By Eugene Nyarko Jnr. | Press Center, Accra
The newly established Centre for Legitimacy and Rule of Law (CLRL) has officially launched operations in Accra with a strong call for legal and policy reforms aimed at promoting justice, protecting citizens’ rights and unlocking nearly GH¢400 million in dormant funds held by the Bank of Ghana.
Addressing journalists at the Accra International Press Centre on Wednesday, Executive Director of the Centre, Richard Nii Armah, said the non-political civil society organisation was established to champion justice, accountability and the rule of law for the benefit of ordinary Ghanaians.
He said the organisation would partner the media and the public to highlight social injustices and advocate reforms that would deepen democratic governance and improve livelihoods.
“The Centre for Legitimacy and Rule of Law is a non-political, non-governmental civil society organisation made up of forward-thinking individuals who believe in justice and the rule of law,” he stated.
Mr. Armah noted that Ghana’s 1992 Constitution had endured for more than three decades and therefore required stronger support through reforms that would ensure citizens fully enjoyed democratic dividends under the law.
He stressed that the organisation would critically scrutinise state laws, government policies and the justice system to expose gaps and advocate improvements without political bias.
The CLRL also used the occasion to announce its flagship 2026 project dubbed “Release the Unclaimed Funds,” which seeks reforms to enable families and beneficiaries recover dormant bank and mobile money funds belonging to deceased or incapacitated relatives.
According to the Centre, data obtained through a Right to Information (RTI) request by the Institute for Liberty and Policy Innovation (ILAPI) revealed that as of October 2024, the Bank of Ghana was holding unclaimed funds amounting to GH¢167.8 million, US$14.6 million, £2.4 million and €2.3 million.
The organisation estimated the combined value at nearly GH¢400 million.
Mr. Armah explained that under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), accounts that remain inactive for two years are declared dormant, and after an additional three years of inactivity, the funds are transferred to the Bank of Ghana for safekeeping.
He identified death of account holders, prolonged illness, relocation and business disputes as some of the major causes of dormant accounts, adding that many families remain unaware of the existence of such funds.
The CLRL argued that several bereaved families continue to suffer financial hardship while monies belonging to deceased relatives remain locked in banks and mobile money wallets.
It further blamed strict banking confidentiality rules and limitations within estate administration laws for preventing families from tracing and recovering dormant accounts.
As part of its proposals, the Centre called on the Bank of Ghana to strictly enforce directives requiring banks and financial institutions to contact next of kin before declaring accounts dormant.
The organisation also proposed that banks should disclose account balances to verified next of kin once there is prima facie evidence of the account holder’s death to enable families initiate legal processes for estate administration.
Additionally, the CLRL urged the Bank of Ghana to compel financial institutions to collect more than one next of kin during account opening procedures and establish a central online platform for the publication and search of dormant accounts across banks and mobile money operators.
Mr. Armah cited the example of Massachusetts in the United States, where residents can search for unclaimed funds through a public portal.
He maintained that releasing such funds to rightful beneficiaries could reduce poverty, support small businesses and improve household welfare across the country.
The CLRL announced plans to petition the Bank of Ghana, Parliament, the Attorney General and all banks and mobile money operators to push for reforms in the management and recovery of dormant accounts.
The organisation also pledged to collaborate with existing civil society groups, including ILAPI and Widow and Son, to strengthen advocacy on inheritance rights and access to dormant funds.
