The Chief Executive Officer (CEO) of Dalex Finance, Joe Jackson, has lauded President John Mahama’s Operation Recover All Loot (ORAL) as a game-changing initiative that could enhance investor confidence and stabilize the economy.
According to Jackson, ORAL’s focus on recovering stolen and hidden state funds will address corruption’s corrosive effect on the economic environment, making the country more attractive to both local and foreign investors.
“Investors are deterred by corruption because it distorts the economic environment,” Jackson noted, emphasizing the urgent need to retrieve misappropriated funds.
Jackson stressed that the initiative, if implemented effectively, would not only strengthen the country’s economic position but also serve as a deterrent to future acts of corruption.
He added that it would be challenging to determine the exact impact of the recovered funds on the economy, as the total amount of stolen and hidden monies remains unknown.
Jackson further advised that the government should not be overly focused on jailing corrupt officials in the initial stages. “The priority should be to recover all stolen monies first. Once the funds are retrieved, then the government can consider punitive actions,” he said.
He expressed optimism that ORAL’s focus on restitution would have a more direct and measurable impact on the country’s progression route.
President Mahama recently announced ORAL as part of his broader anti-corruption agenda, setting up a team of distinguished professionals to spearhead the initiative.
Chaired by Samuel Okudzeto Ablakwa, the team includes former Auditor-General Daniel Domelevo, retired Commissioner of Police Nathaniel Kofi Boakye, private legal practitioner Martin Kpebu, and investigative journalist Raymond Archer.
The committee has been tasked with gathering credible information on corruption cases from the public and other sources.
In addition to gathering evidence, the committee is expected to collaborate with relevant state agencies, including the Economic and Organized Crime Office (EOCO) and the Office of the Special Prosecutor, to ensure thorough investigations are conducted. The team will also provide recommendations to the government on legal and institutional reforms to prevent future occurrences of corruption.
A spokesperson for the ORAL committee has assured the public that the initiative will operate transparently, with regular updates on progress made and funds recovered. Public engagement will be prioritized, with mechanisms to protect whistleblowers who provide valuable information.
The initiative has sparked widespread public interest, with many commending the President for his bold move to tackle corruption head-on. However, critics have cautioned against political interference and called for the committee to maintain its independence throughout its operations.
As part of its mandate, the ORAL committee plans to create a digital platform where citizens can anonymously report corruption cases, ensuring accessibility and participation from all parts of the country.
