<<Print>>

Dr. Benjamin Otchere-Ankrah, a Governance lecturer at the Central University, has slammed the Bank of Ghana following revelations by the Minority in Parliament that the bank lost over 60 billion cedis last year.

The Minority engaging with the media at their event dubbed "Moment of Truth" on Tuesday, August 9, called on the Governor of the Bank of Ghana, Dr. Ernest Addison and his deputies to resign within 21 days.

They threatened to picket the bank if the Governors refuse to heed their ultimatum.

The Minority accused the Governor of mismanaging the bank disclosing "the Bank of Ghana recorded a staggering loss of GHS60.8 billion, which is equivalent to $6 billion. This is twice the amount we are to receive from our recent IMF bailout". 

"This means the recklessness and mismanagement of the Governor of the Bank of Ghana has cost the nation twice what we are struggling and sacrificing to receive from the IMF amid major conditionalities", the Minority Leader, Cassiel Ato Forson stated.

They further said; "The bank has also recorded a negative equity of over GHS55.1 billion. What this simply means is that the Bank of Ghana is insolvent. In other words, the once prestigious Bank of Ghana, the mother of all banks in Ghana, has been bankrupted and collapsed by this NPP economic management team led by Dr Mahamudu Bawumia with the complicity of the Governor of the Central Bank."

Dr. Benjamin Otchere-Ankrah, commenting on the issue during Peace FM's morning show, admonished the authorities of the Bank of Ghana to sit up and put their things in order.

"They should put their things in order; what's going on is not proper...They should do their job well because you have a very huge task. Your regulatory and supervisory aspects are not going well", he emphasized.