Former Member of Parliament for Kumbungu, Ras Mubarak, has called for the introduction of a law on unexplained wealth to enhance the effectiveness of asset declaration in combating corruption.

Speaking on Joy News on Tuesday, February 18, 2025, Mubarak argued that while asset declaration is a step in the right direction, it alone cannot curb corruption.

According to him, politicians and public officials often exploit loopholes in the current asset declaration system by registering properties and wealth under the names of their relatives or associates.

He noted that some individuals even engage in what he termed “declaration in anticipation of acquisition,” where they declare exaggerated assets before assuming office to justify future illicit wealth accumulation.

“We should be careful not to fantasise too much about asset declaration,” Mubarak cautioned. “It is a good process, but does it really curb corruption? If everyone complies and declares their assets, does that mean corruption is eliminated? We have seen cases where people put up properties in their children's, wives’, or even friends’ names to escape scrutiny.”

Mubarak proposed that beyond enforcing asset declaration laws, Ghana should adopt an unexplained wealth law that allows authorities and the public to question the legitimacy of wealth acquired by individuals whose earnings do not justify their assets.

“I want to see a law on unexplained wealth where the state can ask, ‘You work at Joy FM, you drive a Maybach, where did you get that from?’ If you give the public enough power, politicians will be very scared of unlawfully plundering state resources,” he asserted.

He referenced similar legislation in the United Kingdom, where public officeholders must explain the source of significant assets or risk legal consequences. Mubarak believes such a law in Ghana would deter corrupt practices and promote transparency in governance.

The former MP also stressed the need for greater public participation in demanding accountability from leaders, adding that governance should not be the exclusive domain of politicians.

He called for stronger legal frameworks that would compel public office holders, including Members of Parliament, judges, and civil servants, to justify their wealth periodically.

His comments come amid discussions on President John Mahama’s stance on asset declaration, with the president signalling a strong commitment to transparency.

President Mahama has directed all appointees in his administration to declare their assets by March 31 or risk losing their positions.

Mubarak maintained that Ghana must go beyond asset declaration reforms to address deeper systemic issues that allow wealth concealment.

“Asset declaration alone won’t do it,” he said. “We also need laws that ensure lifestyle audits, where the public can question how someone who earns a modest salary suddenly owns mansions and luxury vehicles.”