I have stayed two times in the Mighty Victory Hotel, in 2008 and in 2012.
As many other reviews have indicated, it is very basic and the rooms would need some maintenance/modernization. The room that I slept in this time (103) was not so nice, it somehow had an odd smell. In addition, daily cleaning was obviously not done. When I returned in the evening, the room was in the same state as I left it.
On the other hand, the Mighty Victory has some advantages: the location, the price, and the familiar atmosphere. You get easily into contact with other guests and the staff is friendly. I also enjoyed the food (but I think it was better in 2008).
By Ghanaian standards, this is not a bad choice.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.