Koforidua: The Ghana Anti-Corruption Coalition (GACC) has conducted a workshop focused on asset recovery and management for media representatives, community-based organisations (CBOs), and civil society organisations (CSOs) in Koforidua. The event forms a part of the initiative titled 'Building Political Will and Public Support for Asset Recovery in Ghana', with financial backing from the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).
According to Ghana News Agency, the workshop aimed to enhance public comprehension and bolster the influence of civil society and the media in furthering Ghana's asset recovery efforts. During the event, Mr. Solomon Nyankah, Monitoring and Evaluation Officer at GACC, highlighted the severe impact of corruption on developing nations, resulting in annual losses amounting to billions through embezzlement, bribery, and misuse of public resources. He noted that Ghana faces a loss of approximately US$ 3 billion each year due to trade mis-invoicing.
Mr. Nyankah pointed out that Ghana's attempts to effectively recover and manage stolen assets are hampered by limited public awareness, weak institutional frameworks, and inadequate collaboration among civil society organisations, government agencies, and the media. Participants at the workshop were educated on Ghana's legal and institutional structures for recovering proceeds of crime, alongside the role of citizens and the media in asset recovery.
Madam Esther Preprah Asamoah from the Compliance Department of the Financial Intelligence Centre (FIC), Ghana, elaborated on the asset recovery process, which includes pre-investigation, investigation, judicial proceedings, and the disposal or return of assets. She provided an overview of Ghana's asset recovery regime, explaining its alignment with international obligations under the United Nations Convention against Corruption (UNCAC), ratified by Ghana in 2007. Further guidance comes from the Financial Action Task Force (FATF) Recommendations and the ECOWAS Protocol on the Fight against Corruption.
Madam Asamoah outlined the legal frameworks supporting asset recovery, including the Economic and Organised Crime Office (EOCO) Act, 2010 (Act 804); the Anti-Money Laundering Act, 2020 (Act 1044); and the Office of the Special Prosecutor Act, 2017 (Act 957). She urged civil society and media to act as watchdogs, engaging in investigative journalism to trace illicit assets and contributing to policy and legislative reforms.
Mr. Emmanuel Kwaku Dzakpata from the Legal and Prosecutions Department of EOCO discussed EOCO's role in investigating and prosecuting severe financial or economic offences. He identified challenges in asset recovery, such as litigation delays due to congested court dockets and procedural technicalities. EOCO faces constraints in financial, technological, and human resources essential for complex investigations and asset tracing, particularly across borders.
Highlighting EOCO's successes, Mr. Dzakpata mentioned the recovery of 308 million Ghana cedis in 2023 and 200 million Ghana cedis in 2024, along with the confiscation of properties nationwide and international collaborations such as the Asset Recovery Interagency Network Africa. Recommendations to address challenges included intensifying legal tools like plea bargaining, continuous capacity building, policy reforms, and the use of digital forensic tools. Additionally, government, civil society, and development partners are encouraged to support EOCO through funding, legislative backing, and public awareness campaigns to enhance asset recovery and ensure accountability in Ghana.
