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Whoever created BoG’s GH₵53bn negative equity mess should be held responsible – Dr. Atuahene
Banking consultant Richmond Atuahene has called for accountability over the Bank of Ghana’s (BoG) GH₵53 billion negative equity, insisting that those responsible for the mess must be held accountable.
In an interview on Joy FM’s Midday News on Wednesday, March 12, he called for those responsible for breaching financial regulations to be summoned before Parliament to explain their actions.
“There was a law that stated they should not exceed a 5% fiscal financing threshold, yet they went as high as 60%. This is a clear violation, and they cannot claim ignorance. The Governor, the Minister, and those involved must be held accountable for their actions,” he asserted
His comment comes after the Finance Minister, Dr. Cassiel Ato Forson, advised BoG to explore internal cost-cutting measures instead of relying on taxpayer funds for a GH₵53 billion bailout to address its negative equity position.
Dr. Atuahene supported the Finance Minister’s stance that the government cannot afford to recapitalise the central bank at this time, given the nation’s fiscal constraints.
“Like the Minister said, you don’t create a mess and leave it for others to clean up. Whoever created this mess must take personal responsibility. When they engaged in the monetisation of fiscal deficits in 2021 and 2022, some of us warned them about the consequences, but they didn’t listen,” he stated.
Dr. Atuahene stressed that rather than relying on external funding, the Bank of Ghana should explore internal restructuring, cost-cutting, and asset sales, including a sale-leaseback arrangement on some of its properties, to raise the necessary capital.
He also highlighted the potential damage to Ghana’s international credibility if the Bank of Ghana remains in a financially distressed position.
“This affects Ghana’s credibility. BoG has correspondent relationships with the Bank of England, the Federal Reserve, and the African Development Bank. If it continues to operate in a capital-deficient state, international institutions may lose confidence in our financial system,” he warned.
Dr. Atuahene also criticised the central bank for insisting that it is “policy solvent,” arguing that capital solvency is more critical in this situation.
“You can claim policy solvency all you want, but if you are capital insolvent, it means you cannot function properly. BoG has been making losses year after year. They made losses in 2023, and they are making losses in 2024. How long will this continue?” he questioned.
Source: Myjoyonline.com
Ghanaian music icon, Akwasi Poku Addae, known in Showbiz circles as Kwaisey Pee has honoured his promise to children suffering from cancer.
Ahead of his 25th anniversary event held at the D’ Icon Event Centre at East Legon last year, he made a promise to donate some funds to children suffering from cancer.
True to his word, the musician has recently made a donation of GHC50,000 to the Paediatric Oncology Unit of the Korle-Bu Teaching Hospital.
He told the Ghanaian Times that children are so dear to him, and was optimistic the support would go a long way too impact lives.
The music dynamo also promised that the gesture will not be the last,” it will be a continuous feature from me.”
He also called on Ghanaians home and abroad to lend a helping hand to children suffering from cancer.
According to him, children with cancer have many needs, and a helping hands will go a long way ease the suffering.
“Cancer treatment is very expensive, and leaving that to parents of the children alone, will be a huge burden, with support from you and myself, we can make some changes in other people’s lives,” he concluded.
By Edem Mensah-Tsotorme
A disagreement has emerged between Member of Parliament for Berekum West, Dickson Kyere-Duah, and energy consultant Kwadwo Poku over government funding for Ghana’s participation in the 2026 FIFA World Cup.
The debate centred on government’s decision to budget about 13 million dollars to support the national team, even though FIFA is expected to provide an appearance fee of about 10.5 million dollars if Ghana qualifies for the tournament.
During the discussion on Joys news , Mr Poku questioned why the government should allocate such an amount when FIFA already provides funds to participating countries.
According to him, the appearance fee alone should help cover some of the country’s expenses.
He argued that if FIFA is giving Ghana 10.5 million dollars simply for qualifying for the tournament, it raises questions about the need for the government to appropriate additional funds.
Mr Kyere Duah, however, explained that the government’s allocation was part of advance planning captured in the national budget even before the final qualification results were known.
He noted that the budget for the tournament period was prepared in November 2025, when it was not certain that Ghana would qualify.
He stressed that budgeting does not automatically mean the entire amount will be spent.
According to him, the funds are meant to prepare the team from the start of the competition period until the end of the tournament.
Mr Kyere Duah explained that if the team exits the tournament early, the full amount allocated in the budget will not be used.
Mr Poku maintained that FIFA already provides financial support to teams for participating in the World Cup and insisted that the government must clearly justify additional spending.
The discussion extended to the role of the Ghana Football Association in managing the national teams.
Mr Poku described the association as a private institution and argued that FIFA also operates as a private body that does not allow government interference.
He explained that FIFA provides funds to teams to support their preparation and participation in the tournament.
Mr Kyere Duah, however, maintained that national teams represent the country and require government support to operate effectively.
By: Jacob Aggrey
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