{
  "id": 10917743,
  "title": "Manhyia South MP’s case with EOCO reopens Equity Savings & Loans file as SIC recovery battle emerges",
  "url": "https://urgent.news/2026/09/30/manhyia-south-mps-case-with-eoco-reopens-equity-savings-loans-file-as",
  "topic": "world",
  "section": "World",
  "published": "2026-09-30T10:08:28.000Z",
  "source": {
    "name": "Adom Online",
    "slug": "adom-online",
    "url": "https://www.adomonline.com/manhyia-south-mps-case-with-eoco-reopens-equity-savings-loans-file-as-sic-recovery-battle-emerges/"
  },
  "original_language": "en",
  "account": "In a surprising turn of events, the case of Manhyia South MP and private legal practitioner Nana Agyei Baffour Awuah with the Economic and Organised Crime Office (EOCO) has led to the reopening of the troubled Equity Savings and Loans Limited (Equity) file. Though the drama unfolded at the Accra High Court on September 23, 2026, the financial implications of Baffour Awuah's involvement have revealed a deeper story.\n\nAccording to Baffour Awuah, his former law firm, Sarkodie Baffour Awuah & Partners, provided legal assistance to SIC Life Savings and Loans Company Limited in an attempt to recover millions of cedis from Equity. EOCO had attempted to arrest Baffour Awuah in February 2026 after he did not accept two invitations to attend meetings. However, his firm maintains that the letters were addressed to him in his capacity as Senior Partner, and that another representative of the firm provided investigators with information and a written statement.\n\nBaffour Awuah further revealed the origins of the transaction at the center of EOCO's interest. Over a period, SIC Life Savings and Loans had invested approximately GH¢3.5 million with Equity Savings and Loans, which subsequently defaulted on its payments. As the debt accumulated interest, the obligation grew to roughly GH¢14 million. His law firm was then instructed to recover the money, which took over two years to negotiate a settlement.\n\nThe recovery process was marred by difficulties in identifying assets belonging to Equity that could be attached to enforce the judgment. During this time, Equity made payments amounting to more than GH¢1 million. When the lawyers discovered that Equity had land at Oyibi, they sought to attach the property to satisfy the judgment. However, another company claimed to have purchased the land from Equity, leading to a legal battle. Eventually, SIC agreed to a negotiated settlement, recovering about GH¢8 million, including legal fees and payments made.\n\nThe revelation of this story is significant not only for Baffour Awuah's personal dispute with EOCO but also for the broader concerns surrounding Equity Savings and Loans. In June, JoyNews reported that numerous customers had been unable to access their deposited funds, with some branches closed and customers reporting difficulties withdrawing their savings. Despite the company's continued listing by the Bank of Ghana, this latest account highlights the challenges faced by ordinary customers in recovering their investments.\n\nWith Equities' assets still under investigation, the central question remains: what assets, if any, are available to meet the company's other obligations? The disclosure adds another layer to the ongoing saga of Equity Savings and Loans, raising concerns about the company's future and the recovery of funds for its affected customers.",
  "summary": "A dispute over the Economic and Organised Crime Office’s (EOCO) attempt to arrest Manhyia South Member of Parliament (MP) and private legal practitioner Nana Agyei Baffour Awuah has unexpectedly brought the troubled Equity Savings and Loans Limited back into the spotlight. Beyond the dramatic scenes at the Accra High Court on September 23, 2026 a […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}