By Alex Ababio
The ORAL Committee’s Operation Recover All Loot program is claiming corruption recoveries in the form of $21.19 billion, which they have maintained are losses from state misappropriations and undervalued assets.
Mr Ablakwa positioned himself with witnesses during the very presentation of the committee in Accra and defended his statement regarding cases that could potentially bolster the finances of Ghana significantly.
Potential Financial Recoveries from Corruption Cases
In cases deliberate high-profile corruption, Ablakwa maintains that investigating the remaining 36 of such outstanding cases could very well lead to the recovery of $20.49 billion.
He stated, “If we are successful, the ranges suggest up to $20.49 billion could be retrieved.” In addition to wide scoped funding scandals, these include decommissioning of Saltpond, PDS, national cathedral and powering distribution services.
He further added, “State lands sold at rather alarming low values suggest revenue loss estimates in the around the range of $702.8 million07.8 million.” From the statement of Mr. Ablakwa, “Some individuals acquired prime Cantonments land for as low as cedis, conglomerates buy at 500 hundred thousand instead of controlled markers”.
Role of accountability in recovery efforts
Ablakwa’s Perspective: “This amount surpasses what we have been pursuing from the IMF, subjecting ourselves to various conditionalities,” he remarked. This was said while talking to the press when Ghana’s financial situation was discussed.
More on the ORAL Committee
On December 18, 2024, a new committee was formed under President John Dramani Mahama’s Rule known as the ORAL Committee, which is responsible for tracing and recovering state assets that were stolen, especially those that are deemed quite valuable.
The committee is headed by North Tongu constituency, Samuel Okudzeto Ablakwa, with other significant members like ex auditor general Daniel Yao Domelevo, retired Kofi Boakye, lawyer Martin Kpebu, and journalist Raymond Archer.