President John Dramani Mahama has instructed Attorney General and Minister of Justice, Dr. Dominic Ayine, to begin immediate investigations into allegations of corruption and financial malfeasance uncovered by the Operation Recover All Loot (ORAL) committee.
“I have promptly handed over the report to the Attorney General and Minister of Justice, and I give him firm instructions to commence immediate investigations into the cases reported here,” President Mahama stated after he received the report on Monday, February 10.
He further charged the Attorney General to prosecute persons found guilty of corruption or related offenses, emphasizing zero tolerance for financial misconduct.
President Mahama reaffirmed his administration’s commitment to fighting corruption, adding “To those who stand for integrity, accountability, and the rule of law, I assure you that this government remains your steadfast partner in building a nation where honesty and hard work are rewarded.
President Mahama described the Operation Recover All Loots (ORAL) initiative as a bold step in combating corruption, stressing that the diversion of public funds not only undermines national development but also erodes public trust and deepens inequality.
“It is with great solemnity and a deep sense of duty that I receive this comprehensive report of Operation Recover All Loots, an initiative that represents our unwavering commitment to the fight against corruption, financial malfeasance, and the misappropriation of public resources,” he declared.
Meanwhile, Samuel Okudzeto Ablakwa, Minister of Foreign Affairs and former Chairman of the Operation Recover All Loot (ORAL) Committee, has disclosed that Ghana stands to recover an estimated $21.19 billion if ongoing investigations into 36 high-profile cases of financial malfeasance and state land capture are successfully pursued.
Speaking during the official presentation of the ORAL Committee’s report to President John Dramani Mahama, the North Tongu MP outlined the potential financial recoveries, which he said could significantly reduce the country’s reliance on International Monetary Fund (IMF) support and its associated conditionalities.
“The 36 cases that we have reviewed in detail if we are successful in recoveries we can retrieve as much as US$20.49 billion. This is from the national cathedral, PDS, SML, GNPC Saltpond decommissioning among others,” he stated.
In addition to the financial recoveries from these cases, the committee also estimated that Ghana could retrieve approximately US$702.8 million from the restitution of looted state lands.
According to Ablakwa, this amount represents the conservative market value of lands illegally acquired by individuals and entities.
“Then we have also done an estimate of the state capture of the lands. if we successfully ask people to pay conservative market values for the lands they have looted, the experts say we can recover about US$702.8 million for the Ghanaian people.
“So, in all by honouring the 36 high profile cases that we put together and the land loot, potentially, we can raise US$21.19 billion, which is far more than what we have been chasing the IMF for and subjecting ourselves to all kinds of conditionalities,” he added.
