Author: Krobea

Dr Gideon Boako, the Member of Parliament for Tano North, has alleged that the Bank of Ghana’s liquidity management operations in 2025 effectively transferred public resources to commercial banks. In a statement reacting to the Bank’s 2025 financial statements, Dr Boako argued that the central bank’s handling of Open Market Operations (OMO) contributed significantly to its heavy losses while commercial banks recorded strong profits. “BoG booked the losses, commercial banks booked the profits,” he stated. According to him, the Bank’s OMO costs rose sharply from GH¢8.2 billion in 2024 to GH¢16.73 billion in 2025 after it abandoned the dynamic Cash…

The Member of Parliament for Tano North and Member of Parliament’s Finance Committee, Dr. Gideon Boako, has slammed the Bank of Ghana for its huge 2025 operational loss. In its 2025 Financial Statement released today (May 1, 2026), the Central Bank posted a huge loss of GHS 15.6 billion, the second biggest by the central Bank since 2008. Reacting to the huge operational loss, Dr. Boako, who had predicted the BoG’s loss a few months ago, described the loss as “a new low” and attributed it to “policy failure.” “The 2025 Bank of Ghana financials mark a new low, one…

The Bank of Ghana’s 2025 operational loss was driven by politically motivated policy choices, rather than stability, Member of Parliament for Tano North and Member of Parliament’s Finance Committee, Dr. Gideon Boako has said. Dr Boako, who has extensively discussed the financial situation of the Central Bank for months, predicted the huge loss, which the Central Bank confirmed in its Financial Statement released today, May 1, 2026. The Bank of Ghana registered a huge operational loss of GH¢15.6 billion, which is the second highest loss by the Bank since the Cedi was redenominated in 2008. Dr. Boako has expressed shock…

Former Finance Minister Dr. Mohammed Amin Adam has claimed that the financial position of the Bank of Ghana in 2025 was significantly weaker than officially reported, arguing that proceeds from gold sales were used to cushion the impact of heavy operational losses. In a detailed Facebook post on Friday, May 1, the Karaga MP argued that the central bank’s reported GH¢15.6 billion net loss did not fully reflect its underlying financial challenges because gains from the sale of gold reserves were recognised as income. Dr Amin Adam stated that the Bank reportedly sold about 18 tonnes of gold reserves, generating…

Former Finance Minister and Karaga MP Dr Mohammed Amin Adam has raised fresh concerns about the financial reporting practices of the Bank of Ghana, arguing that the institution’s 2025 losses were significantly understated in public discourse due to the accounting treatment of gold sales. In a Facebook post on Friday, May 1, Dr Amin Adam said the central bank’s reported GH¢15.6 billion net loss does not reflect the full extent of underlying fiscal strain, insisting that the inclusion of gold-related gains materially altered the final outcome. He explained that the Bank reportedly sold about 18 tonnes of gold reserves, generating…

Former Finance Minister and Member of Parliament for Karaga Dr Mohammed Amin Adam has alleged that the Bank of Ghana used proceeds from gold sales to mask the true extent of its financial losses in 2025. In a Facebook post on Friday, May 1, Dr Amin Adam claimed the central bank’s reported net loss of GH¢15.6 billion would have been significantly higher if gains from gold sales had not been recognised in its profit and loss account. According to him, the Bank reportedly sold about 18 tonnes of Ghana’s gold reserves accumulated under the previous New Patriotic Party administration, generating…

President John Dramani Mahama on Thursday, April 30 paid a surprise visit to the GRIDCo Transmission Station in Akosombo after it was hit by a fire disaster recently. In the company of some engineers and government officials, President Mahama was at the facility to ascertain the extent of damage of last Thursday’s fire and work being done by engineers on the ground. He expressed gratitude to the workers for their sacrifice in so far getting at least four turbines back in operation. “You have four of the turbines back on,” he says, “and [the Energy Minister] says that you’re working…

The Member of Parliament for Gushegu, Alhassan Tampuli, has donated motorbikes and mathematical sets to the Municipal Directorates of the Ghana Education Service (GES) and Ghana Health Service (GHS) in the constituency to enhance their operations. The MP, who also serves as the Deputy Ranking Member on Parliament’s Constitutional, Legal and Parliamentary Affairs Committee, presented five motorbikes each to the two institutions at a ceremony held at the Gushegu Community Center on Thursday, April 30. According to him, the gesture was motivated by the need to appreciate the dedication and sacrifices of teachers and health professionals working across the constituency.…

Minority Leader Alexander Afenyo-Markin has descended heavily on the Mahama-led administration, accusing it of weaponising state institutions against the opposition New Patriotic Party (NPP). It cited the circumstances under which former Managing Director of GIHOC Distilleries Maxwell Kofi Jumah was arrested as an example of the vindictive action of the government. “The pattern of conduct is unmistakable and deliberate: a raid to intimidate; a seizure of personal property to destabilise; and a formal arrest to send a chilling message across the entire NPP,” the Effutu Member of Parliament (MP) said in a statement on Wednesday, April 29. “The goal of…

The Minority has condemned in the strongest and most unequivocal terms the arrest of former Managing Director of GIHOC Distilleries Maxwell Kofi Jumah. “We hold the view that this arrest is politically directed and forms part of a concerted effort to weaponise State institutions against political opponents,” the Minority said in a statement issued by Leader Alexander Afenyo-Markin on Wednesday, April 29. Mr Kofi Jumah was arrested same day over investigations into his administration as MD for GIHOC Distilleries. The Minority insisted that the action by the Economic and Organised Crime Office (EOCO) has not come in a vacuum. The…