Seven staff members of Cocoa Processing Company PLC have been interdicted following revelations in a special audit conducted by the Ghana Audit Service, which cited GH¢4,373,355.04 as outstanding and unaccounted for in relation to the operations of the CPC Consumer Cooperative Shop.
A letter sighted by 3news addressed to one of the suspects indicate that the audit, which examined activities during the 2023-2024 and 2024-2025 financial periods and was completed in March 2026, uncovered significant irregularities involving products supplied to the union-operated consumer shop located within the company’s premises in Tema.
According to the letter signed by the Managing Director, Prof William Coffie, Ghana Audit Service found that the consumer shop, operated by workers through their unions, had accumulated indebtedness to the company amounting to GH¢4,373,355.04 as of September 2025 for products supplied by CPC.
The report further indicated that the consumer shop allegedly operated rent-free on the company’s premises and did not pay for utilities during the period under review. Auditors warned that the company’s financial position could be adversely affected if the receivables were not recovered promptly.
The affected staff members have been identified as Theodore Matey Tackey, Chairman of the Senior Staff Union; Abdul-Samed Adams, Chairman of the Junior Staff Union; George Yanney, Principal Accounts Officer; Daniel Mensah, Shop Keeper; Genevieve Pawar, Product Research and Development Manager; James Ababio, Production Manager for Confectionery; and Michael Eshun, Chief Engineer.
Management moved swiftly after receiving the audit findings and subsequently issued formal audit queries to the affected staff members, requesting explanations regarding the irregularities identified in the report.
It is understood that the staff members were given the opportunity to respond to the allegations before the interdictions were imposed. Some of the officers are said to have denied wrongdoing and disputed aspects of the findings in their responses to management.
According to Additionally, the Managing Director, Professor William Coffie, management reviewed the responses submitted by the affected officers but found it necessary to initiate further investigations to “arrive at a justifiable conclusion” while complying with the Ghana Audit Service’s recommendations for the recovery of the outstanding amount.
As part of the directives contained in the interdiction notices, the affected officers have been instructed not to make any further withdrawals from the Consumer Shop’s bank accounts and to make themselves available for a comprehensive stock-taking exercise to be jointly conducted by the company’s Audit and Accounts Departments under the supervision of the Security Coordinator.
The interdicted staff are also expected to submit handing-over notes to management while remaining on two-thirds salary pending the outcome of investigations and the final determination of the matter, in accordance with the company’s collective agreement.
In its recommendations, the Ghana Audit Service urged CPC to immediately recover the outstanding receivables from the union-operated shop and ensure that rent, water, and electricity charges are properly accounted for going forward.
