James Klutse Avedzi, former chairman of the Public Accounts Committee and current Director General of the Securities and Exchange Commission, has emphasised the need for stricter measures against corrupt officials.
Speaking on the issue in an interview with Joy News on Thursday March 28, Avedzi highlighted that recovering stolen funds is essential but insufficient without punitive actions.
“The recovery of the money is good. It’s okay. We should do that,” he stated, acknowledging the importance of reclaiming misappropriated government resources.
However, he cautioned against focusing solely on recovery while neglecting the punishment of offenders.
Avedzi illustrated his point with a striking example: “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?”
He argued that such scenarios highlight the inadequacy of current measures, which fail to address the profits gained from illicit activities.
“We recover the money, but we must punish the person,” he asserted, stressing the need for accountability that deters future misconduct.
Avedzi further questioned the morality of individuals who misuse government funds, stating, “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.”
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