Government spokesperson Felix Kwakye Ofosu says the Economic and Organised Crime Office (EOCO) has frozen assets worth about ¢1.5 billion linked to ongoing corruption investigations.
Speaking on PM Express on Joy News on Tuesday, the Member of Parliament for Abura Asebu-Kwamankese said the frozen assets are connected to several high-profile cases currently under investigation.
He cited the case involving Bernard Antwi-Boasiako, popularly known as Chairman Wontumi, noting that nearly ¢50 million in his accounts had been frozen.
Mr Kwakye Ofosu added that similar asset freezes have been recorded in other investigations, including the case involving former National Signals Bureau boss Kwabena Adu-Boahene, as well as matters linked to the National Service Scheme Ghana.
He explained that the frozen funds are part of ongoing investigations and cannot yet be recovered by the state until the courts rule on the cases.
“But for now, what they can do is to freeze it, and they have done it — about ¢1.5 billion,” he said.
According to him, the amount represents assets investigators have secured so far while efforts continue to trace other suspected proceeds of crime.
Mr Kwakye Ofosu also addressed concerns about earlier comments by President John Dramani Mahama regarding the recovery of funds through EOCO operations.
He clarified that the ¢600 million referenced by the President related to EOCO’s routine law enforcement work, rather than assets linked specifically to corruption investigations.
He explained that EOCO regularly handles cases involving money laundering, cybercrime, cross-border crime and other financial offences.
Mr Kwakye Ofosu emphasised that assets connected to corruption cases can only be confiscated after a court determines that the funds were illegally acquired.
He noted that freezing assets during investigations is a standard procedure used to prevent suspected proceeds of crime from being moved or concealed while cases are being prosecuted.
The process, he said, helps ensure that the state can recover funds if the courts eventually confirm that wrongdoing occurred.
