Parliamentary Committee Chair Demands Probe into Bank of Ghana Finances After GHS 15.63 Billion Loss

Abena Osei-Asare, Chairperson of Ghana’s Public Accounts Committee (PAC), has called for an urgent parliamentary investigation into the Bank of Ghana’s finances. The central bank recorded a GHS 15.63 billion loss in 2025. This figure represents a significant increase from its GHS 9.49 billion loss in 2024.

Osei-Asare expressed concerns over deepening losses and rising fiscal risks at the central bank. She demanded immediate briefings from the Governor of the Bank of Ghana and the Minister for Finance. External auditors and relevant Bank of Ghana directors must also provide information. These officials need to explain the central bank's financial situation to the Parliamentary Finance, Economy, and Public Accounts Committees.

This demand for scrutiny comes amid heightened concerns about Ghana's macroeconomic stability. The Bank of Ghana's negative equity widened to GHS 93.82 billion in 2025 from GHS 58.62 billion the previous year. This substantial increase in negative equity highlights the structural financial distress facing the institution. Ghana has been navigating a challenging economic environment, including significant public debt and efforts to restore fiscal discipline.

Osei-Asare, through a detailed Facebook post, specifically requested disclosure of the full implications of the central bank's accounting practices. She stated the full costs arising from the Bank of Ghana's departure from International Financial Reporting Standards (IFRS) must be disclosed. These disclosures are crucial for Parliament and the public to understand the true financial health of the bank. She also demanded the publication of the full recapitalisation framework. This includes any associated fiscal commitments, bonds, cash injections, or write-offs.

The PAC Chairperson further called for an independent review of gold-related transactions. She highlighted what she termed policy contradictions regarding gold sales. Osei-Asare noted the Bank of Ghana relies increasingly on gold sales to contain financial deterioration. She argued this practice, while seemingly stabilising, liquidates assets that would otherwise contribute to deeper losses. She criticised the rationale of liquidating assets for stability while proposing large-scale gold purchase programmes to rebuild reserves. Osei-Asare stated the reported figures do not reflect underlying stability.

The Bank of Ghana's financial health is critical for overall economic stability and investor confidence in Ghana. The requested parliamentary probe seeks to address concerns about transparency and accountability within the nation's key financial institution. Understanding the full scope of the central bank's losses and its strategies for recovery is essential. These findings will inform future policy decisions and potentially impact financial markets. Decision-makers will closely monitor the outcome of these parliamentary inquiries. The government's response to the recapitalisation demands will also be keenly observed.