The General Secretary of the LPG, Jerry Owusu, has shed light on the circumstances surrounding the detention of the party’s founder, Kofi Akpaloo, by EOCO.
Jerry Owusu explained that Akpaloo allegedly used a friend’s company documents to secure a COCOBOD road construction contract, but the friend embezzled about 1.3 million cedis of the funds.
According to him, the resulting misunderstanding prompted Akpaloo to transfer the funds into another account for safekeeping, an action that has led EOCO to interrogate him on suspicion of money laundering.
Speaking on Onua FM, Jerry Owusu explained, “The issue is that Kofi Akpaloo used a friend’s company documents to secure a COCOBOD road construction contract. When the money came, his friend embezzled the funds without doing the work, which led to a misunderstanding between him and his friend.
When that happened, after working to a certain point, and he wanted to withdraw funds, his friend refused to withdraw the money for him; his friend even went behind him to cash about 1 million cedis of the cheques without his knowledge and embezzled it at the time he borrowed iron rods and cement for government work”.
He added, “So, Kofi used other means to get his money, the work that we are talking about, the government owes him about 3.5 million, for which he has raised a certificate, which COCOBOD is yet to pay.
The money that he received was 3.1 million, and his friend had embezzled 1.3 million of it. The friend does not know where the work is; the only thing he did was to provide the company documents for the contract”.
“He is still constructing the road, let it be clear, Kofi Akpaloo has not taken any government money, the speculations are too much, the case is even at the High Court between Kofi and his friend”, Jerry Owusu added.
He further revealed that EOCO arrested Kofi Akpaloo for forgery, using someone else’s name to receive money from the bank, and the money laundering is that he did not put the money in his friend’s account, but in another person’s account.
Meanwhile, Kofi Akpaloo is still in the custody of the Economic and Organised Crime Office (EOCO) eight days after his arrest.
Mr Akpaloo remain in EOCO custody after failing to fulfil the GHC10 million bail.
EOCO officials arrested him on Wednesday, September 3, 2025. He has, however, been granted police bail with the following conditions: GHC 10 million bond with 2 sureties to be justified.
The suspect remains in the custody of EOCO pending the fulfilment of the bail conditions”, he added.
On September 3, 2025, news broke of EOCO picking up Kofi Akpaloo, the presidential candidate and leader of the Liberal Party of Ghana (LPG).
According to sources, Kofi Akpaloo was picked up by EOCO’s Surveillance and Asset Recovery unit (SARU).
The family of Kofi Akpaloo confirmed the news but did not disclose any reason for his detention.
The family sources revealed Kofi Akpaloo was picked up from his home in Kumasi.
According to them, they do not know his current whereabouts are unknown.
Meanwhile, the Legal Counsel for Kofi Akpaloo, Enoch Afoakwa, has stated that the Economic and Organised Crime Office (EOCO) has not formally charged his client after his arrest.
According to Afoakwa, Akpaloo’s case involves a civil commercial dispute that is currently under investigation by EOCO.
He added that the case is also being followed before the Commercial Division of the High Court in Accra.
Akpaloo’s legal counsel also refuted widespread rumours that Akpaloo’s wife was also arrested.
Speaking on Adom FM Thursday, September 4, 2025, Afoakwa stated, “He has not been formally charged but has been cautioned on some offences they are investigating”.
“… It centers on a civil commercial dispute which I’m handling parts of and on behalf of Kofi Akpaloo before the High Court’s Commercial Division in Accra. It is the same case EOCO is investigating.
It centres on a civil commercial dispute between a private engagement he undertook. His wife isn’t part of the case but only Akpaloo, who is currently in the custody of EOCO,” he added.
However, Justice Srem Sai, the Deputy Attorney General and Minister of Justice, has revealed why LPG founder Kofi Akpaloo is in the Economic and Organised Crime Office (EOCO) custody.
According to the deputy AG, Kofi Akpaloo is under investigation for allegations of various financial crimes, including fraud, causing financial loss to the State, dissipation of public funds, and money laundering.
In a social media post on X, Justice Srem Sai stated, “Suspect PERCIVAL KOFI AKPALOO is under investigation on allegations of various financial crimes (including fraud, causing financial loss to the State, dissipation of public funds, and money laundering).
EOCO officials arrested him on Wednesday, September 3, 2025. He has, however, been granted police bail with the following conditions: GHC 10 million bond with 2 sureties to be justified.
The suspect remains in the custody of EOCO pending the fulfilment of the bail conditions”, he added.
Watch the video below:
The General Secretary of the LPG has clarified the circumstances surrounding the detention of the party’s founder, Kofi Akpaloo, by EOCO.
— SIKAOFFICIAL🦍 (@SIKAOFFICIAL1) September 11, 2025
He explained that Akpaloo allegedly used a friend’s company documents to secure a COCOBOD road construction contract, but the friend failed… pic.twitter.com/GZk2J3KB8t