Finance Minister Dr. Cassiel Ato Forson has revealed what he described as “questionable import transactions” totaling over $33 billion between 2020 and 2025.
The Minister made the disclosure while presenting the 2026 Budget Statement in Parliament on Thursday, November 13, directing the Auditor-General and the Bank of Ghana to immediately investigate the matter.
“Between April 2020 and August 2025, over 525,000 transactions worth $83 billion were processed through import declaration forms. Surprisingly, only 10,440 of these transactions were linked to actual imports. About $33 billion in transfers had no goods imported into the country,” he stated.
Describing the situation as alarming, Dr. Forson emphasized that the irregularities were deliberate rather than administrative errors.
“This is not a clerical error. It is an organized system of exploitation, in fact, organized crime,” he said. “I am therefore directing the Auditor-General to audit these transactions immediately, and the Bank of Ghana to trace all related foreign transfers.”
He explained that the $33 billion discrepancy reflects a “sophisticated financial leakage” that has deprived Ghana of crucial foreign exchange needed to support economic growth and stabilize the cedi.
“These findings underscore the urgent need for accountability and reform. The days of untracked capital flight through fraudulent import transactions are over,” he added.
The Finance Minister also confirmed that preliminary findings had been shared with the Attorney-General’s Department and relevant law enforcement agencies to pursue appropriate actions, including potential prosecutions.
“We cannot allow billions of dollars to vanish through import channels while we seek loans to fund development. This investigation will mark the beginning of a new era of transparency,” he stated.
Dr. Forson assured Parliament that the government would strengthen oversight at the ports and within the banking system to prevent future leakages.
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