Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, has clarified that the Minority in Parliament has not accused the Bank of Ghana (BoG) of mismanagement following reports of significant financial losses recorded by the central bank.
According to him, the Minority’s position has been to draw attention to developments at the Bank and explain how decisions related to the management of the cedi have impacted its financial position.
The Bank of Ghana recently posted an operating loss of GH¢15.6 billion for 2025, compared with GH¢9.4 billion in 2024. This represents an increase of about GH¢6.2 billion, according to the Bank’s 2025 audited financial statements released on Friday. Negative equity also widened significantly from GH¢58.62 billion to GH¢93.82 billion.
Total assets rose to GH¢237 billion from GH¢215 billion in 2024, while total liabilities increased from GH¢276 billion to GH¢333 billion over the same period.
Speaking on Joy News’ The Pulse on Wednesday, 13 May, Mr Oppong Nkrumah said the Minority’s interventions had focused on analysis and public education rather than allegations of wrongdoing against the central bank.
He explained that the Minority had consistently raised concerns about currency management, including earlier discussions on the appreciation of the cedi, which they attributed to market interventions rather than underlying economic changes.
He further referenced subsequent developments involving international financial institutions and policy adjustments, which he said had influenced exchange rate movements and contributed to renewed depreciation after intervention measures were suspended.
Mr Oppong Nkrumah maintained that the Minority had previously cautioned that such interventions could result in financial losses for the central bank.
