Ghana is facing a crisis of integrity; not because the truth is unclear, but because those entrusted with safeguarding it are attempting to bury it.
The Minerals Income Investment Fund (MIIF), one of the nation’s most consequential sovereign investment institutions, has been shaken by revelations of fabrication, coercion, and calculated deception.
These revelations, confirmed by official correspondence from the Auditor-General, now place this scandal squarely at the doorstep of the Presidency.
The findings are severe. They cannot be dismissed. They cannot be ignored. And they demand immediate accountability.
A Sovereign Fund in the Grip of Manipulation
This newspaper’s investigation has established that elements within MIIF’s current leadership, led by CEO Justina Nelson, attempted to engineer a narrative of mismanagement against the Fund’s former executives.
Their aim was precise: tarnish reputations, rewrite history, and justify an unlawful persecution of persons who oversaw what the Auditor-General has now confirmed was a profitable, prudently managed institution.
When the numbers refused to support their predetermined narrative, MIIF’s leadership did something unprecedented and dangerous. They tried to persuade the Auditor-General to rewrite a completed, signed, and constitutionally final audit report.
We must say this clearly: “Attempts to alter a signed audit report are not just improper; they are a serious threat to the integrity of Ghana’s public financial management.” The Auditor-General, to his credit, refused.
A Culture of Intimidation and Selective Persecution
Instead of accepting the truth, MIIF’s leadership turned to another tool – intimidation.
Former board members and executives were selectively targeted for arrest by the Office of the Special Prosecutor and EOCO. Only those whose arrests would reinforce the false narrative of mismanagement were pursued.
This is not accountability. This is not justice
This is the weaponisation of law enforcement against individuals who were, by every objective financial metric, innocent.
What makes this abuse even more alarming is MIIF’s refusal to release the 2024 audited financial statements, documents they are legally required to publish under the MIIF Act.
The Fund has ignored multiple RTI requests, not because the documents do not exist, but because they reveal a truth that contradicts management’s public messaging. This kind of institutional opacity has no place in a democracy like Ghana’s.
The President Cannot Remain Silent
MIIF is not an ordinary state agency. It is the custodian of Ghana’s mineral royalties, an entity whose transparency and credibility directly influence investor confidence, sovereign risk, and the nation’s global reputation.
That an institution of this importance is now embroiled in allegations of falsification, cover-up, and political manipulation is unacceptable. The President must intervene, not tomorrow, not next month, but now.
The following questions demand answers:
What will the President do about a CEO who attempted to coerce the Auditor-General into rewriting a legally binding audit?
Why has MIIF not complied with the MIIF Act and RTI Act?
Why were former executives arrested based on financial statements the Auditor-General later affirmed were accurate?
Why is MIIF still denying the profitability confirmed in its own signed audited financial statements?
Silence is complicity. And complicity will cost the nation. Resetting Trust Requires Action. The President must immediately:
Order the public release of MIIF’s 2024 audited financial statements, Direct the Attorney-General to review the conduct of MIIF’s leadership, Instruct the Board of MIIF to initiate an independent inquiry, Ensure the Audit Service is protected from pressure and political interference and Safeguard the integrity of sovereign funds from further manipulation.
Anything less would embolden the worst instincts within our public institutions.
Ghana Deserves Better
A sovereign investment fund is built on trust, trust that the numbers are real, trust that the leadership is honest, trust that the law is obeyed. That trust has been broken.
The scandal at MIIF is not merely an administrative failure. It is a moral failure. A governance failure. A failure of leadership. Ghanaians are watching. The investment community is watching. The world is watching.
The President must rise to the moment. The truth must be upheld. Accountability must be enforced, and those who sought to manipulate the financial history of this entity must face consequences. The stability and reputation of Ghana’s sovereign financial architecture depend on it.
