The Institute for Liberty and Policy Innovation (ILAPI) has rejected proposals for government to access dormant bank accounts to finance national development, arguing that such funds remain the private property of citizens.
In a press statement issued on Friday August 7, 2026, ILAPI expressed concern over recent remarks by the Minister for Finance suggesting that government should consider accessing dormant bank accounts as part of efforts to mobilise domestic resources.
The policy think tank said while it recognised Ghana’s need to raise resources to address developmental challenges, using dormant accounts for government financing could create serious constitutional, economic and ethical concerns.
ILAPI stressed that the fact that an account has remained inactive does not mean the money has been abandoned by its owner.
According to the organisation, individuals may leave money untouched for several legitimate reasons, including migration, illness, retirement planning, long-term savings, inheritance disputes or personal financial decisions.
It therefore argued that government’s responsibility should be to protect such assets and help reunite them with their rightful owners rather than use them to address fiscal pressures.
“Dormant accounts do not constitute abandoned assets merely because they have remained inactive for a period of time,” the organisation said.
ILAPI further warned that any policy allowing the state to take control of private savings without making extensive efforts to locate the owners could undermine constitutional protections on property rights and due process.
The organisation also drew a distinction between dormant and abandoned assets, noting that dormant accounts generally remain legally owned by identifiable individuals or their families.
It said financial institutions already have procedures for reactivating such accounts once ownership is verified, and therefore the focus should be on improving identification and reconnecting funds with their rightful owners.
Rather than treating dormant accounts as a source of government revenue, ILAPI has called for measures to make it easier for families and legitimate beneficiaries to locate and access such funds.
Among its recommendations is the creation of a national registry for dormant assets, supported by a publicly accessible online platform through which heirs can search for information about dormant funds.
The organisation also wants government to make extensive efforts to locate account holders, next of kin and other family members.
It said administrative bottlenecks preventing families from accessing dormant funds should be removed, particularly where such funds could help beneficiaries improve their economic circumstances and reduce poverty.
ILAPI has also proposed the establishment of an Independent Unclaimed Assets Trust rather than transferring dormant balances into government coffers.
Under the proposed framework, the organisation said rightful owners should retain full ownership rights, with perpetual or long-term claims preserved for beneficiaries.
It further proposed that the trust should operate independently of political control, publish regular audits and public reports, and invest idle balances conservatively while ensuring that funds remain available for legitimate claims.
ILAPI said dormant assets should be transferred into an independent custodial or trust arrangement rather than being treated as ordinary government revenue.
While acknowledging Ghana’s fiscal difficulties, ILAPI maintained that the country’s financing challenges require structural solutions rather than policies that expand government claims over private assets.
It called for reductions in wasteful public expenditure, improved spending efficiency and stronger mechanisms to recover misappropriated public funds.
The organisation argued that these measures would provide a more sustainable path to addressing Ghana’s fiscal challenges while protecting citizens’ property rights.
ILAPI has consequently urged government to abandon any proposal that treats dormant private bank accounts as a source of fiscal financing.
It said protecting citizens’ property and strengthening confidence in the financial system are essential to building a more prosperous Ghana.
CREDIT: MAVIS FANTEVI