Bank of Ghana act: Minority to subpoena BoG Governor to parliament

Isaac Adongo, the Deputy Ranking Member on the Finance Committee of Parliament, has issued a stern warning to the Governor of the Bank of Ghana, Dr. Ernest Addison, stating that the Minority Caucus is prepared to bring the Governor before Parliament if the central bank fails to file its financial statements.

Isaac Adongo emphasized the need for the Governor to adhere to the Bank of Ghana Act and warned that accountability will be extended to him, citing previous court cases involving violations of the Act.

In a press briefing, Adongo stated, "I want to serve a warning to the Governor of the central bank, that he should remember that he has dragged people to court over violations of the Bank of Ghana Act. As a matter of fact, one of them just died... He should know that the same level of accountability will be extended to him. But he has a decision to make, whether to cut his losses and abide by the law or to continue with these violations of the Bank of Ghana Act, and that the long arm of the law is waiting for him."

He further emphasized, "He should remember that criminality has no expiring date."

The criticism stems from the Bank of Ghana's failure to comply with the legal requirement of filing financial statements within the specified timeframe.

Isaac Adongo highlighted the discrepancy between the central bank's actions and its expectations of other financial institutions pointing out that while all other banks have submitted their returns, the Bank of Ghana itself has not filed and published its financial statement for nearly six months

YNA/WA