Cabinet has directed Attorney-General to conduct criminal investigations into COCOBOD’s activities over the past 8 years – Finance Minister

The Finance Minister, Dr. Cassiel Ato Forson, has announced that the Attorney-General, Dr. Dominic Ayine, has been instructed by the cabinet to conduct a forensic audit and investigation into the activities of the Ghana Cocoa Board (COCOBOD) over the past eight years.

The Finance Minister stated that this is part of efforts to address the challenges facing COCOBOD.

In a press conference held on Thursday, February 12, he stated, “Cabinet has also directed the Attorney-General to commission a concurrent forensic audit and criminal investigation into COCOBOD’s activities over the past eight years.”

Dr. Cassiel Ato Forson announced that 50% of cocoa beans produced in Ghana will be processed domestically starting from the 2026/2027 crop year. This is part of the measures to reform the cocoa sector of Ghana’s economy.

Dr. Cassiel Ato Forson also announced that the cabinet has directed the management of the Ghana Cocoa Board (COCOBOD) to settle all outstanding payments to cocoa farmers.

He made this announcement at a press conference in Accra on Thursday, following a crucial cabinet meeting on Wednesday.

“Cabinet directs COCOBOD to commence immediate payment of all affected farmers,” he stated.

The Finance Minister also announced that a new financing module will utilize domestic cocoa bonds to purchase cocoa and repay proceeds. Bonds will be used to establish a revolving fund.

“PBC will be revived to resume full operations and become the leading licensed buying company, effective immediately,” he stated.