Without the right political will to battle corruption, systems and institutions are put in place and tend to be façade and window dressing. Ghana, especially, in the new millennium has seen the proliferation of various institutions ostensibly to curb the phenomenon of corruption, yet its impact has only been marginal. This study adopts two models of corruption to critically assess the institutional development of Ghana since the Fourth Republican Dispensation and how these institutions have impacted the fight against corruption. The study adopts mainly secondary data and resources from the 1992 Republican Constitution, Acts of Parliaments and Legislative Instruments relevant corruption combat. An analysis of the corruption perception index of Ghana from 2000 to 2014 and other data portrays poor performance. What accounts for this phenomenon? Are there really demons who obstruct the spirit and letter of the institutions? Are the systems weak or the human elements (demons) rather stronger in adapting and outsmarting the institutions? Copyright © 2015 John Wiley & Sons, Ltd.