Former Public Accounts Committee (PAC) Chairman James Klutse Avedzi has criticized the practice of merely recovering stolen public funds from corrupt officials, arguing that it encourages impunity.
Avedzi, now Director General of the Securities and Exchanges Commission, stated that while recovering misappropriated money is necessary, it should not replace punishment. “But that should not mean that we are focusing only on the recovery of the money and leaving the punishment part,” he said.
He highlighted the unfair advantage corrupt individuals gain by using stolen funds for profit, questioning why they should only repay the principal amount. “Someone takes $10 million of government money and trades on that money, makes an additional $5 million, and is caught. They have to pay only the $10 million. How about the $5 million profit or interest that the person has made?”
Avedzi stressed that corruption should not be treated as a simple financial transaction. “We recover the money, but we must punish the person,” he insisted, warning that lenient consequences embolden corrupt officials.
He expressed frustration over the perception that public funds can be treated as personal assets. “In any case, why do you want to take government’s money and then later give it back? Government needs money to do projects for everybody, but you want to take it as an individual. It’s wrong.”
Avedzi’s comments add to growing calls for harsher legal action against officials implicated in the Auditor General’s reports, advocating for jail time and other stringent penalties to deter corruption.