MASLOC case: How alleged financial irregularities under Sedina triggered investigations and 78 charges

Former Microfinance and Small Loans Centre (MASLOC) Chief Executive Officer, Sedina Christine Tamakloe Attionu, faces 78 charges stemming from alleged financial irregularities during her tenure from 2013 to 2017. These charges were established through audits and investigations by state agencies, including the Economic and Organised Crime Office (EOCO), into transactions under her leadership.

The alleged irregularities encompassed four major areas of MASLOC's operations: microfinance company investments, a financial literacy programme, support for Kantamanto fire victims, and vehicle and item procurement. One of the earliest concerns was a transaction involving Obaatanpa Microfinance in 2014, where the prosecution alleged a disagreement over the interest rate Sedina demanded, and her insistence on receiving cash instead of a cheque.

Investigations also focused on a financial literacy programme that allegedly had only GH¢1,300 spent out of the GH¢1.7 million allocated, with the balance misappropriated. The investigation into Kantamanto fire relief funds revealed that more than GH¢500,000 was lost as the funds were not used for their intended purpose. The procurement of 350 vehicles for MASLOC was another area of concern, with the prosecution alleging inflated prices for several vehicles, leading to a loss of over GH¢22 million.

Additionally, Sedina and her deputy were accused of receiving unauthorized end-of-tenure benefits, totaling more than GH¢270,000. The direct loss to the state and unapproved supply obligations formed the basis of the criminal charges against Sedina and her operations manager. However, after years of legal proceedings, the case was dismissed by the Court of Appeal, clearing Sedina Tamakloe of all charges.