'Ethics of financial journalism key to fighting disinformation' – BoG Director of Communications

The Director of Communications of the Bank of Ghana, Mr Bernard Otabil, has underscored the critical role of ethical financial journalism in combating disinformation and misinformation, describing the phenomenon as a severe global threat.

Mr Otabil was speaking this morning, Monday 19 October 2026, when he delivered the welcome address at the opening of the three-day training workshop for the Bank of Ghana Press Corps in Accra.

Welcoming participants on behalf of the Governor, Management and Staff of the Bank, Mr Otabil said the workshop forms part of the Bank's continued commitment to build a well-informed media, noting that "monetary policy is most effective when it is understood, trusted and accurately communicated."

Outlining the programme, Mr Otabil said day one will cover the ethics of media reporting, the mandate and regulatory role of the Bank, and understanding the central bank balance sheet. He added that day two will focus on the Domestic Gold Purchase Programme, trends in the foreign exchange market, inflation dynamics, and how to interpret MPC statements and individual member submissions - which he described as a major transparency reform.

He noted that day three will examine case studies on ethical dilemmas in financial journalism.

Mr Otabil said members of the Press Corps play a critical role, as the public may not read MPC reports but relies on headlines and reports to make economic decisions. "Accuracy therefore is not just a professional virtue, it is an economic asset," he stressed.

On why the workshop is starting with ethics, Mr Otabil, who is also a former head of the Bank’s Ethics and Internal Investigations Office said: "The ethics of financial journalism matters because in finance, words move markets. A misleading headline on inflation, exchange rates, or the policy rate can create panic, fuel speculation, and hurt the very households and businesses we are trying to protect. Ethical reporting - grounded in verification, balance, context, and clarity - is our first defence against disinformation and misinformation."

He noted that misinformation and disinformation are no longer peripheral concerns, citing the World Economic Forum's Global Risks Report which now ranks them among the most severe global threats.

"From deepfakes to AI-generated market rumours, from social media amplification to coordinated disinformation campaigns targeting currencies, no central bank and no country is immune. This is a global phenomenon, driven by technology and the speed of digital platforms, and it has undermined public trust everywhere," he said.

Mr Otabil added that credibility has become journalism's most valuable asset. "When you uphold ethical standards, you do more than file a story - you anchor expectations, protect savings, safeguard economic stability, and help Ghanaians make informed choices."

He reiterated the Bank's commitment to deepening its partnership with the media through expanded training, the Regional Press Corps, Editors' Forum, dedicated communication platforms, and the Governor's Economic and Financial Story of the Year Award.

He thanked participants for their partnership over the past year and encouraged them to participate fully, ask questions and challenge the Bank.