals from CPC’s bank accounts during the inquiry. They are instructed to appear for a comprehensive debrief with the Security Coordinator on Wednesday, May 15, 2026 at 11:00 a.m., where they must provide a full account of the transactions in question. After completing the stock‑take, the managers must submit a comprehensive hand‑over note to the Quality Assurance Manager and the Deputy Managing Director (Finance & Administration), detailing all activities and responsibilities related to the misallocated funds. CPC’s Management emphasized that all departments must act in accordance with their respective responsibilities and ensure full compliance with the directives, with the Security Coordinator specifically tasked with enforcing implementation of the measures.