Business News of Wednesday, 4 March 2026
Source: www.ghanaweb.com
The Minister of Government Communications, Felix Kwakye Ofosu, has dismissed claims that the Economic and Organised Crime Office (EOCO) had recovered only GH¢600 million under ORAL, following debates over President John Dramani Mahama's recent 2026 State of the Nation Address (SONA) in Parliament.
The president, during his address on February 27, 2026, in Parliament, reaffirmed his commitment to fighting corruption, noting that EOCO has so far recovered GH¢600 million and has investigated 462 cases.
Speaking at the Government Accountability Series on March 3, 2026, Kwakye Ofosu clarified that the GH¢600 million as stated by the president only relates to recoveries made by EOCO through its anti-corruption operations, and not under ORAL.
He explained that the EOCO recoveries covers a wide range of alleged offences, including procurement breaches, financial misappropriation, money laundering, tax evasion, cybercrime, and cross-border organised crime.
He further stated that under Operation Recover All Lot (ORAL), assets worth GH¢1.5 billion have been frozen as part of ongoing investigations.
ORAL loots to be recovered through courts, not extrajudicial means – Kwakye Ofosu
"Significant progress have been made in tracing and securing suspected illicit assets, large portions of the funds cannot be permanently recovered until the individuals implicated are successfully prosecuted and convicted in court," he said.
Kwakye Ofosu reiterated that the government remains committed to pursuing cases to their logical conclusions to ensure that misappropriated public funds are fully recovered in accordance with the law.
The Operation Recover All Loot (ORAL) is an anti-corruption initiative launched by the government, aimed at tracing, freezing and recovering state assets allegedly lost through corruption, financial mismanagement and illicit enrichment.
SP/AE
Auto dealers respond to 15% price cut announcement

