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Ghanaians deserve at least two-thirds refund – Franklin Cudjoe on BoG’s losses
Founding President of IMANI-Africa Franklin Cudjoe says the Governor of the Bank of Ghana and his two deputies should not only be asked to resign but also forced to refund part of the monies lost as a result of mismanagement.
He believes this will be a good precedent for future officials of the Central Bank.
On Tuesday, August 8, Minority Leader Dr Cassiel Ato Baah Forson, who is a former Deputy Finance Minister, gave the Governor, Dr Ernest Yedu Addison, and the two Deputy Governors – Maxwell Opoku-Afari and Elsie Addo Awadzi – a 21-day ultimatum to resign.
He said failure to resign within the period will see members of the Minority Caucus marching to the head office of the Central Bank each day, dubbed Occupy Bank of Ghana, to demand his resignation.
Speaking on 3FM‘s Hot Edition on Tuesday, Mr Cudjoe additionally called for refunds from the complicit officials.
“We can meet them half-way,” he suggested, indicating that they cannot be asked to just leave office when such a “a lot of money” has been lost.
He said at least the officials should be made to reimburse two-thirds of the GH¢60.8 billion lost last year as captured in the 2022 Annual Report and Financial Statement of the Bank of Ghana.
“We should just go beyond these constitutional dress rehearsals, asking for information,” he indicated, stressing that GH¢60.8 billion is too huge to be made to go down the drains.
He noted how hell would have broken loose were such infractions recorded under John Dramani Mahama.
“Admittedly, it has become political now. If it had come under a John Mahama administration, hell would have broken loose.”
Also on the programme was the Dean of the Business School of the University of Cape Coast (UCC), Professor John Gatsi.
He backed the calls for sanctions but deferred to Parliament to initiate this.
“Even though there is no clear punishment prescribed in the Bank of Ghana Act, when it is discussed in Parliament, then Parliament will now [come out with the right sanctions].”
For him, it is wrong on the part of government to write off the debt of the Central Bank as that should have been at the instance of Parliament.
Source: 3news.com
Ghana Tourism Authority is leading Ghana’s participation at ITB Berlin, which opened in Berlin with a vibrant national pavilion highlighting Ghana’s rich cultural heritage, tourism destinations and investment opportunities.
March 5 has been designated as Ghana Day, a special platform to promote Ghana’s languages, cuisine, Kente, festivals and business prospects to the global tourism community. The stand has already drawn strong interest with traditional arts and crafts displays, immersive multimedia presentations and popular Ghanaian snacks.
Seven private-sector players are exhibiting alongside government officials as part of efforts to deepen trade partnerships, expand market access, and attract investment across the hospitality, heritage tourism, ecotourism, and creative arts sectors.
Ahead of the official opening, the Ghana delegation also engaged young Ghanaian investors in Germany in collaboration with V Afrika-Verein and the Ghana Embassy, strengthening diaspora investment linkages and highlighting opportunities within the tourism value chain.
Ghana’s coordinated presence at ITB Berlin 2026 reinforces its strategy to position the country as the Gateway to Africa and a competitive destination for leisure travel and global investment.
The Member of Parliament for Nsawam Adoagyiri, Frank Annoh Dompreh, has expressed concern over delays in the release of the District Assemblies Common Fund, warning that the situation is stalling development across the country.
On his facebook page, he described as a matter of urgent national importance, the Minority Chief Whip pointed to what he sees as a growing crisis of unpaid contractors, abandoned projects, and halted infrastructure works in many districts.
He noted that several communities are grappling with half completed schools, unfinished health facilities, abandoned markets, deteriorating roads, and stalled sanitation projects.
According to him, many contractors who have executed projects for district assemblies have not been paid, forcing some construction firms to demobilise from sites while workers lose their jobs.
He stressed that the District Assemblies Common Fund is not a discretionary allocation but a constitutional requirement under Article 252 of the 1992 Constitution, intended to support development at the local level.
In his view, years of delayed releases and accumulated arrears have weakened district development financing and disrupted projects meant to improve living conditions in communities.
He further argued that some payments made in recent years were largely the settlement of old debts rather than funding for new or ongoing projects, a situation he believes has affected contractor confidence and local economic activity.
He described the issue as more than a budgetary challenge, characterising it as a development emergency and a governance concern.
He therefore urged the appropriate authorities to pay outstanding DACF arrears, settle contractors who have completed their work, and ensure that transfers to districts are automatic and predictable.
He maintained that decentralisation can only succeed when district assemblies receive adequate and timely funding to carry out development projects.
He emphasised that stalled projects directly affect ordinary citizens, since they rely on such infrastructure for education, healthcare, transportation, sanitation, and economic activities.
He called for renewed attention to grassroots development, insisting that national progress should not be concentrated only in major cities but extended to all communities.
By: Jacob Aggrey
