The Member of Parliament for Ofoase-Ayirebi and former Minister of Information, Kojo Oppong Nkrumah, has called for the urgent recapitalisation of the Bank of Ghana (BoG) following concerns over its financial position as highlighted in recent audit findings.
Speaking on Super Morning Show on Monday, 4 May, Mr Oppong Nkrumah warned that emerging policy directions under the government’s “reset agenda” could undermine the long-term stability of the central bank if not carefully managed.
He expressed concern that some recent policy decisions appear to be influenced by political considerations, cautioning that such an approach risks weakening the BoG’s core mandate of maintaining monetary stability and supporting economic resilience.
“You know very well that when you start selling your assets to generate revenue, you are in trouble, so we say with all humility that we have been warning since March 2025, that the approach you are using, you can even bring inflation down to zero, but you will create problems,” he argued.
Mr Oppong Nkrumah further criticised what he described as a strategy of asset sales aimed at stabilising the cedi, warning that it represents a short-term solution that fails to address deeper structural challenges within the economy.
He stressed the need for the central bank to remain insulated from political influence, noting that strict adherence to its technical and independent mandate is essential for restoring confidence in Ghana’s macroeconomic framework.
The former Information Minister also called for a clear and immediate recapitalisation plan to strengthen the BoG’s balance sheet and enhance its capacity to effectively perform its functions.
Watch the full interview below;
“Today, the Bank of Ghana is in a negative equity position, net of Ghc93 billion, and the bank needs to be recapitalised urgently,” he said.
“And we should not use any sort of politics to cover it,” he added.
His comments come amid an intensifying public debate over the financial health of the central bank, with analysts and policymakers divided over the sustainability of recent economic stabilisation measures and their long-term implications for Ghana’s economy.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Source: www.myjoyonline.com