Over GH167. 8m, $14.6m, £ 2.4m in dormant accounts with Bank of Ghana – ILAPI report

A report by the Institute for Liberty and Policy Innovation (ILAPI) reveals that the Bank of Ghana (BoG) holds significant funds in dormant accounts, totaling over GH₵167.8 million, US$14.6 million, £2.4 million, and €2.3 million from 2016 to 2023.

The report highlights that many of these funds may belong to deceased individuals, leaving families unaware of potential inheritances that could alleviate their financial struggles.

ILAPI calls for the BoG to implement measures to identify and contact the beneficiaries of these accounts, suggesting legal amendments to facilitate access to the funds and improve financial literacy among the public.

The organization emphasizes the urgent need for reforms to address poverty exacerbated by unclaimed funds.