Chairman of Parliament’s Finance Committee, Isaac Adongo and a board member of the Bank of Ghana (BoG) have replied to the NPP minority in parliament over their calls for the Central Bank to speak to $1.7 billion DGPP losses.
According to Isaac Adongo, the Bank of Ghana does not respond to incompetence from the Minority.
Speaking in an interview with GHOne TV, Isaac Adongo stated, “Bank of Ghana doesn’t respond to incompetence; you have no analytical conversation; all you are discussing is fighting for your survival because the Central Bank is delivering value.
Let me tell you, today, we are paying our external debts without borrowing to build reserves? Do you know that we are paying our IPPs without borrowing to build reserves? Do you know that importers are getting access to critical foreign currency without borrowing to build reserves? So why should the Central Bank be responding to an incompetent conversation? We have a lot of work to do”.
Meanwhile, Andrew Egyapa Mercer, a former Sekondi MP, has fumed at what he describes as double standards in Ghanaian politics in the ongoing debate over $1.7 billion losses incurred by the Bank of Ghana (BoG) linked to the Ghana Gold Board (GoldBod).
According to Andrew Egyapa Mercer, it is unfair for political actors to condemn BoG losses under the previous New Patriotic Party (NPP) administration while defending similar losses under the NDC government.
He recounted that under the Akufo-Addo administration, the BoG had been criticised for incurring losses while supporting the economy during the domestic debt exchange programme (DDEP), yet similar actions to support the currency were now being defended.
Speaking on Asempa FM, Andrew Egyapa Mercer stated, “The kind of politics we do in this country gets really disgusting sometimes. So it’s okay today for the Bank of Ghana to make a loss to prop up or stabilise our currency, right? But only three or four years [ago], it was terrible for the Bank of Ghana to incur losses during the domestic debt exchange programme to save the economy of Ghana.”
“Let’s not bastardise it to the point we do when we want power. Because, ultimately, when the shoes get on the other foot, and you become the victim, huge [damaging] press conferences will be the response. Let’s be led by truth”.
Also, Alban Bagbin, the Speaker of Parliament, has revealed that the House will scrutinise the reported US$1.7 billion loss, equivalent to about GH¢22 billion, recorded under the Domestic Gold Purchase Programme (DGPP).
According to Speaker Bagbin, the scrutiny will help determine whether the reported US$1.7 billion represents an actual financial loss or a policy cost.
Speaker Bagbin revealed that a motion received by his office on August 21, 2026, and would be admitted for consideration.
Speaking in parliament, Alban Bagbin stated, “With the motion they have filed, which was received in my office on the 21st of August, 2026, just three days ago, I have gone through the motion myself and I intend to admit the motion because we have to at least have an end to litigation as to whether it’s a loss or it’s a cost”.
“This House will have the opportunity to go through it. And please, Ghanaians are very intelligent people. They will listen, they will read in between the lines and they will make their decisions,” he added.
Watch the video below:
Bank of Ghana doesn't respond to incompetence… – Isaac Adongo on calls by Minority for the Central Bank to speak to $1.7 billion DGPP losses#GHOneNews #EIBNetwork#GHOneTV #NewsAlert pic.twitter.com/MFiCjT5sNf
— GHOne TV (@ghonetv) August 27, 2026
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