BoG's GHS60bn loss: ‘Don’t create tension’ — Allottey Jacobs ‘warns’ NDC

Headlines BoG's GHS60bn loss: Dont create tension —Allottey Jacobs warns NDC

Bernard Allotey Jacobs, former NDC Chairman for the Central Region has strongly criticized the decision of the Minority in Parliament and the National Democratic Congress (NDC) to picket the Bank of Ghana (BoG) if the Governor, Dr. Ernest Addison, and his deputies do not heed their call to resign within 21 days.

Dr Ato Forson, the Minority Leader in Parliament has accused the BoG's management of financial mismanagement following the $6billion incurred by the bank.

In a statement, the NDC said, "We in the National Democratic Congress (NDC) saw the red flags and have consistently warned of the mismanagement of the financial sector by the Governor of the Central Bank and his team of incompetent deputies.

"Only last week, the Annual Report and Financial Statement of the Bank of Ghana was released. This report depicted the catastrophic decline of the Bank into a bottomless pit.

“The report revealed...Bank of Ghana recorded a staggering loss of GHS60.8 billion, which is equivalent to $6 billion. This is twice the amount we are to receive from our recent IMF bailout.

"This means the recklessness and mismanagement of the Governor of the Bank of Ghana has cost the nation twice what we are struggling and sacrificing to receive from the IMF amid major conditionalities.

"We’ll embark on popular action to occupy the Central Bank and drive out the team of inept, callous and criminal mismanagers of the finances of this country and Save the Bank of Ghana.

“The March to Ensure Accountability will begin in 21 days if the Governor of the Bank of Ghana does not do the needful and pack bags and baggage out of that sacred institution that he has so desecrated.”

In reaction to the NDC threatening a "March to Ensure Accountability," Allotey Jacobs cautioned the opposition party during a discussion on Peace FM's "Kokrokoo" morning show monitored by ModernGhana News.

He emphasized that the NDC's actions were creating tension in the country.

Drawing attention to ongoing tensions in the West African sub-region, Mr Jacobs cautioned against creating further unrest and instability.

"What I want to tell the Minority is to look at what is happening in the west coast of Africa. Don't create tension and don't think that something will happen for you to get something.

"It will not be possible but rather you will create some kind of thing that cannot be described," he added.

Gideon Afful Amoako
Gideon Afful Amoako

News ReporterPage: GideonAffulAmoako