President John Dramani Mahama has underscored the significance of asset declaration in the fight against corruption, emphasizing that a well-regulated system can serve as a powerful mechanism for promoting accountability and transparency in governance.

"If properly curated and enforced, the asset declaration process can become a sustainable tool for tackling corruption," he said.

Speaking after publicly declaring his assets in compliance with Article 286 of the 1992 Constitution, Mahama stressed the need for openness in the process, stating, “I have just performed a simple but briefly, very important act of presenting my complete assets declaration forms to the Auditor General as required by Article 286 of the 1992 Constitution and the Public Office Holders Declaration of Assets and Disqualification Act 1998, Act 550.”

Ghana’s asset declaration law mandates public officials, including the President, Vice President, Ministers, Parliamentarians, Justices of the Superior Courts, and heads of government agencies, to disclose their assets upon assumption of office, every four years, and at the end of their tenure.

President Mahama revealed that while he had previously submitted his asset declaration forms privately, he opted for a public disclosure this time to enhance trust in the system. He expressed concern over the lack of transparency in the process, making it difficult to assess compliance among officeholders.

"In times past, I would have privately presented these forms to the Auditor General in fulfilment of my statutory obligation. I have taken this step of presenting these forms publicly as a way of injecting some openness and transparency into the process of assets declaration. I have always maintained that while it is all well and good to punish corruption, a more effective way of addressing the canker is preventing it from occurring in the first place."

Mahama further emphasized that an effectively managed asset declaration system has the potential to serve as a long-term solution for curbing corruption in Ghana’s public sector.

Meanwhile, former Auditor General Daniel Domelevo has stressed the need for all public officials to declare their assets before assuming office, calling for stronger enforcement measures to ensure compliance.

He further urged institutions such as the Commission on Human Rights and Administrative Justice (CHRAJ) to take proactive steps in monitoring and verifying asset declarations, arguing that consistent enforcement would deter corruption and build public confidence in governance.

The asset declaration requirement extends to various categories of public officers, including presidential staffers, heads of security agencies, procurement officers, financial controllers, and senior government officials. The law mandates these individuals to disclose their assets and liabilities to ensure transparency in public service.