• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, January 14, 2026
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Ghana’s Asset Declaration System: A Flawed Process?

Lilian Ahedorby Lilian Ahedor
February 25, 2025
Reading Time: 6 mins read
Dr. George Asekere weighs in by-elections in Ghana

Dr. George Asekere, Political Scientist

Dr. George Asekere, a political scientist, has strongly criticized Ghana’s current asset declaration system, describing it as outdated and largely symbolic. 

According to him, while public officials declare their assets, the lack of independent verification renders the process meaningless.

“Officials declare their assets, but who actually sees them? The information remains accessible only to those in government, regardless of which party is in power,” Dr. Asekere questioned, arguing that without transparency, the system does little to ensure accountability.

RelatedPosts

Ghana Gains from Three-Year AGOA Extension by US Congress

Assibey-Yeboah Demands ‘Unconventional’ Pivot To Ken Agyapong To Save NPP From 2028 Oblivion

NaCCA Denies Claims of LGBTQ Content in SHS Curriculum

In an interview with Vaultz News, he stated that without independent oversight and media access, the entire process becomes meaningless. “It neither enhances transparency nor holds public officials accountable.”

According to Dr. Asekere, while the intent behind asset declaration is commendable, its current implementation achieves nothing. 

politicians and asset declaration
politicians and asset declaration

He referenced former Auditor-General Daniel Domelevo, who has called for an independent verification system to ensure credibility.

ADVERTISEMENT

“For example, if an official claims to own two houses, there should be a system to verify their location, value, and how they were acquired. Without such checks, officials can easily manipulate the system—building an unreported underground structure years later or registering properties under relatives’ names.”

Dr. George Asekere

Dr. Asekere further warned that public officials could use various loopholes to conceal wealth. Without independent verification, he argued, officials can claim assets were acquired through lottery winnings or funeral donations, making it difficult to track illicit gains. 

He insisted that allowing journalists and watchdog groups to scrutinize these declarations would add a much-needed layer of accountability.

The Debate on Lifestyle Audits

While advocating for transparency in asset declaration, Dr. Asekere remains cautious about lifestyle audits. 

He acknowledged that changes in lifestyle could be genuine and depend on legitimate income increases.

“A government worker earning four times their previous salary will naturally experience lifestyle changes—perhaps drinking more expensive beverages or upgrading their vehicle. Such changes alone should not raise suspicion.”

Dr. George Asekere
lifestyle audit to enforce proper asset declaration
audit

However, he emphasized that while lifestyle changes can be justified by increased earnings, an abrupt and disproportionate accumulation of wealth should raise red flags. 

“When a public official with a known salary suddenly amasses massive wealth—building ten-story structures or acquiring multiple luxury vehicles within a short period—it becomes questionable”.

Dr. George Asekere

Accordingly, he emphasized that such cases require audits to determine whether the wealth was obtained legitimately or through questionable means.

Dr. Asekere further recommended setting clear benchmarks for what constitutes unusual or excessive wealth accumulation to prevent arbitrary investigations. 

As such, he warned that without these guidelines, lifestyle audits could be misused or politicized.

Dr. Asekere also lamented that Ghana’s legal framework disproportionately shields the political elite while ordinary citizens face stricter legal consequences.

“If your editor [referring to the interviewer] violates the law, they risk immediate repercussions. However, how many MPs or high-ranking officials face similar consequences for disregarding court rulings?” 

Dr. George Asekere

He argued that a system designed to protect the powerful undermines the effectiveness of asset declaration laws. 

Unless there is a fundamental shift towards equal accountability, he believes the current system will remain ineffective.

The Public’s Loss of Trust in Governance

Furthermore, Dr. George Asekere asserted that the lack of transparency in asset declarations is eroding public trust. 

He noted that when citizens see officials falsifying declarations without repercussions, it weakens confidence in governance.

“Making the process more transparent would strengthen democracy and public accountability. If officials have nothing to hide, they should not fear public scrutiny of their assets.”

Dr. George Asekere
proper asset declaration regime to ensure public trust
public trust

He emphasized that if an official enters government with one house and leaves with the same, there should be no concern. 

Transparency, he stressed, builds trust in leadership and institutions.

For real change, Dr. Asekere proposed a system where public officials’ earnings and expenditures are publicly accessible. 

He argued that independent verification is essential, but journalists should also play a significant role.

“Unlike some so-called independent bodies, journalists have no obligation to protect public officials. Their job is to report facts.”

Dr. George Asekere

He maintained that increasing transparency in asset declarations would significantly enhance democratic governance.

Global Best Practices

Moreover, Dr. George Asekere pointed to global best practices, particularly in the United Kingdom, where public officials’ salaries, assets, and allowances are accessible to the public. “Citizens can verify what assets a government official owns, promoting transparency and accountability.”

asset declaration regime in Ghana
asset declaration

While he acknowledged that some countries adopt extreme anti-corruption measures, such as execution in North Korea, he stressed that Ghana should focus on building a robust, transparent, and verifiable system to hold officials accountable.

The call for an improved asset declaration system is gaining momentum, with experts like Dr. Asekere emphasizing the need for independent verification and greater media involvement. 

With growing public discontent over corruption, Ghana faces increasing pressure to reform its accountability structures. Whether political leaders will embrace these reforms remains to be seen, but the push for transparency is stronger than ever.

READ ALSO: UNGA Adopts Resolution Against Russia 

Tags: accountabilityAsset DeclarationCorruptionGhana PoliticsGovernancetransparency
Share4Tweet3Share1SendSend
Please login to join discussion
Previous Post

Free SHS Subsidizes the Rich More than it Frees the Poor

Next Post

South Africa’s AGOA Future in Jeopardy Under Trump

Related Posts

Minister for Foreign Affairs, Hon. Samuel Okudzeto Ablakwa and Acting US Ambassador to Ghana, Rolf Olson
General News

Ghana Gains from Three-Year AGOA Extension by US Congress

January 14, 2026
Dr. Mark Assibey-Yeboah, Former MP for New Juaben South
General News

Assibey-Yeboah Demands ‘Unconventional’ Pivot To Ken Agyapong To Save NPP From 2028 Oblivion

January 14, 2026
Director General of NaCCA, Professor Samuel O. Ofori Bekoe
General News

NaCCA Denies Claims of LGBTQ Content in SHS Curriculum

January 14, 2026
Dr. Jebuntie Zaato
General News

Senior NPP Members Have No License For Reckless Commentary – Zaato Slams Frimpong-Boateng

January 13, 2026
Hon. Joseph Bukari Nikpe, Ghana's Transport Minister
General News

Gov’t to Transform KIA Terminal 2 into Multipurpose Facility to Ease Congestion

January 13, 2026
Mr. Adam Mutawakilu, Managing Director of GWL
General News

GWL Declares War On Internal Sabotage And Water Theft With Massive Managerial Shake-Up

January 13, 2026
Lawyer Sammy Gyamfi, Gold Board CEO
Extractives/Energy

GoldBod Calls for Informed Discussion Amidst Split Opinions

by Bless Banir YarayeJanuary 14, 2026
Minister for Foreign Affairs, Hon. Samuel Okudzeto Ablakwa and Acting US Ambassador to Ghana, Rolf Olson
General News

Ghana Gains from Three-Year AGOA Extension by US Congress

by Evans Junior OwuJanuary 14, 2026
COMAC Market Outlook Report
Extractives/Energy

COMAC Raises Alarm Over Regulatory Lapses

by Prince AgyapongJanuary 14, 2026
Extractives/Energy

Russia Asserts Ownership of Oil Assets It’s Developing in Venezuela

by Prince AgyapongJanuary 14, 2026
Government Borrowing Slump Drags Banking Sector Credit to Lowest Levels in a Year
Banking

Government Borrowing Slump Drags Banking Sector Credit to Lowest Levels in a Year

by M.CJanuary 14, 2026
Best Assurance Signals New Growth Era with Appointment of Robert Wugah as MD
Insurance

Best Assurance Signals New Growth Era with Appointment of Robert Wugah as MD

by M.CJanuary 14, 2026
Lawyer Sammy Gyamfi, Gold Board CEO
Minister for Foreign Affairs, Hon. Samuel Okudzeto Ablakwa and Acting US Ambassador to Ghana, Rolf Olson
COMAC Market Outlook Report
Government Borrowing Slump Drags Banking Sector Credit to Lowest Levels in a Year
Best Assurance Signals New Growth Era with Appointment of Robert Wugah as MD

Recent News

Lawyer Sammy Gyamfi, Gold Board CEO

GoldBod Calls for Informed Discussion Amidst Split Opinions

January 14, 2026
Minister for Foreign Affairs, Hon. Samuel Okudzeto Ablakwa and Acting US Ambassador to Ghana, Rolf Olson

Ghana Gains from Three-Year AGOA Extension by US Congress

January 14, 2026
COMAC Market Outlook Report

COMAC Raises Alarm Over Regulatory Lapses

January 14, 2026
Whisk a709e320dca557cbcf84875e534e7156dr

Russia Asserts Ownership of Oil Assets It’s Developing in Venezuela

January 14, 2026
Government Borrowing Slump Drags Banking Sector Credit to Lowest Levels in a Year

Government Borrowing Slump Drags Banking Sector Credit to Lowest Levels in a Year

January 14, 2026
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address