Ghana loses an estimated GH¢13.8 billion (US$3 billion) annually to corruption, a staggering figure equal to the total value of the country's recent IMF bailout request, an Associated Professor of Law of Taxation, University of Ghana Law School, Prof.
Abdallah Ali-Nakyea, has stated.He therefore called for urgent amendments to the current anti-corruption laws to curb impunity and protect national development.Speaking at a high-level multi-stakeholder forum in Accra, organised by the Media Foundation for West Africa (MFWA), Prof.
Ali-Nakyea decried the inefficiencies in Ghana's legal and institutional anti-corruption architecture.The forum, themed "Hidden riches, hollow laws: Dissecting the loopholes that fuel corruption in Ghana", brought together anti-corruption advocates, legal professionals, policymakers, and civil society leaders."Corruption is more than a legal matter, it is a developmental crisis.
It distorts markets, deepens inequality, undermines democracy, and fuels organised crime," Prof.
