Persons responsible for BoG’s GH¢60.8bn loss must be surcharged – Franklin Cudjoe

By CitiNewsRoom
General News Persons responsible for BoGs GH60.8bn loss must be surcharged – Franklin Cudjoe
AUG 12, 2023 LISTEN

President of Imani Africa, Franklin Cudjoe is calling for the people responsible for the Bank of Ghana’s 2022 GH¢60.8 billion losses to be surcharged in attempts to recoup the money.

Mr. Cudjoe castigated the Central Bank for being irresponsible and shirking its mandate which he said accounted for the losses.

“If you are suggesting to us that because you supported the government and so the loss should be taken, then you are simply saying that your fundamental duty as an independent arbiter in disputes among government institutions should be thrown to the dogs.”

He told Selorm Adonoo on The Big Issue on Citi TV that it is standard practice to surcharge individuals responsible for financial infractions in an audit and so it will be prudent for the conversation about the resignation of the Central Bank’s governor and his deputies to also gravitate toward surcharging them and any other person responsible for the losses.

“The auditors were quite clear about the mandate of the Bank and as to why all these infractions are coming out tells me one thing, that the right procedures were not adopted by the central bank and if that is the case, why are we running around to get a solution? What I know is that if you are audited as an independent organization and certain infractions are found, you are surcharged, so my point is, are we not supposed to be looking at that direction as well?”

“This should go beyond calls that people should resign, I think we must also find out if some surcharging will be done because this is substantial money.”