A former Chief Executive Officer of the GIHOC Distilleries Company Limited, Maxwell Kofi Jumah, has been granted a GH¢65m bail.

Reports, however, indicate that he remains in custody despite being granted bail by the Economic and Organised Crime Office (EOCO).

According to citinewsroom.com, Jumah, who was arrested on Wednesday, April 29, 2026, is at the centre of an ongoing investigation into alleged financial irregularities during his time as Chief Executive of GIHOC Distilleries Company Limited.

EOCO Arrests Ex-GIHOC MD Maxwell Kofi Jumah Over Financial Misconduct Probe

Although EOCO has set bail at GH¢65 million, meeting the conditions has proven to be a major hurdle for his legal team.

According to Paul Yandoh of the New Patriotic Party (NPP), the size of the bail bond has made it extremely difficult to secure Jumah’s release.

“As of last night, he was given a bail bond of 65 million Ghana cedis before he can be released from custody. I don’t have such an amount to come and bail him,” he said.

He explained that efforts to satisfy the bail conditions have so far stalled, as the lawyers are unable to identify assets that meet the required value.

“The lawyers cannot find assets that can add up to that amount… so he is still in custody,” he added.

Yandoh also raised concerns about the basis for the figure involved for his bail, questioning whether it reflects the nature of the allegations being investigated.

“How can somebody go and sell scrap… and you are calling for over 65 million? Why?” he asked.

NA/VPO

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