Former Finance Minister Dr Mohammed Amin Adam has raised concerns over alleged misreporting by the Bank of Ghana (BoG) regarding a supposed GH¢3.8 billion loss under the Gold for Reserves programme in 2024.
Speaking on his Facebook page, Dr Amin Adam described Governor of the Bank of Ghana Dr Johnson Asiama’s inability to provide supporting documentation during a Public Accounts Committee (PAC) hearing as “mind-boggling.”
He said the alleged losses were not included in BoG’s published 2024 financial statements.
“The fact that such losses, if they really occurred, were not reported in the 2024 published financial statement of BoG but the Governor went ahead to peddle such claims is really bizarre,” Dr Amin Adam stated.
He further questioned why the Bank of Ghana reportedly did not include these losses in data provided to the International Monetary Fund (IMF) under the Extended Credit Facility review, noting that only the $214 million loss in 2025 was highlighted.
“BoG has more questions than answers,” he added.
Dr Amin Adam concluded by asserting that the Governor of BoG is “a partisan politician, not an independent Central Bank Governor,” emphasising the need for transparency and accountability in managing the central bank’s operations.