The Member of Parliament for Bawku Central Constituency in the Upper East Region, Honorable Mahama Ayariga has written a right-to-information request demanding information relating to losses made by the Bank of Ghana in its 2023 financial statement.

The National Democratic Congress lawmaker and renowned private legal practitioner, in a letter addressed to the Governor of the Bank of Ghana, Dr Ernest Addisson also requested information regarding the alleged escalating cost of the construction of the central bank’s headquarters.

He emphasized that his request for such information is pursuant to Section 18 of the Right to Information Act, 2019 (ACT 989), underscoring the request validation in the laws of the country.

“I am the Member of Parliament for Bawku Central constituency on the ticket of the NDC. And I write on the instructions of the Minority Leader in Parliament to request for the following information”
Honorable Mahama Ayariga, MPBawku Central

Among many several requests, the Bawku Central Member of Parliament, Honorable Mahama Ayariga requested detailed particulars of the status of the write-offs made in respect of the Government’s indebtedness to the Bank of Ghana following the central bank declaration of losing over GH₵10.50 billion for the 2023 financial year.

Again, Honorable Mahama Ayariga requested the Bank of Ghana to make available the detailed reasons for the combined losses of “circa GHS70 billion” as stated in the central bank’s financial statements for the years 2022 and 2023 respectively.

Further Expenses on BOG’s Head Office Building

Furthermore, the Member of the Constitutional, Legal and Parliamentary Affairs Committee of Parliament demanded the status of the further expenses the central bank has made on the construction of its infamous head office building, which he noted its costs keep escalating.

He emphasized that the provision of such information would go a long way in helping Members of Parliament and the general public to know exactly how much the central bank is spending on the construction of its headquarters.

Additionally, Honorable Mahama Ayariga stressed the urgent need for the central bank to provide detailed particulars on the costs of the new construction alleged to be the Bank of Ghana’s Governor’s accommodation at the premises of the old central bank’s clinic.

Touching on the news of the Bank of Ghana recording a policy rate of 30% in the year 2023, the Bawku Central Member of Parliament underscored the critical need for the central bank to provide substantial reasons for such record, adding that the central bank’s recording a policy rate of 30% in 2023 is the highest record of policy rate in the last 20 years.

The opposition party’s lawmaker also requested the central bank to provide substantial reasons for the total currency issuance expense of GHS688.87 million as stated in the Bank of Ghana’s financial statement and Annual Report for the year 2023.

He concluded by urging the Governor of the Bank of Ghana, Dr Ernest Addisson to provide the above-mentioned information within 7 working days from the date of the receipt of his letter, underscoring the urgency of his request.

Honourable Mahama Ayariga also underscored the important need for the central bank to cooperate with his outfit and that of the Minority Caucus in Parliament in addressing the challenges confronting the central bank, which he noted has led it to accumulate huge losses in recent times.

In an earlier statement, the leader of the National Democratic Congress Minority Caucus in Parliament, Dr. Cassiel Ato Forson strongly criticized the Bank of Ghana for its staggering financial losses and its extravagant spending amidst such dire fiscal mismanagement.

The Ajumako Enyan Esiam Constituency Member of Parliament, in blistering critique, deeply expressed grave concern over the country’s central bank’s recorded losses in the past years, thereby calling for immediate reforms.