Political Dispute Erupts Over Bank of Ghana Allegations.
Tensions have escalated in Ghana’s political arena as Majority Leader Osei Kyei-Mensah-Bonsu strongly criticized Minority Leader Dr Cassiel Ato Forson for urging the resignation of the governor of the Bank of Ghana (BoG) and his deputies amid allegations of financial mismanagement.
The Minority in Parliament has called for the resignation of Dr Ernest Addison and his deputies, leveling serious allegations of gross financial mismanagement within the Bank of Ghana.
The Minority asserts that Dr Addison should step down due to his oversight of the GHC60 billion loss recorded by the Central Bank for the year 2022.
Among other claims, the Minority alleges that the Bank of Ghana failed to communicate its activities to Parliament. The Bank, in a statement, attributed the losses to the government’s restructuring of domestic debt and the depreciation of the cedi.
Responding to the Minority’s demand, Suame MP Osei Kyei-Mensah-Bonsu raised concerns about the credibility of the allegations and the potential for political motives behind the dispute. He stressed the importance of a balanced and informed discussion, urging that the issue should not be polarized between the NPP and NDC parties.
Kyei-Mensah-Bonsu clarified that the Bank of Ghana is not legally bound to report its daily operations to Parliament, contrary to Dr Ato Forson’s claims. He pointed out that the law only mandates the Bank to report foreign exchange receipts to Parliament, a requirement the Bank consistently fulfills. He emphasized, “We should not turn everything into an NPP and NDC matter. Ato Forson should be more aware, given his prior role as deputy minister of finance, and his familiarity with the Bank of Ghana’s operations. Politicizing Bank of Ghana matters is detrimental to the country’s interests.”
He added, “There is no law that obligates the Bank of Ghana to report its daily activities to Parliament. The law only mandates the Bank to report foreign exchange receipts to Parliament, and the Bank consistently complies with this provision. The Bank of Ghana does not report directly to Parliament.”
Kyei-Mensah-Bonsu concluded by suggesting that either the Minority is exaggerating the issues or has not fully examined the facts at hand. As the dispute continues, the nation watches the unfolding dynamics in the realm of Ghanaian politics.