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

Sedina Christine Tamakloe Attionu, former Microfinance and Small Loans Centre (MASLOC) Chief Executive Officer, faced a criminal case built around alleged financial irregularities that occurred during her tenure between 2013 and 2017. The allegations led to a trial involving 78 charges, following audits and investigations by state agencies, including the Economic and Organised Crime Office (EOCO). The prosecution's case stated that investigations stemmed from a pattern of activities across four major areas of MASLOC's operations: investments in microfinance companies, a financial literacy programme, support for Kantamanto fire victims, and the procurement of vehicles and other items.

One issue that reportedly drew investigators' attention was a transaction involving Obaatanpa Microfinance in 2014. MASLOC had initially invested GH¢150,000 in the company before approving an additional GH¢500,000 facility. The prosecution alleged that after MASLOC issued an Agricultural Development Bank (ADB) cheque for the investment, disagreements arose over the interest rate the company was expected to pay. The state claimed Sedina Tamakloe demanded a 24 per cent return for MASLOC, but Obaatanpa rejected the arrangement, leading to a request for the return of the funds. Investigators alleged that when Obaatanpa attempted to refund the money by cheque, the former MASLOC CEO insisted on receiving cash instead.