Former Chairperson of the Electoral Commission and a member of the Constitutional Review Committee, Charlotte Osei, has stressed the need for a more stringent asset declaration regime as a critical tool in Ghana's fight against corruption.

Her concern follows the release of a report by the Ghana Center for Democratic Development (CDD-Ghana), which revealed that winning presidential and parliamentary elections in Ghana now requires an estimated $150 million and an additional GHS 10 million respectively.

The report warned that the growing monetization of the country’s electoral process is deepening corruption and weakening accountability in public office.

Addressing participants at a recent event, Madam Osei emphasized the role of asset declarations in curbing corruption and promoting good governance.

“For some reason, when you even look at the Constitution, even general managers of state-owned entities or entities where the state has interests are supposed to be subject to this asset declaration regime, I don't know if we've applied it to that level,” she noted.

She argued that reforms are essential for building public confidence in governance systems.

"I'm also wondering that, if we had a system where, on assumption of office, you declare it is very verified, such a stringent regime, will actually help," she added.

The CDD-Ghana report has sparked widespread discussions on electoral reforms, accountability mechanisms, and the urgent need for measures to reduce the cost of political participation in Ghana.