The Minority in Parliament says it is not celebrating the financial challenges of the Bank of Ghana, insisting its focus remains on safeguarding economic stability.
According to the Member of Parliament for Tano North and a member of Parliament’s Finance Committee, Gideon Boako, the concerns being raised are driven by national interest rather than political point-scoring.
“We are not gloating over anything, but we all want the best for the country. We understand the central bank to be that thick wall that the government or all of us have to fall on once there is trouble in the country, or there are economic mismatches,” he said.
Mr. Boako made the remarks while discussing the Central Bank’s 2025 financial results on Channel One TV’s The Point of View on Wednesday, May 6.
His comments come in the wake of the Bank of Ghana’s reported GH¢15.6 billion operating loss for the 2025 financial year, up from the GH¢9.48 billion loss recorded in 2024. The Bank has now recorded four consecutive years of losses, including GH¢60.9 billion in 2022 and GH¢10.5 billion in 2023.
Mr. Boako outlined what he described as three major concerns in the Bank’s financial statements, particularly the rising negative equity position.
“In the financials, three things were crucial, the negative equity position of the bank. Not that it is just critical but because we’ve seen an increase in the negative equity position,” he said.
“There is also what appears to have been an insolvency position with the central bank although there was a smart move in the last quarter of 2025 to kind of get the insolvency resolved but the approach was not the traditional means to get over that,” he said.
He also questioned the scale of the reported losses and the accounting procedures used in preparing the financial statements.
“Then there is also the big conversation of the loss…we have to look at the context and magnitude of the loss. Then there is this whole procedure about the accounting procedure that used to prepare this financial statement,” he said.
Mr. Boako explained that although international standards typically guide financial reporting, the Central Bank relied on its own enabling law in preparing its accounts—an approach he said has contributed to the ongoing controversy.
“Relative to what international standards say, the BoG stuck solely to their act to say that their act mandates us to use our own internal accounting methods to prepare our financials,” he added.
The Bank of Ghana’s 2025 financial statements show a deepening negative equity position of GH¢93.82 billion on a consolidated basis, driven by continued monetary policy costs, foreign exchange losses, and losses on gold transactions, among other factors.
Despite the losses, the Bank reported a positive policy solvency margin, indicating that its core income remains sufficient to cover the cost of monetary policy implementation.
