Paa Kow Edmundson, PPP National Secretary Remy

The Progressive People’s Party (PPP) has petitioned Parliament to summon and investigate the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, and the entire Board of Directors over the excessive losses the bank witnessed in the 2022 financial year.

The petition, signed by the National Secretary of the party, Remy Paa Kow Edmundson, stated as a creature of the Constitution, the BoG, with all directors involved, must be made to tell the people’s representatives how its management took the decisions that brought about the losses and negative fairness.

On July 28, 2023, the BoG released its 2022 Annual Report and Financial Statement which revealed that it had recorded a staggering loss of GH¢60 billion, that’s equal to $6 billion.

“The Board of Directors of the BOG encompass many independent members with great professionals and business expects.

We don’t understand how they might have sat down and watched on for the alleged wanton dissipation of funds,” the statement said.

It also cited that the directors have been greatly compensated for their time and attention to the central bank affairs.

“More worrying is the fact that most of the excessive expensive the BOG made were carried out without parliamentary approval, and therefore illegal.

Parliament as the people’s representatives ought rise to the occasion and ensure that the people are well represented in instances like this,”.

The party also called on Parliament to sanction any officer found to be complicit within the reckless management of the economic system and the unlawful conduct which caused the huge losses.

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