Kojo Oppong Nkrumah, is Ranking Member on the Economic Committee of Parliament
Member of Parliament for the Ofoase-Ayirebi Kojo Oppong Nkrumah, has criticised the manner in which the recent 2025 financial accounts by the Bank of Ghana (BoG) was communicated to the public, cautioning against what he termed as the politicisation of the bank’s affairs.
Addressing the issue at a Minority presser shared on social media on May 3, 2026, the former Minister of Information, asserted that BoG bypassed proper procedures by presenting their financial reports through the National Democratic Congress (NDC).
Oppong Nkrumah contended that the official financial statements from the Bank of Ghana (BoG), which revealed a whopping GH¢15.6 billion loss, were expected to be first submitted to the finance minister, who would then formally present it with an attached letter to Parliament before any public announcement is made.
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“It has never happened before since the independence of Ghana, because there are laws governing how Bank of Ghana accounts are published. When the accounts are ready, it must be sent to the finance minister, who will attach a letter to it before sending it to Parliament. But in this case, it was different; the accounts were rather given to the NDC party to announce it,” he stated.
He further urged politicians to allow the BoG’s professionals to carry out their duties independently, without political interference.
He warned that bypassing this process would mean politicising the operations of BoG, and it could possibly lead to the central bank’s collapse.
“That is why we are warning the governor and the president that the involvement of politics in the dealings of BoG could collapse the bank,” he warned.
Background
On Friday, May 1, 2026, the Bank of Ghana (BoG) reported a wider operating loss for the 2025 financial year.
The Central Bank posted a loss of GH¢15.6 billion, compared to GH¢9.48 billion recorded in 2024.
This continues a run of losses over the past four years, after the bank recorded GH¢60.9 billion in 2022 and GH¢10.5 billion in 2023.
Details contained in its 2025 Annual Report and Financial Statements for the year ended December 31 show that the outcome is largely linked to the cost of its tight monetary policy stance.
Even so, the bank’s total operating income climbed to GH¢22.23 billion, supported by stronger reserve management returns, increased fee income, and proceeds from bullion gold sales.
However, the rise in income was not enough to offset mounting costs.
Expenditure on Open Market Operations (OMOs) jumped to GH 16.73 billion in 2025, up sharply from GH¢8.59 billion the previous year, as the Bank intensified liquidity management measures.
Much of this amount went into interest payments to commercial banks that invested in OMO instruments.
The Bank also absorbed significant market-related losses, including GH¢9.05 billion from gold transactions and GH¢5.47 billion from foreign exchange revaluation and exchange rate movements.
Despite the pressures, the BoG still recorded a positive policy solvency margin of GH¢5.5 billion, suggesting that its core operations remain capable of supporting its liquidity management activities.
@ghanaian_times The NDC government should stop using politics at the Bank of Ghana and let the professionals do their work- Kojo Oppong Nkrumah #news #politics #nppghana #fyppppppppppppppppppppppp #ghananews ♬ original sound – Ghanaian Times
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