A lawmaker from the New Patriotic Party (NPP), Gideon Boako, has strongly criticised the Bank of Ghana (BoG) over its 2025 financial results.
He said the bank’s huge losses are not just part of normal economic management, but the result of poor policy decisions that could have been avoided.
According to the Bank of Ghana’s report, it recorded a loss of about 15.63 billion cedis in 2025, while its negative equity grew to 93.82 billion cedis.
Mr. Boako said when other losses are added, the total impact could go beyond 34 billion cedis.
He questioned why the losses increased so much, especially in a year that was not considered a crisis period. He pointed out that in 2024, the bank’s financial situation had started improving, so the sudden setback is worrying.
Mr. Boako believes some of the bank’s decisions caused the losses. He mentioned things like heavy spending on open market operations, which are used to control money in the economy, but can be expensive.
He also raised concerns about how the bank handled foreign exchange and gold-related activities, including its gold purchase programme, saying these may have added to the losses.
Another issue he highlighted is that while the central bank was making losses, commercial banks were making profits. He said high interest payments by the central bank may have benefited these banks.
He also questioned the role of the International Monetary Fund (IMF), asking whether enough oversight is being provided under Ghana’s current programme.
On its part, the Bank of Ghana has explained that the losses are due to steps taken to stabilise the economy, including managing inflation, exchange rate changes, and the impact of Ghana’s debt restructuring.
Mr. Boako is, however, calling for more accountability and a better decision making based on data. He warned that if these issues are not addressed, it could affect trust and confidence in the country’s financial system.
