A member of the National Democratic Congress (NDC)’s Legal Team, Godwin Edudzi Tameklo, has stated that the GH¢60 billion loss reported by the Bank of Ghana (BoG) would have been sufficient to fund the Nation Builders Corps (NABCO) for a span of six decades.
According to the Bank of Ghana’s 2022 report, the institution incurred a significant loss amounting to GH¢60 billion. The central bank attributed this substantial loss to the outcomes of the Domestic Debt Exchange Programme.
During an interview with the media, Edudzi Tamekloe, who also practices law privately, underscored the substantial impact of the lost GH¢60 billion on various governmental undertakings.
He criticized the government’s inability to sustain the NABCO program due to financial constraints, even in light of the reported GH¢60 billion allocation from the central bank.
“The Bank of Ghana is informing us that they have recorded a loss exceeding GH¢60 billion. This very loss would have sufficed to cover the NABCO beneficiaries’ expenses for a staggering 60 years. It means the annual payments could have been supported by this loss for six decades,” Edudzi Tamekloe explained.
He highlighted that the government’s challenges in upholding the NABCO initiative stem from financial limitations, despite the supposed GH¢60 billion inflow from the Bank of Ghana. This situation prompts inquiries into the utilization of such a significant sum of money and the government’s capability to allocate it appropriately.
Edudzi Tamekloe further voiced concerns about the transparency and accountability in managing such a substantial fund. He pointed out that the substantial amount could have been directed to fortify crucial government programs like NABCO.
“At this moment, the government of Ghana is indebted to NABCO trainees. Hence, the pressing question emerges: where has the GH¢60 billion disappeared to? Where is this substantial sum of money?” he posed.