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Isaac Adongo replies Kojo Oppong Nkrumah over Bank of Ghana loss claims
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.
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.
“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.
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.
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
Muslims across the country celebrated this year’s Eid-ul-Adha in a colourful and spiritually uplifting atmosphere under the theme, “A Season of Sacrifice, Solidarity and Spiritual Renewal.”
The celebration brought together Muslims from diverse backgrounds in a remarkable display of faith, unity and cultural heritage.
The occasion was marked by special Eid prayers at various designated grounds, the slaughtering of rams in homes for sharing among family members, friends and the less privileged, as well as musical concerts and recreational activities including horse riding.
Leading the celebration was the Chief Imam, Dr Sheikh Osman Sharubutu.
While the national celebration was held at the Black Star Square where President John Dramani Mahama was the Special Guest of Honour, similar gatherings took place at different centres across the capital and other regions of the country.
A visit by The Spectator to some celebration grounds revealed Muslims, both young and old, elegantly dressed in colourful jalabiya and other Islamic attire, reflecting the rich culture and traditions of the Muslim community.
The celebration also portrayed the spirit of religious tolerance and peaceful coexistence in the country, as a number of Christians joined their Muslim counterparts to mark the occasion.
Muslim leaders and government officials used the opportunity to call on the faithful to uphold the teachings of the Holy Quran, renew their spiritual commitment and refrain from acts capable of undermining the peace, unity and security of the nation.
They further urged Ghanaians to continue to live in harmony and support one another for national development.
By Linda Abrefi Wadie
Dear Obaa Yaa,
During Eid-ul- Adha celebration, I decided to spend the weekend at my boyfriend’s place since we were planning towards our marriage.
To my surprise, what keeps me wide awake, restless and frustrated every single time is that he snores loudly like a generator running on full power, and I genuinely cannot get any rest
At a point, I thought it was just a normal thing, but I have realised it is something he does with ease and doesn’t see anything wrong with it.
When he steps out in the morning, I try to get enough sleep because I may not sleep in the evening.
The most annoying thing is that, he always wants to cuddle me. These two things are a no for me and a red flag.
We are about to get married, what should I do?
Enam, Keta.
Dear Enam,
The snoring and constant cuddling are frustrating, but you don’t have to choose between sleep and closeness.
Start with the snoring: check if it’s worse when he sleeps on his back, cut out alcohol before bed, try nasal strips or a humidifier, and see a doctor if he pauses while breathing.
For quick relief, foam earplugs or noise-cancelling headphones help a lot.
Separate blankets, a bigger bed, or sleeping apart on some nights often makes couples rest well and feel closer overall.
Bring this up before the wedding .Tell him you want to wake up next to him for years to come, but sleep deprivation makes you both miserable.
Test earplugs and side-sleeping this weekend, and if it’s still unbearable, bring in a doctor. Good sleep matters more for your marriage than staying glued together all night.
