Attorney-General and Minister for Justice, Dr. Dominic Ayine, is scheduled to provide a media update today [Monday, March 24] on the progress of the Operation Recover All Loot (ORAL) initiative.
This was announced by Minister of Government Communications, Felix Kwakye Ofosu, through a social media post.
The upcoming briefing follows the ORAL Committee’s report submission to President Mahama in February, which outlined over 2,000 cases of alleged corruption.
In response, the President ordered Dr. Ayine to begin immediate investigations, reaffirming that Ghana will no longer be a safe haven for corruption.
Today’s briefing follows findings from the Operation Recover All Loot (ORAL) Committee, which has identified approximately $21.19 billion in potential recoveries from misappropriated state assets and undervalued land transactions.
During the handover of the committee’s report on February 10, 2025, in Accra, ORAL Chairman Samuel Okudzeto Ablakwa detailed cases that could significantly improve Ghana’s financial standing.
Investigations into 36 high-profile corruption cases alone could yield $20.49 billion if successful.
“If we are successful in recoveries, we can retrieve as much as 20.49 billion United States dollars,” Ablakwa stated. Among the key cases cited were the National Cathedral project, the Power Distribution Services (PDS) deal, and the Saltpond decommissioning project.
The committee also reported significant undervaluation of state lands, leading to a revenue loss of $702.8 million. Ablakwa highlighted instances where valuable lands were sold at prices far below market value.
“Some people acquired prime Cantonments land for as low as 42,000 cedis—land that should fetch $500,000 or more per plot at fair market value,” he revealed.
The ORAL Committee believes reassessing these transactions and reclaiming undervalued lands could contribute substantially to economic recovery. “If we just ask people to pay the real market value, we stand to recover this amount,” Ablakwa added.
The committee’s efforts have also gained international attention, with forensic firms offering assistance in tracking offshore assets linked to corruption. “We have received a number of international requests to support this initiative, particularly in forensic tracking of offshore accounts,” Ablakwa noted. Some firms have proposed working without upfront fees, instead requesting a share of successfully recovered assets.
As Ghana faces economic challenges, Ablakwa underscored the importance of these recoveries. “This amount is far more than what we have been chasing the IMF for, and subjecting ourselves to all kinds of conditionalities,” he remarked, emphasizing that effective asset recovery could help restore financial independence.
The Operation Recover All Loot Committee was established on December 18, 2024, by President John Dramani Mahama to track and reclaim looted state assets.
It is chaired by North Tongu MP Samuel Okudzeto Ablakwa and includes former Auditor-General Daniel Yao Domelevo, retired Commissioner of Police Kofi Boakye, private legal practitioner Martin Kpebu, and investigative journalist Raymond Archer.
With Dr. Ayine set to brief the public, attention will be on the government’s approach to prosecutions, asset recovery, and policies to prevent future misappropriation of state resources.