Accra, Ghana – The Majority caucus in Ghana’s Parliament has vehemently rejected the Minority’s assertion that the Bank of Ghana (BoG) understated its 2025 financial loss, insisting the central bank’s audited accounts are accurate and transparently disclosed. The dispute ignited following the Minority’s claim that the BoG’s reported loss of GH¢15.6 billion significantly underestimates the actual financial shortfall, proposing higher figures based on different accounting interpretations.
Context of the Dispute
The core of the disagreement lies in how the Bank of Ghana’s financial performance for 2025 is calculated and presented. The Minority group has challenged the official audited loss, arguing that by including ‘other comprehensive income’ and adjusting for gold sales, the true loss is substantially higher than the GH¢15.6 billion reported.
Specifically, the Minority suggested that adding other comprehensive income of GH¢19.3 billion to the reported loss would bring the figure to GH¢34.9 billion. Furthermore, they alleged that reversing gains from gold transactions could push the loss close to GH¢44 billion, suggesting these methods were used to obscure the bank’s financial health.
Majority’s Defense of Financial Statements
The Majority caucus defended the Bank of Ghana’s audited financial statements, emphasizing that they were prepared in accordance with established accounting standards. They stated that the reported loss of GH¢15.63 billion is derived from total operating income of GH¢22.28 billion against total operating expenses of GH¢37.91 billion.
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