By Lawrence Odoom/Phalonzy
The Minority in Parliament has launched a scathing rebuttal of the Bank of Ghana’s 2025 financial report, insisting that the Central Bank’s declared GH¢15.6 billion operating loss grossly understates the institution’s actual fiscal hemorrhage.
While acknowledging the BoG’s decision to publish its financial statements, the Minority accused the bank of abandoning international financial reporting standards in favor of its own accounting framework.
According to the BoG’s 2025 Annual Report and Financial Statements, the Central Bank has now posted losses for four consecutive years. This follows deficits of GH¢60.9 billion in 2022 and GH¢10.5 billion in 2023. Its current GH¢15.6 billion operating loss represents a marked escalation from the GH¢9.48 billion recorded in 2024.
Yet the Minority caucus contends that the official figure is a distortion, not a disclosure.
At a press briefing on Sunday, May 3, Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, challenged the Central Bank’s numbers head-on, asserting that the real operating loss is substantially higher.
“The government says the loss is GH¢15.6 billion. The true operating loss of the Bank is actually GH¢34.9 billion cedis,” he stated.
Oppong Nkrumah further argued that when gold sale proceeds are reincorporated into the assessment, the comprehensive loss balloons further.
“In fact, if you add back the GH¢9.6 billion proceeds from the gold sales, the recalculated loss is actually GH¢44 billion,” he added.
The Minority alleges that the BoG deployed “artificial recognition” and “clever accounting” maneuvers to shift portions of the deficit into “other comprehensive income,” thereby suppressing the reported operating loss and presenting a sanitized balance sheet to the public.