Business News of Friday, 19 December 2025
Source: www.ghanaweb.com
Economic and Organised Crime Office (EOCO) has exceeded its 2025 recovery target by an unprecedented margin, recording the highest recoveries in the agency’s history, according to Attorney-General and Minister for Justice, Dominic Akuritinga Ayine.
Speaking at the Government Accountability Series on December 18, 2025, Dr Ayine disclosed that although EOCO set a GH¢200 million recovery target for the year, it has so far retrieved GH¢337.4 million, beating the target by GH¢133.4 million.
“The economic and organised crime unit has not only met its target but has gone beyond our expectations. This is a remarkable achievement and a testament to the dedication of the agency’s staff and the strength of our institutions,” Dr Ayine said.
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He explained that the total figure includes direct and indirect recoveries. According to him, direct recoveries, which are paid into EOCO’s exhibit account, currently amount to about GH¢194 million. Indirect recoveries, paid straight to state bodies such as the Ghana Revenue Authority or the Consolidated Fund, stand at GH¢142.4 million.
Dr Ayine stressed that these sums relate to concluded cases and highlighted the critical role of leadership in driving institutional success.
“This achievement shows that while institutions matter, strong leadership is essential for them to function effectively,” he noted.
The Attorney-General also disclosed that Ghana has recovered more than $15 million from an international organised online crime syndicate that defrauded citizens through cryptocurrency schemes. Speaking at the same event, he praised EOCO and other investigative bodies for safeguarding Ghana’s financial interests.
He explained that EOCO relied on domestic laws to freeze and retrieve virtual assets concealed abroad. As a result, on November 19, 2025, Zodia Custody converted the seized crypto assets and transferred $15,191,730.13 into EOCO’s exhibit account.
Dr Ayine said the criminal network deliberately targeted Ghanaians and laundered the stolen funds using digital currencies such as Bitcoin and USDT.
He described the recovery as a major win for law enforcement, noting that millions of dollars siphoned out of the country had been successfully brought back.
He added that affected victims will be identified and compensated, stressing that the recovery underscores the government’s determination to tackle transnational cybercrime, strengthen oversight in the financial and digital sectors, and uphold the rule of law.
AK/AM