James Klutse Avedzi, former chairman of the Public Accounts Committee and current Director General of the Securities and Exchange Commission (SEC), has called for stricter penalties for corrupt officials, arguing that merely recovering stolen funds is not enough.

Speaking in an interview with Joy News on Thursday, Avedzi emphasized that while retrieving misappropriated public funds is essential, accountability must go beyond simple refunds.

“The recovery of the money is good. It’s okay. We should do that,” he acknowledged, but quickly added that current financial accountability measures are insufficient.

He highlighted a major loophole in the system, pointing out that corrupt officials often profit from stolen funds before being caught.

“Someone takes $10 million of government money, 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?”

Avedzi insisted that punishment must accompany restitution, as allowing offenders to escape further consequences only encourages corruption.

“We recover the money, but we must punish the person,” he stressed, urging the government to tighten enforcement measures.

He also questioned the morality of those who exploit public funds, adding:

“Government needs money to do projects for everybody, but you want to take it as an individual. It’s wrong.”

Avedzi's remarks add to the ongoing debate on anti-corruption efforts in Ghana, calling for stronger laws and stricter enforcement to deter financial misconduct and ensure true accountability.