Finance Minister Dr. Cassiel Ato Forson has disclosed that it has been discovered that there was an abuse of Ghana’s import declaration system, leading to billions of dollars being illicitly transferred abroad under the guise of legitimate trade.
He described this as an organized crime with authorities currently working around the clock to retrieve these monies and punish those involved.
Presenting the 2026 Budget Statement to Parliament on Thursday, November 13, 2025, Dr. Forson said investigations conducted by the Ministry uncovered misuse of import declaration forms, a tool originally designed to facilitate lawful trade.
He stated that between April 2020 and August 2025, over 525,000 transactions, amounting to an equivalent of $83 billion, were processed through the import declaration platform. However, only 10,440 of those transactions were linked to actual imports, accounting for about $52 billion.
In monetary terms, approximately $31 billion was transferred outside Ghana, with no corresponding goods entering the country.
He referred to this as a “massive leakage” that has drained the nation’s foreign reserves, weakened the cedi, and deprived the economy of vital resources needed for development.
“These leaks breach our reserves, weaken the Ghanaian cedi, and deprive the economy of resources used to build schools and other infrastructure,” he stated.
“An inter-agency committee will now audit all imported related transfers going forward,” he added.
By: Rainbowradioonline.com/Ghana
