It is claimed that the Central Bank spent a total of GHS287.833 million in 2022 and is currently unable to show what the money was spent on.
Minority Leader, Dr Cassiel Ato Forson, made this claim on August 8, while addressing the press from the headquarters of the National Democratic Congress (NDC).
He cited the 2022 Annual Report and Financial Statement of the Bank as the basis for his assertion.
According to Dr Ato Forson, the report manifests “mismanagement, ineptitude and potential corruption at the Bank of Ghana.”
In the said report, the Central Bank noted that GHS287.833 million was spent on “Other administrative expenses,” for which it failed to provide specifics.
In 2021, “Other administrative expenses” cost the Bank of Ghana GHS108,661 million. This is a difference of GHS179,172 million.
Per the 2022 Annual Report and Financial Statement of the Bank, the Central Bank incurred GHS1,620,636 as personnel costs; GHS97,437 million on foreign and domestic travel, spent GHS131,586 million on Motor vehicle maintenance/running.
Following the unexplained expenditure, coupled with the loss of GH¢60.8 billion, the Minority in Parliament has called for the removal of Governor Dr Ernest Addison and his deputies; Dr. Maxwell Opoku-Afari (1st Deputy Governor) and Mrs. Elsie Addo Awadzi. (2nd Deputy Governor.)