There is an attempt to understate BoG’s 2025 loss — Oppong Nkrumah

The Ranking Member on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has alleged attempts to downplay the true scale of losses recorded by the Bank of Ghana (BoG) in 2025.

According to the central bank’s 2025 annual report, it posted a net loss of GHS15.6 billion, up from GHS9.4 billion in 2024.

However, Oppong Nkrumah argues the actual loss is far higher, arguing that the figure presented does not reflect the full financial picture.

Speaking on Joy FM’s Super Morning Show on Monday, May 4, the Ofoase Ayirebi MP said, “We’ve also noticed that there is an attempt to understate the severity of the losses… the true operating loss is about 34.9 billion Ghana cedis.”

He explained that the discrepancy stems from how certain revenues, particularly from asset sales, were treated in the accounts.

“If you adjust for that, then the true operating loss is about 44 billion… recognising one-off asset sales as though they were part of regular revenue can be very deceptive,” he added.

The lawmaker further questioned claims that the losses were a necessary cost of stabilising the economy, including managing inflation and exchange rate pressures.

He argued that historical and global evidence does not support the assertion that such high costs are typical for central bank interventions.

The former Information Minister noted that similar outcomes had been achieved in the past without incurring comparable losses.