The Bank of Ghana has asked Ghanaians to disregard “extremely reckless” comments made by Dr Kwabena Otoo during his submission in an interview on Joy News TV, on saturday October 29.

According to a press release signed by the Secretary Of BoG, Ms Ashun Aba, On Tuesday November 1, the attention of the bank has been drawn to what it calls an “unfortunate” remarks by Dr Kwabena Otoo about the Central Bank of Ghana on Joy News TV’s Newsfile.

Dr. Otoo, on the programme, said there is evidence or growing suspicion that Bank of Ghana is actively collaborating with some operatives at Cowlane in Accra to illegally transfer funds offshore.

“Bank of Ghana Categotically denies the said allegations and also considers them extremely reckless. We would have expected that such strong allegations would have been supported by the requisite, and not left at pure conjecture, mere suspicion or hearsay.”
BOG

The bank further urged the general public to disregard the comments and be assured that they, as a Central Bank, are focused on their mandate of price stability, and doing all within their power to reduce the rising level of prices.

“We advise the public to desist from making any such unfounded allegations in the future and to crosscheck same with Bank of Ghana.”
BOG

The Bank stated that, it is doing this guided by its core values of accountability, professionalism and integrity, and in accordance with law.

The Bank, however, disclosed that it is working with other stakeholders including the law-enforcement agencies to discourage and penalise the activities of illegal foreign exchange operators in the country.

Dr Kwabena Otoo’s Comment

This comes after the Director of Research at Trade Union Congress(TUC), Dr. Kwabena Otoo alledged there was evidence on growing suspicion of the said activity.

Dr Otoo made these comments while speaking on October 29 edition of News life on Joy News TV.

Dr Kwabena Otoo was submiting his opinion on the current economic hardship in the country.

On the same show, Dr Otto said that the dismissal of the Finance Minister will restore confidence in Ghana’s economy.

He also added that, the government must cut down the size of his government as there are a lot of appointees who are basically doing nothing to benefit the citizens.