Mike Kofi Afflu, former President of the Chartered Institute of Taxation (CIT) Ghana and West African Union of Tax Institutes, has revealed that his residence was raided when he launched an investigation into the GH¢52.5 billion withdrawn and transferred from GCB Bank to an unknown account in 2020.
In 2020, allegations surfaced that GCB Bank had transferred GH¢52.5 billion to unknown accounts. However, the bank denied the claims, attributing them to a doctored document.
GCB Bank assured the public that it operates under sound banking principles and would never engage in unauthorized transactions. A chartered accountant subsequently petitioned Parliament to investigate the matter and ensure transparency and accountability.
The controversy stemmed from a leaked document, purportedly from the Ghana Audit Service, suggesting that GCB Bank transferred tax revenues from the Ghana Revenue Authority to unidentified sources.
GCB Bank maintained that the document was doctored and that no such unauthorised transfers occurred.
The Audit Service, on its part, responding to the allegations, stated that the document in question was part of an audit exercise sanctioned by the then Minister of Finance, Ken Ofori-Atta.
The Audit Service indicated that they were tracing the transfers and intended to surcharge any bank that defaulted in tax collections. Ultimately, the matter was brought before the Public Accounts Committee of Parliament for investigation and public explanation.
In an interaction with Captain Smart on Onua TV’s morning show, Maakye, on Tuesday, June 24, 2025, Mr. Afflu, disclosed that his abode was ransacked when he commenced investigation into the matter.
According to him, when he reported the matter to the police, he said he was told the raid was an order from above.
