Home News Prof Asare Warns Sudden Asset Accumulation by Public Officials Could Signal Looting

Prof Asare Warns Sudden Asset Accumulation by Public Officials Could Signal Looting

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Professor Stephen Kwaku Asare

Professor Stephen Kwaku Asare has cautioned that while acquiring assets is not inherently linked to corruption, the sudden accumulation of wealth by public officers can serve as a warning sign of potential looting.

Asare’s comments, shared on Facebook, were made in response to discussions about asset declarations for public officials.

“As he stated, “Having assets is not equal to looting, but sudden asset acquisition in public office is a red flag for looting.” His remarks come amid heightened attention on government accountability, especially regarding the financial integrity of those in public office.

The issue of asset declarations was addressed by President John Dramani Mahama during his swearing-in ceremony for newly appointed ministers on January 22, 2025. Mahama announced that the Chief of Staff, Julius Debrah, would soon set a deadline for all appointees to submit their asset declarations to the Auditor-General. The president emphasized the importance of transparency and accountability in governance, urging his appointees to take the necessary steps to declare their assets.

In his speech, President Mahama also outlined specific expectations for his new ministers. He particularly highlighted the crucial role of the Energy Minister, John Jinapor, in stabilizing Ghana’s power supply, and stressed to Finance Minister Dr. Cassiel Ato Forson that the country looks to him to stabilize the currency, reduce inflation, and ensure that national debt remains sustainable.

The newly sworn-in ministers also include Haruna Iddrisu (Minister for Education), Dr. Dominic Ayine (Attorney-General and Minister for Justice), Kwame Agbodza (Minister for Roads and Highways), and Eric Opoku (Minister for Food and Agriculture). Meanwhile, the Appointments Committee is still reviewing the president’s remaining ministerial nominees as part of efforts to strengthen governance.

As the new administration begins its work, calls for transparency in public office and effective governance will remain central to the public’s expectations.

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