Accra: A heated exchange erupted on live TV on May 5, 2026, between Presidential Staffer Shamima Muslim and Dennis Miracles Aboagye, aide to former Vice President Dr. Mahamudu Bawumia, during a discussion on the Bank of Ghana's reported GHS15.6 billion operating loss.
According to Ghana Web, the programme on Metro TV, which was initially focused on unpacking the financial implications of the Central Bank's loss, quickly turned tense after Shamima Muslim questioned the level of expertise both she and Miracles Aboagye had in fully interpreting the figures under discussion. Her comment triggered a sharp rebuttal from Aboagye, who insisted he is well-versed in financial matters and capable of analysing the issue. He argued that the figures released by the Bank of Ghana should be understood in clear and direct terms.
"Data is not about sentiment. You lost GHS44 billion. That's what it is. Nothing else," he said. Shamima Muslim, however, interjected, maintaining that the discussion required technical clarity rather than simplified interpretations, especially given the complexity of central banking operations and financial reporting. "You are not an expert in managing the economy. This is someone positioning himself for Ghana. Have you managed an economy before?" she questioned.
The debate comes against the backdrop of concerns raised in Parliament over the Bank of Ghana's reported GHS15.6 billion operating loss for the 2025 financial year. While the Central Bank has made its financial statements public, members of the Minority Caucus have argued that the figures do not fully reflect the institution's actual financial position, alleging inconsistencies with international financial reporting standards and reliance on internal accounting frameworks.
According to the Bank of Ghana's 2025 Annual Report and Financial Statements, the Central Bank has recorded losses for four consecutive years, including GHS60.9 billion in 2022, GHS10.5 billion in 2023, and GHS9.48 billion in 2024. The latest figure of GHS15.6 billion represents a significant increase from the previous year. However, the Minority maintains that the official figure underestimates the true scale of losses.
Addressing a press conference on May 3, 2026, the Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, challenged the Central Bank's presentation of the figures, insisting the actual operating loss is significantly higher. "The government says the loss is GHS15.6 billion. The true operating loss of the Bank is actually GHS34.9 billion," he stated. He argued that when proceeds from gold sales are factored in, the total comprehensive loss could rise to nearly GHS44 billion. "In fact, if you add back the GHS9.6 billion proceeds from gold sales, the recalculated loss is actually GHS44 billion," he added.