The government has disclosed that assets valued at approximately 1.5 billion Ghana cedis have been frozen under ongoing investigations and prosecutions linked to Operation Recover All Loot, known as ORAL.
The update was given by Hon. Felix Kwakye Ofosu, Presidential Spokesperson and Minister of State in charge of Government Communications, during a statement delivered in Parliament.
Addressing the House, the Minister explained that the asset freeze forms part of lawful measures available to the state while investigations and court proceedings are ongoing. He stressed that the process reflects respect for due process and the rule of law, rather than a rush to make premature claims of recovery.
In setting the broader context, Hon. Kwakye Ofosu said Ghana’s economy has shown signs of recovery after a period of significant strain. He attributed the improvement to prudent economic management and reforms aimed at restoring confidence in public finance and governance.
“Today, like Lazarus, the Ghanaian economy has woken from the dead. Like the phoenix, the Ghanaian economy has risen from the ashes of collapse, and this has happened because of prudent economic management.”
Hon. Felix Kwakye Ofosu, Presidential Spokesperson and Minister of State in charge of Government Communications
He linked the economic turnaround to renewed discipline, transparency, and efforts to strengthen accountability across state institutions.
Clarifying Public Claims on Recoveries
The Minister used the parliamentary platform to address what he described as inaccurate public commentary regarding asset recoveries under ORAL. He clarified that claims suggesting 600 million Ghana cedis had already been recovered under the operation were not based on statements made by the President.
“Mr Speaker, it has been claimed that the President said that 600 million Ghana cedis has been recovered from Operation Recover All Loot. That is not accurate. The President never made reference to ORAL in respect of the 600 million Ghana cedis.”
Hon. Felix Kwakye Ofosu, Presidential Spokesperson and Minister of State in charge of Government Communications
He emphasised that precision in public discourse is essential to maintaining trust in state processes. Hon. Kwakye Ofosu explained that under Ghana’s legal system, asset recovery can only occur after investigations are completed and convictions secured by the courts.
Until then, the law permits only interim measures, such as freezing assets, to prevent their dissipation. “In respect of ORAL, unless and until persons who are under investigation or before the court have been convicted, you cannot recover anything from them,” he said.
“The most that can be done is that their assets can be frozen.” He noted that this approach protects constitutional rights while safeguarding potential proceeds of crime.
Details of the GHS1.5bn Asset Freeze
Providing specific figures, the Minister informed Parliament that assets worth about 1.5 billion Ghana cedis have been frozen so far. He said these assets are linked to individuals currently under investigation or already before the courts in connection with ORAL related cases.
“As far as that goes, Mr Speaker, I can report to you that 1.5 billion Ghana cedis is in assets that have been frozen by people undergoing investigations and those before the court”.
Hon. Felix Kwakye Ofosu, Presidential Spokesperson and Minister of State in charge of Government Communications
He added that the cases involved form part of approximately 280 ORAL files that are presently being examined by investigative and prosecutorial bodies. According to the Minister, asset freezing is a preventive legal measure designed to preserve value while cases progress through the justice system.
He explained that the objective is to ensure that if convictions are secured, the state will be able to lawfully recover assets for the benefit of the public.
He stressed that freezing assets should not be misconstrued as a declaration of guilt. Rather, it is a safeguard that balances public interest with the presumption of innocence guaranteed under the law. He said this distinction is crucial in a democratic society governed by constitutional principles.
ORAL and the Accountability Agenda
Operation Recover All Loot has emerged as a key component of the government’s broader accountability and anti corruption agenda. Hon. Kwakye Ofosu suggested that the scale of assets frozen demonstrates that investigations are substantive and far reaching.
He indicated that while the public may be eager to see recoveries, adherence to due process remains non-negotiable. According to him, shortcuts would undermine the credibility of prosecutions and weaken confidence in governance institutions.
The Minister acknowledged strong public interest in the outcomes of ORAL cases but cautioned against conflating asset freezing with asset recovery. He said government remains committed to allowing the courts to determine guilt or innocence based on evidence.
He assured Parliament that updates would be provided as cases advance, noting that convictions are the legal threshold for recovery. Until then, he said, the focus remains on protecting state interests while ensuring fair trials.
As ORAL cases proceed through the justice system, government officials maintain that the freezing of assets worth 1.5 billion Ghana cedis represents a significant step in safeguarding public resources.
Authorities say the process reinforces the principle that accountability must be pursued within the bounds of the law, even as Ghana works to consolidate economic recovery and strengthen public trust.
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