The Minority Caucus in Parliament is asking the Speaker, Alban Sumana Kingsford Bagbin, to compel Dr. Ernest Addison, the governor of the Bank of Ghana, to testify before the House’s Finance Committee about a number of alleged violations.
The Minority has accused that the Governor has broken many laws, including the requirement to file and publish financial accounts every 15 days and to publicly disclose assets and liabilities at the end of each month.
At a news conference in parliament on Wednesday, Isaac Adongo, the deputy ranking member of the finance committee, stated that the BoG has been in blatant breach of this rule for about six months.
According to Mr. Adongo, it is surprising that the central bank is breaking its own Act after the BoG brought persons before the courts for breaching the BoG Act, which caused the collapse of some.
“He should know that the same level of accountability would be extended to him.”
“He can decide whether to cut his losses to comply with the law or to continue with this violation of its own Act and that the long arm of the law is waiting for him and he should remember that criminality has no expiry date,” Adongo said.
Mr. Adongo reminded the bank’s board of directors and auditors that they may both be equally responsible for overseeing the needless depreciation of the bank’s assets resulting from reckless lending and money printing to the government, adding that this would be looked into.
Such inquiries, according to him, would show whether these auditors follow accepted procedures or not.