The Minister for Government Communications, Felix Kwakye Ofosu, has disclosed that assets worth GH¢1.5 billion have been frozen as part of ongoing investigations under Operation Recover All Loot (ORAL).
He explained that while significant progress has been made in tracing and securing suspected illicit assets, large portions of the funds cannot be permanently recovered until the individuals implicated are successfully prosecuted and convicted in court.
Mr. Kwakye Ofosu made the remarks while contributing to the debate on the State of the Nation Address delivered by John Dramani Mahama on Tuesday, March 3. He dismissed claims that the Economic and Organised Crime Office (EOCO) had recovered only GH¢600 million under the ORAL initiative.
According to him, the GH¢600 million figure being cited relates to recoveries made by EOCO through its routine anti-corruption and financial crime operations, and not funds specifically retrieved under ORAL.
Operation Recover All Loot (ORAL) is a flagship anti-corruption initiative launched by the Mahama administration aimed at tracing, freezing and recovering state assets allegedly lost through corruption, financial mismanagement and illicit enrichment.
The initiative involves collaboration between EOCO and other state investigative bodies to identify suspicious transactions, secure assets, and pursue legal action where necessary.
Since its rollout, ORAL has become a central plank of the government’s accountability agenda, with officials maintaining that asset recovery processes require due legal procedure, including investigations, prosecutions and court orders before final forfeiture to the state can occur.
Mr. Kwakye Ofosu reiterated that government remains committed to pursuing cases to their logical conclusion to ensure that misappropriated public funds are fully recovered in accordance with the law.
