Finance Minister Dr. Cassiel Ato Forson has revealed that more than $31 billion was transferred abroad under false import declaration forms between 2020 and 2025.
Presenting the 2026 Budget Statement in Parliament on Thursday, November 13, Dr. Forson described the scheme as “an organized system for exploitation — in fact, an organized crime.”
“Between April 2020 and August 2025, over 525,000 transactions amounting to $83 billion were processed through import declaration forms. Surprisingly, only 10,440 of these transactions were linked to actual imports. About $31 billion in transfers had no goods imported into the country,” he said.
Dr. Forson directed the Auditor-General to conduct a full audit of the transactions and the Bank of Ghana to trace all related foreign transfers.
“I am therefore directing the Auditor-General to audit these transactions immediately, and the Bank of Ghana to trace all related foreign transfers,” he said, stressing the need for accountability.
The Finance Minister added that findings had been shared with the Attorney-General’s Department and law enforcement agencies to ensure appropriate action against those involved.
“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 emphasized.
