BoG was profitable under Mahama, but now making colossal loses under Bawumia – Kwakye Ofosu



The National Democratic Congress’ (NDC) Parliamentary Candidate for the Abura Asebu-Kwamankese Constituency, Felix Kwakye Ofosu has taken on the government for the losses the Bank of Ghana recorded last year.

Mr Kwakye Ofosu posited that the loss is due to the incompetent leadership of the Vice President, Dr Mahamudu Bawumia as the Chairman of the Economic Management Team.

According to the former Deputy Communications Minister, the Bank of Ghana made profit during the erstwhile John Mahama administration.

In a tweet on Wednesday, he said some of these profits were used to construct world class hospitals such the Bank of Ghana Hospital.

“Under JM,the Bank of Ghana made profit and invested in a world class hospital in Accra and a massive Guest House in Takoradi.”

“Under the hapless Bawumia, they have lost us a colossal GHS 60 billion,” he tweeted.

Already, the Minority in Parliament has called for the immediate resignation of the Governor of the Bank of Ghana (BoG), Dr Ernest Addison and his deputies.

The Minority Leader, Dr Cassiel Ato Forson made this call during the NDC’s ‘Moment of Truth’ address on Tuesday, August 8 at the party’s headquarters.

“We call for the immediate resignation of the Governor of the Central Bank and his deputies within 21 days from today,” the Minority Leader demanded.

Their demand comes after the Central Bank in its Annual Report and Financial Statements revealed that it recorded a loss of GH ¢60.8 billion in 2022.

He accused the governor of incompetence in managing the bank, adding that the bank has virtually collapsed.

He claimed that the Governor has recklessly mismanaged the Central Bank, bringing it to its knees and that he cannot continue to lead the bank without being held accountable.

“Those who have led these reckless and criminal conduct, unleashed economic hardship and financial distress on the suffering people of Ghana, must be held accountable for this particular action.

“In fact, impunity of the highest order can no longer be tolerated by the suffering masses of Ghanaians. We must not allow dangerous precedents to be set for future leaders,” he added.

According to Dr Ato Forson, if the governor and his deputies do not heed their call, the NDC is prepared to act accordingly.

“We are resolved to embark on popular action to occupy the Central Bank and drive out the team of inept, callous and criminally minded mismanagers of our finances to save the Bank of Ghana,” he said.

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