National security operatives in the early hours of Thursday, May 15, 2025, conducted a raid at the private residence of Maxwell Kofi Jumah, the former Managing Director of GIHOC Distilleries, as part of an ongoing investigation into alleged misuse of state assets.

The operation, which began around 5:00 am, was aimed at retrieving state-owned vehicles reportedly still in Jumah’s possession. He was not present at the residence during the raid, according to a report by Citi Newsroom.

Jumah, a former appointee under the Nana Addo Dankwa Akufo-Addo administration, is currently under scrutiny for a range of allegations, including financial mismanagement and unauthorised acquisition of state property during his time at the helm of the state-owned beverage company.

One of the central issues under investigation is the purchase of a luxury Genesis G90 saloon car (registration GE 8622-19), which was originally valued at over $100,000. 

Documents indicate that Jumah acquired the vehicle in 2019 at a drastically reduced price of GH¢4,943.11, just 5% of its estimated value, under his Conditions of Service as Managing Director. 

The sale was approved by GIHOC’s Board of Directors in a letter dated August 1, 2019, and documented by the company’s Secretary and Head of Administration, Apea Twumasi-Ankrah.

However, an independent valuation by the State Transport Corporation assessed the car’s market value at GH¢98,862.00. The appraisal was carried out by valuation officer Daniel K. Orhin.

In addition to the Genesis vehicle, Jumah is alleged to have retained two other official vehicles, including an Audi with a market value exceeding $60,000. Reports say one of the vehicles had been in his son’s possession before efforts were made to return them. 

One vehicle has so far been successfully retrieved and transported back to Accra.

Beyond the vehicle issues, Jumah faces additional allegations of financial irregularities during his tenure. 

He is accused of inflating GIHOC’s staff numbers, reportedly increasing the company’s financial burden.

Furthermore, he allegedly authorized the sale of company property in Tema, valued at over $700,000, without obtaining the necessary board approvals.