Claims by the Minority that the Bank of Ghana (BoG) understated its losses for the 2025 financial year is false, the Majority has rejected.
The Majority caucus says the report released by the central bank reflects the holistic audited accounts of the Bank which were properly prepared and fully disclosed.
Member of Parliament for Sagnarigu and member of the Finance Committee in Parliament, Atta Issah, has said that although it is legitimate for the public to scrutinise the report, it should, however, be interpreted accurately since it is an audited financial statement.
The BoG’s audited financial statement had reported a loss of GH¢15.6 billion for 2025. However, the Minority had claimed that the actual loss recorded by the Bank was far higher than the reported amount.
According to the Minority, adding other comprehensive income raised the figure to GH¢34.9 billion, while reversing gains from gold sales pushed it close to GH¢44 billion.
The Minority had argued that gold transactions and accounting adjustments were used to conceal the true extent of the loss.
In its response, the Majority said analysing financial statements should be based on established accounting standards.
“The audited financial statements clearly report a loss for the year of GH¢15.63 billion. This is derived from total operating income of GH¢22.28 billion and total operating expenses of GH¢37.91 billion.”
“It is the official, audited loss. It is not a political figure. It is the figure presented in accordance with applicable accounting standards.”
The Majority has rejected the opposition’s attempt to combine the annual loss with other comprehensive income, saying “the Majority reject the Minority’s attempt to combine the annual loss with other comprehensive income.
“The Minority’s claim that GH¢15.6 billion plus GH¢19.3 billion equals a ‘true loss’ is incorrect,” the caucus stated, adding that “profit or loss and other comprehensive income are distinct components.”
It explained that other comprehensive income captures “unrealised valuation changes,” “exchange rate differences” and “reserve remeasurements,” stressing that these are non-cash items.
“These are non-cash. They do not reflect operating performance. They are not distributable losses. Other comprehensive income is reported separately and cannot be added to construct a different loss figure.”
