Accra: Member of Parliament for the Ofoase-Ayirebi constituency, Kojo Oppong Nkrumah, has sharply criticised the manner in which the Bank of Ghana's (BoG) recent financial accounts for 2025 were disclosed to the public, warning against what he described as the politicisation of the bank's affairs. During a Minority press briefing shared on social media on May 3, 2026, the former Minister of Information claimed that BoG bypassed established procedures by allowing the National Democratic Congress (NDC) to present its financial reports.
According to Ghana Web, Oppong Nkrumah argued that the official financial statements from the Bank of Ghana, which showed a significant GHS15.6 billion loss, should have first been submitted to the finance minister. The finance minister would then formally present the report with an accompanying letter to Parliament before it was made public. He noted that this deviation from protocol was unprecedented since Ghana's independence, emphasizing the legal requirements for how BoG accounts should be published.
Oppong Nkrumah further called on politicians to allow BoG professionals to perform their duties independently, free from political interference. He cautioned that bypassing this process could politicise BoG's operations, potentially leading to the central bank's collapse. "That is why we are warning the governor and the president that the involvement of politics in the dealings of BoG could collapse the bank," he warned.
Background information reveals that on Friday, May 1, 2026, the Bank of Ghana reported a wider operating loss for the 2025 financial year. The central bank posted a loss of GHS15.6 billion, a significant increase from the GHS9.48 billion recorded in 2024. This loss continues a trend over the past four years, following figures of GHS60.9 billion in 2022 and GHS10.5 billion in 2023.
Details from BoG's 2025 Annual Report and Financial Statements for the year ending December 31 indicate that the losses are primarily attributed to the cost of its stringent monetary policy stance. Despite this, BoG's total operating income rose to GHS22.23 billion, bolstered by stronger reserve management returns, increased fee income, and proceeds from bullion gold sales. However, this income growth was insufficient to counterbalance rising costs.
Expenditure on Open Market Operations (OMOs) surged to GHS16.73 billion in 2025, a sharp increase from GHS8.59 billion the previous year, as BoG intensified liquidity management measures. Much of this expenditure was directed towards interest payments to commercial banks that invested in OMO instruments. The Bank also faced substantial market-related losses, including GHS9.05 billion from gold transactions and GHS5.47 billion from foreign exchange revaluation and exchange rate movements.
Despite these challenges, BoG maintained a positive policy solvency margin of GHS5.5 billion, indicating that its core operations remain capable of supporting its liquidity management activities.