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.
Accra Is Sinking Yet Again — Time to Be Truthful With Ourselves
Fire guts rubber factory at Circle Odawna as flooding hampers firefighting effor...
Flooding strands commuters on Winneba Cape Coast Highway
Three feared dead after electrocution in Alajo flooding incident
Nine missing after floods hit Awutu Senya East
'Your mother, I should go to heaven and ask Nebuchadnezzar to stop the rain?' — ...
Flood victim found dead along Alajo Railway track as rescue operations continue
GMet warns more rain as flooding disrupts movement across Greater Accra
'You sit on social media and talk nkwasiasem' — Nigel Gaisie blasts critics over...
Osahen Afenyo-Markin accuses NDC of using GoldBod to promote illegal mining
Comments
Do these NPP (New Patriotic Party) "financial experts" actually UNDERSTAND the role of a CENTRAL BANK in a modern economy? And more to the point, does Kojo Oppong-Nkrumah understand the WORKINGS of a modern central bank? What is this OBSESSION with a central bank making PROFIT or LOSS? The central bank of a country is NOT in competition with the commercial banks or any other business in the country; therefore, the obsession about a central bank making profits is NONSENSE! The cen...