The Minority in Parliament has taken aim at Bank of Ghana Governor, Dr Johnson Asiama, accusing him of poor supervision in connection with the reported $214 million loss under the Gold-for-Reserves programme.
Addressing journalists on Thursday, January 8, the Deputy Minority Leader and Member of Parliament for Asokwa, Patricia Appiagyei, faulted the handling of the programme during Dr Asiama’s tenure and demanded a full probe, insisting that those responsible must be held to account.
According to the caucus, transparency and accountability are essential to maintaining public trust in Ghana’s financial institutions. They cautioned that unresolved concerns surrounding the losses could undermine confidence in the Bank of Ghana and weaken the country’s financial governance system.
The Minority further argued that individuals with political exposure should not be protected from scrutiny, particularly in matters involving public resources.
Ms Appiagyei questioned the level of oversight exercised by the central bank, noting that the institution that financed the Gold-for-Reserves initiative and absorbed the $214 million loss did so under the Governor’s watch. She alleged that excessive fees were approved, trading losses escalated, and internal controls failed. She also criticised the Bank of Ghana’s response after the IMF flagged the losses, accusing it of downplaying the concerns rather than initiating investigations.
She challenged Dr Asiama to explain what oversight mechanisms were in place, when management became aware of the losses, why the issues were initially defended instead of examined, and who authorised the off-taker contracts. She added that given past accountability controversies involving politically exposed persons, the Governor should appreciate public concerns surrounding renewed questions over transparency and responsibility.
