• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, May 14, 2025
  • 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?

February 25, 2025
Lilian Ahedorby Lilian Ahedor
in General News, Sub Top Stories1
0
Dr. George Asekere weighs in on Ghana's security appointments

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Asekere, a political scientist, has strongly criticized Ghana’s current asset declaration system, describing it as outdated and largely symbolic.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

Dafeamekpor Sues Ntim Fordjour for Defamation 

Dep. AG Insists Loot Must Be Returned, Not Enjoyed

Fmr. GIIF CEO, Board Chair Charged over $2 Million Sky Train Scandal

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.

“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
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

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Atuabo Gas Processing Plant
Extractives/Energy

Ghana Aims for 100% Gas-Fired Thermal Power by 2029 

May 13, 2025
Hon. Reverend John Ntim Fordjour, MP for Assin South
General News

Dafeamekpor Sues Ntim Fordjour for Defamation 

May 13, 2025
Justice Srem-Sai, Money, Recovery
General News

Dep. AG Insists Loot Must Be Returned, Not Enjoyed

May 13, 2025
U.S. Secretary of State, Marco Rubio To Visit Turkey For Possible Russia-Ukraine Talks
USA

Rubio To Visit Turkey For Possible Russia-Ukraine Talks

May 13, 2025
Trump To Remove All US Sanctions On Syria
Asia

Trump To Remove All US Sanctions On Syria

May 13, 2025
UN Condemns US Deportation Of Venezuelan Migrants
Around the Globe

UN Condemns US Deportation Of Migrants

May 13, 2025
Atuabo Gas Processing Plant
Extractives/Energy

Ghana Aims for 100% Gas-Fired Thermal Power by 2029 

by Prince AgyapongMay 13, 2025
Hon. Reverend John Ntim Fordjour, MP for Assin South
General News

Dafeamekpor Sues Ntim Fordjour for Defamation 

by Evans Junior OwuMay 13, 2025
Justice Srem-Sai, Money, Recovery
General News

Dep. AG Insists Loot Must Be Returned, Not Enjoyed

by Silas Kafui AssemMay 13, 2025
U.S. Secretary of State, Marco Rubio To Visit Turkey For Possible Russia-Ukraine Talks
USA

Rubio To Visit Turkey For Possible Russia-Ukraine Talks

by Comfort AmpomaaMay 13, 2025
Trump To Remove All US Sanctions On Syria
Asia

Trump To Remove All US Sanctions On Syria

by Comfort AmpomaaMay 13, 2025
UN Condemns US Deportation Of Venezuelan Migrants
Around the Globe

UN Condemns US Deportation Of Migrants

by Lawrence AnkutseMay 13, 2025
Atuabo Gas Processing Plant
Hon. Reverend John Ntim Fordjour, MP for Assin South
Justice Srem-Sai, Money, Recovery
U.S. Secretary of State, Marco Rubio To Visit Turkey For Possible Russia-Ukraine Talks
Trump To Remove All US Sanctions On Syria
UN Condemns US Deportation Of Venezuelan Migrants
[/vc_row_inner]

Recent News

  • Ghana Aims for 100% Gas-Fired Thermal Power by 2029 
  • Dafeamekpor Sues Ntim Fordjour for Defamation 
  • Dep. AG Insists Loot Must Be Returned, Not Enjoyed
  • Rubio To Visit Turkey For Possible Russia-Ukraine Talks
  • Trump To Remove All US Sanctions On Syria
The Vaultz News

Copyright © 2021 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 © 2021 The Vaultz News. All rights reserved.