EOCO CLEARS AIR ON REPORTED ARREST OF SPRINGFIELD ENERGY CEO IN DUBAI, REVEALS ACTIVE INVESTIGATIONS
Anti-Graft Agency Denies Inaction, Confirms Two Probes Involving Company Amidst $90M Fraud Allegations
The Economic and Organised Crime Office (EOCO) has broken its silence on reports surrounding Springfield Energy CEO Kevin Okyere’s alleged arrest in Dubai, clarifying that it has two active investigations into the company and dismissing claims of its inaction as “false.”
The clarification comes in response to a report by online outlet Novareport which claimed EOCO failed to act on a petition alleging fraud involving the energy firm.
In an official statement, EOCO refuted these claims, revealing for the first time the scope of its ongoing probes. “Contrary to the claims made by Novareport, EOCO has two active investigations involving Springfield Energy,” the statement from the Head of Public Affairs said. “The first is a petition against Springfield Energy, and the second is an explosive case between BOST and Springfield Energy.”
The agency also took the opportunity to outline its core operational principle, stating, “It is the policy directive of the leadership of EOCO that investigations must precede arrest and not the reverse.”
EOCO emphasized that the case between the Bulk Oil Storage and Transportation Company Limited (BOST) and Springfield Energy is a high-priority matter due to its “direct impact on BOST’s finances and the broader Ghanaian economy.”
While expressing regret that Novareport did not seek clarification before publishing, EOCO assured the public of its commitment to “investigating and prosecuting economic and organised crimes in Ghana.”
Background of the Allegations
The EOCO statement follows circulating reports that Kevin Okyere was arrested in Dubai after his passport was flagged upon entry for a meeting with Russian energy giant Lukoil. The alleged arrest was linked to an unresolved arbitration notice and a civil enforcement request related to serious fraud allegations.
The claims, estimated to involve between $90 million and $94 million, originate from a petition filed in May 2025 by Swiss oil company Petraco. The petition accuses GMP Energy, a company associated with Springfield, of diverting proceeds from crude-oil liftings and failing to meet reconciliation obligations.
Specific disputes include over $30 million in petroleum sales where GMP allegedly received full payment from BOST but did not remit the funds to Petraco, as well as a $50 million loan from a $100 million facility meant for a project that was reportedly not viable.
Source:NKONKONSA.com
