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Charles Okyere, lawyer for the embattled former Managing Director of the Bulk Oil Storage and Transportation Company Limited (BOST), Edwin Provencal, has disclosed that his client’s bail terms have been reduced from GH¢60 million to GH¢30 million.
He explained that his client’s arrest relates to allegations of causing financial loss to the state, though he stressed that there is no evidence of wrongdoing on Provencal’s part.
Okyere made the announcement after securing the varied bail terms, which now include two sureties and an order requiring Provencal to deposit his passport with the court registry.
It is alleged that the ex-BOST boss was fleeing the country to avoid a criminal investigation. He was fully aware that he wasn’t supposed to leave, but chose to embark on a trip to Mozambique, amid claims that he was going to hit the road for South Africa, where he plans to cool off.
“EOCO is purportedly investigating him for causing financial loss. It’s a very detailed matter. The supposed financial loss itself has not even occurred. There’s no loss at the moment. So you cannot be investigating somebody or charging somebody for a crime that has not been committed,” he said.
Provencal was apprehended at Kotoka International Airport (KIA) on Monday, 10 November, while attempting to board a flight to Maputo, Mozambique, without obtaining the required authorisation.
The former BOST Chief Executive Officer reportedly spent the night in the custody of the Economic and Organised Crime Office (EOCO), where he remains under investigation.
According to insiders, Mr Provencal was arrested at KIA while preparing to travel without the necessary clearance. Officials stated that the arrest was required to prevent the ongoing probe into his tenure at BOST from being compromised. During his time as CEO, Mr Provencal oversaw critical aspects of Ghana’s fuel supply and storage infrastructure.
The arrest comes amid an ongoing EOCO investigation into BOST’s operations, as the government reiterates its commitment to accountability and transparency in state-owned enterprises.
Two weeks ago, EOCO responded to recent reports by online news portal Novareport, which claimed that Springfield Energy CEO Kevin Okyere had been arrested in Dubai following the agency’s alleged inaction on a petition against the company.
In a statement issued on 2 November, EOCO dismissed the report as false and misleading, stating that it currently has two active investigations involving Springfield Energy.
“Contrary to the claims made by Novareport, EOCO has two active investigations involving Springfield Energy. The first is a petition against Springfield Energy, and the second is an explosive case between BOST and Springfield Energy,” the statement read.
EOCO explained that it operates under a strict policy directive requiring investigations to precede any arrest.
“It is the policy directive of the leadership of EOCO that investigations must precede arrest and not the reverse,” it added.
The Office further stated that the BOST–Springfield case remains a top priority due to its potential impact on BOST’s finances and on the national economy.
While refraining from commenting on ongoing investigations, EOCO expressed disappointment that Novareport had published the claims without verification.
“EOCO assures the public that it is committed to investigating and prosecuting economic and organised crimes in Ghana, and we will continue to work diligently to achieve our mandate. We urge the public to disregard the false claims made by Novareport and to note that EOCO is actively working on not one, but two investigations involving Springfield Energy,” the statement concluded.
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