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Isaac Adongo replies Kojo Oppong Nkrumah over Bank of Ghana loss claims

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The Ranking Member on Parliament’s Finance Committee, Isaac Adongo, has responded to claims by the Minority in Parliament that the Bank of Ghana recorded losses of about GH¢44 million under the National Democratic Congress (NDC) administration.

Mr. Adongo’s response follows a press conference addressed by Kojo Oppong Nkrumah and members of the Minority at Parliament House on Sunday, May 3, 2026.

At the press conference, the Minority accused the Bank of Ghana, Governor Dr. Johnson Asiama and the NDC government of mismanaging the economy and worsening the financial condition of the central bank.

The Minority argued that the reported losses at the Bank of Ghana showed signs of poor economic management under the current administration and questioned the direction of the central bank under Dr. Asiama’s leadership.

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But reacting to the accusations in an interview with Edem Mensah-Tsotorme, Online Editor of ghanaiantimes.com.gh , Mr. Adongo said the New Patriotic Party (NPP) had no moral authority to criticize the current management of the central bank because the Bank of Ghana recorded far bigger losses under the previous administration.

“Under the NPP, the Bank of Ghana suffered its worst ever loss of GH¢55 billion in one year,” he said.

According to the Bolgatanga Central MP, the 2022 financial statements published in 2023 showed that the central bank recorded losses of about GH¢55 billion, while its negative net worth stood at about GH¢61 billion when the NDC government assumed office.

He further alleged that additional costs linked to the financial sector cleanup were transferred to the central government budget to conceal the actual financial state of the Bank of Ghana.

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“If we were to add all of that, we really would have been around close to GH¢90 billion in negative net worth by the time we took over office,” he stated.

Mr. Adongo also accused the previous administration of hiding the real fiscal burden of the banking sector cleanup through accounting arrangements in the national budget.

According to him, the current administration and the Bank of Ghana have instead focused on stabilizing the economy through policies aimed at increasing foreign exchange inflows and reducing pressure on the cedi.

He explained that government used gold exports through the Gold Board to generate foreign exchange for the economy.

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According to him, the initiative brought in an average of one billion dollars every month, helping stabilize the forex market and strengthen the cedi.

He said the improved forex situation reduced speculative demand for dollars and contributed to the appreciation of the local currency.

“We ended up the year with about 40.7 percent strengthening of the cedi,” he stated.

Mr. Adongo added that the stronger cedi had also helped reduce inflation and interest rates, bringing relief to businesses and consumers.

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He praised President John Dramani Mahama for appointing Dr. Asiama as Governor of the Bank of Ghana.

According to him, the President identified Dr. Asiama as the right person to manage the central bank after assessing the country’s economic challenges.

“He saw Dr. Asiama as the best and safer hand to manage the bank,” Mr. Adongo added.

By: Jacob Aggrey

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NPP suspends Greater Accra campaigns ahead of “Democracy Under Attack” demonstration

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The New Patriotic Party (NPP) has directed all aspirants campaigning in the Greater Accra Region to suspend their campaign activities on August 5 and 6 and instead mobilise supporters for the party’s planned “Democracy Under Attack” demonstration.

The directive was issued by the party’s National Steering Committee in a statement signed by the NPP General Secretary, Justin Kodua Frimpong, on Tuesday.

According to the statement, the decision forms part of efforts to ensure a strong turnout for the demonstration, which is scheduled for Thursday, August 6, 2026.

The party said the protest would begin at 5:00 a.m., with participants expected to gather at the Supreme Court in Accra.

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It further directed Regional, Constituency and Polling Station Executives in Greater Accra to work closely to mobilise members and supporters for the event.

“The National Steering Committee is calling on all aspirants currently campaigning across the Greater Accra Region to temporarily suspend their campaign activities on the 5th and 6th of August and join in mobilising support for the upcoming demonstration,” the statement noted.

The NPP appealed to party members and supporters to remain peaceful, disciplined and orderly throughout the protest.

The demonstration forms part of the party’s response to concerns it has raised over issues relating to Ghana’s democratic governance and the justice system.

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The NPP leadership expressed confidence that party members would cooperate fully to ensure a successful and peaceful event.

By: Jacob Aggrey

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Speaker Bagbin commissions expanded dialysis unit in Wa

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Speaker of Parliament Alban Sumana Kingsford Bagbin has commissioned an expanded dialysis unit at the Upper West Regional Hospital in Wa to improve access to kidney treatment for people in northern Ghana.

The project, estimated to cost about GH¢4 million, was undertaken in partnership with Sustainable Health Education and Interventions Limited (SHEILD), the Upper West Parliamentary Caucus, the Ministry of Health, the Ghana Health Service and other development partners.

The new facility was inaugurated on Tuesday, August 4, 2026, in Wa. It adds six dialysis machines, supporting equipment and staff training to strengthen renal care services at the hospital.

According to the Parliamentary Service, the expansion is expected to reduce the burden on patients with chronic kidney disease who previously travelled long distances to Accra, Kumasi and other major cities for dialysis treatment.

Commissioning the facility, Mr Bagbin described the project as an important investment in healthcare equity and social justice.

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He noted that many families in the Upper West Region struggle to access specialist kidney care because of distance and cost.

“The people of the Upper West deserve to live with dignity. We deserve access to quality healthcare,” he stated, adding that the facility would bring treatment closer to patients and their families.

He commended SHEILD and the other partners for supporting the project and called for continued collaboration to improve specialist healthcare services across the country.

Board Director of SHEILD, Dr Sylvie Anie, indicated that the organisation remained committed to addressing critical healthcare gaps through sustainable interventions.

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She explained that the expanded dialysis unit represented hope for patients who had struggled for years to obtain specialised kidney treatment.

Another Board Director of SHEILD, Dr John Nkrumah Mills, stressed that sustainable healthcare required investment in people, systems, partnerships and continuous capacity building.

He noted that the project demonstrated what could be achieved when institutions worked together to improve patient care.

Medical Director of the Upper West Regional Hospital, Dr Philip K. K. Baabiineh, stated that the expanded unit would significantly improve the hospital’s ability to provide comprehensive renal care.

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He observed that many patients previously had limited treatment options and often travelled under difficult conditions to receive dialysis.

The Minister for Health, Kwabena Mintah Akandoh, described the project as consistent with government’s efforts to expand specialist healthcare services and reduce regional disparities in access to treatment.

He encouraged stronger partnerships between government, private organisations, development partners and healthcare institutions to address the growing burden of non-communicable diseases.

The Parliamentary Service stated that chronic kidney disease was becoming a major public health challenge in Ghana, driven by increasing cases of hypertension, diabetes, obesity and late diagnosis.

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It noted that access to dialysis services remained uneven, with most treatment centres concentrated in Accra and Kumasi, while many patients in northern Ghana faced high transport costs and long waiting times.

The commissioning ceremony was attended by government officials, traditional leaders, Members of Parliament, healthcare professionals, development partners, civil society organisations and community representatives.

By: Jacob Aggrey

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