Parliament to draft lifestyle audit law – Bagbin

Parliament is set to begin work on new legislation aimed at enabling lifestyle audits for individuals suspected of accumulating unexplained wealth.

This was announced  by Speaker of Parliament Alban Bagbin on Monday, June 9.

According to Speaker Bagbin, the proposed law will grant legal authority to state institutions to investigate the financial standing and lifestyles of public officials, politically exposed persons, and private individuals whose standard of living appears inconsistent with their known sources of income.

It also aligns with broader calls for more robust anti-corruption measures, and is expected to introduce a new level of accountability in public service and financial transparency across the country.

Bagbin emphasized that the legislation is intended to curb the growing practice of individuals flaunting wealth suspected to be obtained through illicit means, particularly at a time when many Ghanaians face economic hardship.

He said, “I am currently receiving extensive input to initiate legislation on lifestyle audits. It’s no surprise that this issue is gaining prominence in the speeches of senior officials and civil society organisations. I’m encouraged that the Vice President and the Office of the Special Prosecutor have also begun discussing it.”

Bagbin added, “We will legislate it and put an end to individuals flaunting ill-gotten wealth in the faces of ordinary Ghanaians.”