Former Deputy Finance Minister and Chairperson of Parliament’s Public Accounts Committee, Abena Osei-Asare, has accused the governing National Democratic Congress (NDC) of applying double standards in its handling of the Bank of Ghana’s financial losses, arguing that the party’s current posture sharply contradicts its stance while in opposition.
In a statement shared on Facebook on Sunday, May 3, 2026, on the Bank’s 2025 financial results, the Atiwa East MP questioned why losses that once triggered public outrage and calls for resignations are now being defended as the “cost of stability.”
She pointed to the central bank’s latest financial statements, which show a GH¢15.63 billion loss in 2025, up from GH¢9.49 billion in 2024, while negative equity worsened from GH¢58.62 billion to GH¢93.82 billion.
According to her, the NDC cannot dismiss the latest losses as a mere accounting issue after previously treating similar developments as a major governance and accountability crisis.
“In 2023, when the Bank of Ghana reported a GH¢60.8 billion loss for the 2022 financial year and negative equity of about GH¢55.1 billion, NDC leaders described the central bank as mismanaged, demanded resignations, and framed the matter as a question of public accountability,” she stated.
“Today, the same party cannot dismiss a GH¢15.63 billion annual loss and GH¢93.82 billion negative equity as ‘not a topic for discussion.’”
Mrs. Osei-Asare directly challenged what she described as the NDC’s changing accountability standards, referencing the party’s earlier “Occupy BoG” campaign and calls for the resignation of the then central bank leadership.
“Then: Resignation within 21 days. Now: The 2025 loss is defended as a cost of stability and not treated as a major accountability issue,” she said.
She further questioned whether the same standards still apply now that the party is in government.
“Does the 21-day resignation test apply only when the NDC is outside government?” she asked.
The former deputy minister argued that operational continuity at the central bank should not shield public institutions from scrutiny over financial performance.
“Operational continuity is not a defence against financial accountability,” she stressed.
She also cited the Bank’s own financial disclosures, which indicate that the government is expected to restore the central bank’s capital base through a phased recapitalisation programme from 2026 to 2032.
According to her, this means the Bank’s losses could eventually become a burden on taxpayers.
“Today’s losses become tomorrow’s taxpayer cost, debt instrument, or fiscal trade-off,” she said, insisting that the matter requires full parliamentary oversight.
In one of the sharpest lines in her statement, Mrs. Osei-Asare said: “The Majority called BoG losses criminal in opposition and call them stability costs in government.”
She added that if the Bank’s negative equity of GH¢55.1 billion in 2022 was enough to trigger nationwide protests, then the current GH¢93.82 billion position deserves no less public scrutiny.
Mrs. Osei-Asare has since called for urgent briefings by the Bank of Ghana Governor, the Finance Minister, external auditors and relevant Bank officials before Parliament’s finance-related committees.
