Ghana’s dormant accounts hold $31 million in forgotten funds
The Institute for Liberty and Policy Innovation (ILAPI) has uncovered significant sums in dormant accounts with the Bank of Ghana (BoG). Between 2016 and 2023, over GH¢167.8 million, $14.6 million, GBP 2.4 million, and EUR 2.3 million accumulated in these accounts. Additionally, 1,448,660 dormant accounts were transferred to the BoG between 2021 and July 2024. ILAPI's Next of Kin project aims to facilitate access to these funds, streamlining legal procedures and addressing complexities. Currently, securing Letter of Administration, Death Extract, and navigating probate processes can be cumbersome, leading to abandoned claims and prolonged poverty. The BoG transfers dormant accounts to...
