BoG GHS15.6bn loss: Yesterday’s whistleblowers have become today’s defenders – Oppong Nkrumah

Member of Parliament for Ofoase Ayirebi and former Information Minister, Kojo Oppong Nkrumah, has criticised the government’s handling of the Bank of Ghana’s financial performance, accusing the current administration of abandoning principles it once championed in opposition.

His comments come on the back of expectations that the Bank of Ghana will announce a loss of about GHS15.6 billion for the 2025 financial year.

Speaking on JoyFM’s Topstory, Mr. Oppong Nkrumah argued that the justification being offered by the majority that the losses are the result of measures to stabilise the economy and bring relief to Ghanaians, mirrors arguments they previously rejected when they were not in power.

According to him, the shift in posture exposes what he describes as inconsistency in governance.
“Yesterday’s whistleblowers have become today’s defenders. The cosmetics with which they’ve been managing things are beginning to wear off. And what is left now is government side that is defending the things that they complained about when they were in opposition,” he stated.

The debate over the central bank’s financial position has intensified in recent days, with the majority maintaining that the losses are a necessary cost of macroeconomic stabilisation efforts, particularly in the wake of recent economic challenges.

However, critics insist that the development raises questions about transparency, fiscal discipline, and accountability in the management of the country’s finances.

The anticipated announcement by the Bank of Ghana is expected to further fuel discussions on the broader state of the economy and the effectiveness of ongoing policy interventions.

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