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    Home»Business»Understanding Ghana’s asset declaration law: Is it time for change?
    Business

    Understanding Ghana’s asset declaration law: Is it time for change?

    ZamZam UpdateBy ZamZam UpdateFebruary 20, 2025No Comments3 Mins Read
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    For the reason that Fourth Republic started in 1992, Ghana’s asset declaration legislation has been a key a part of the nation’s combat in opposition to corruption. The concept is straightforward—public officers should declare their wealth to forestall illicit enrichment. In actuality, the legislation does little greater than gather mud in sealed envelopes.

    Now, with President John Mahama open to more durable guidelines and the Auditor-Basic backing reforms, there’s a uncommon likelihood to show this symbolic gesture into an actual instrument in opposition to corruption.

    A System Constructed on Belief—Perhaps Too A lot

    Ghana’s asset declaration legislation relies on Article 286 of the 1992 Structure and Act 550 of 1998. However as with many legal guidelines, the issue lies within the particulars—and the loopholes.

    The legislation covers a variety of public officers—everybody from the President and Members of Parliament to judges, ministers, and heads of state-owned enterprises. These officers should declare their belongings earlier than they take workplace, each 4 years, and once they depart. The declarations are handed over to the Auditor-Basic in sealed envelopes, which stay closed until there’s an official investigation.

    Act 550 provides one other wrinkle: it offers officers six months to conform—a grace interval critics say is loads of time to shuffle round any questionable wealth.

    The system is meant to assist the state monitor public officers’ wealth and detect any suspicious spikes. In follow, it depends on a relatively optimistic assumption: that those that have one thing to cover will admit it. With the declarations saved secret, there’s little room for public scrutiny—or awkward questions.

    The Envelope, Please

    The most important flaw? Nobody checks if the declarations are true. The Auditor-Basic can not confirm the data, which means there are not any audits, no cross-checks, no questions. If an official “forgets” to say a luxurious mansion or a secret offshore account, nobody will know.

    Critics argue that maintaining these declarations secret undermines the entire level. Many are pushing for public disclosure, as carried out in the US and Canada, the place anybody can view officers’ declared belongings on-line. Supporters say this may make it tougher for public servants to quietly enrich themselves. Opponents fear it may expose officers to harassment or political concentrating on—however many agree {that a} secret system isn’t a lot of a safeguard.

    Different proposed fixes embrace extra frequent declarations and passing a Public Officers Invoice to implement stricter controls on wealth accumulation. The constitutional evaluate committee arrange by former president Akufo-Addo has additionally really useful giving the Auditor-Basic energy to confirm declarations and problem official certificates confirming their accuracy.

    A Probability for Actual Change

    With President Mahama in his ultimate time period—and one of many few leaders keen to push for constitutional adjustments—the second is true for reform. Strengthening the asset declaration system wouldn’t solely increase his legacy but additionally restore some public belief in authorities.

    The problem is discovering the fitting stability between transparency and privateness. Public disclosure may expose officers to private dangers, however maintaining the present system solely protects those that have one thing to cover.

    If Ghana is critical about combating corruption, it can not depend on sealed envelopes and blind religion. Stronger guidelines and open declarations would ship a transparent message: public service isn’t a path to non-public riches. In spite of everything, trustworthy officers ought to don’t have anything to fret about—until, after all, they do.

    DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially signify the views or coverage of Multimedia Group Restricted.



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