A Political Science Lecturer at the Kwame Nkrumah University of Science and Technology (KNUST), Dr. Richard Amoako Baah, has called on the government to initiate thorough investigation into the 2022/2023 Bank of Ghana (BOG) unprecedented loss.
The Central Bank reported a loss of GHC10.5 billion in the 2023 fiscal year. The loss, according to the BOG Governor, was due to a significant increase in interest expenses on open market operations. That apart the loss was as a result of uncertainties in the global economy during the first half of 2023.
BOG has experienced two consecutive years of losses with the 2022 being unprecedented.
Though the Governor explained that the loss did not affect the Central Bank overall operations, Dr Richmond Amoako Baah is calling on government to initiate thorough investigation into the two consecutive years the BOG recorded losses.
Speaking to a Takoradi based radio station, BIG 96.7 FM, the KNUST don believes it is onlyan investigation that could unravel whether or not the loss was artificial.
Though the KNUST Political Science Lecturer admits he has his doubt that the BOG recorded the aforementioned loss looking at the huge sums of money involved. He also insisted that it is only through an investigation that the truth or otherwise could be established.
Touching on other issues, Dr. Amoao Baah downplayed the decision by the opposition New Patriotic Party (NPP) to establish a committee to ascertain the causes of the party’s humiliating defeat in the 2024 presidential and parliamentary election.
NPP has formed a committee chaired by veteran Professor Mike Ocquaye to go round the country to ascertain the cause of the party’s defeat.
However,Dr. Amoako Baah, who is a Founding Member of the party, argued that the committee cannot carry out its work and that the cause of the party’s defeat is known to everyone.
He cited arrogance, hardship and suffering amongst many Ghanaians as the cause of the party’s crushing defeat at the polls.
“Ghanaians were complaining about the hardship and suffering but not a single soul was man enough to listen to the cries of Ghanaians”.
The National Executives of the party, according to him, were all dancing to the tune of the leader of the party, Nana Akufo Addo, to the extent that they were afraid to rein in the latter.
“I expected the NPP to lose, but not to this extent. Voters have really finished our party,” he said.
