BoG boss must be prosecuted for printing GH¢44 billion fresh money — Sammy Gyamfi

The Bank of Ghana (BOG) has justified its funding support to the 2022 budget presented by the New Patriotic Party (NPP) government.

According to the BOG, the support of ¢44.5 billion to the government avoided external and domestic debt default in 2022.

In a statement copied to the press, the Bank of Ghana said the support was for critical imports to keep the economy on a stable path.

Last year, the Minority Spokesperson on Finance, Dr. Cassiel Ato Forson alleged that the Governor of the Bank of Ghana (BoG) printed money for the country without approval from Parliament.

According to him, the Central Bank perpetuated an illegality that has to be handled.

Also, the Member of Parliament for Bolgatanga Central, Isaac Adongo, accused the BoG Governor, Ernest Addison, of illegally and indiscriminately printing money for the government in breach of regulations of the Central Bank and other financial sector regulations.

Sammy Gyamfi Pulse Ghana

He argued that the Central Bank which shut down banks over lighter infractions is now breaking laws with impunity.

Sammy Gyamfi in reaction in a Twitter post said the statement from the BoG is an admission of criminality and can suffice as a confession statement.

He said the governor of the BoG and all those culpable are candidates for criminal prosecution under section 67 of ACT 612 for violating section 30 of ACT 612 as amended by ACT 918.