According to the National Democratic Congress (NDC), Vice President Dr. Mahamudu Bawumia is the architect behind the economic mismanagement that has defined the New Patriotic Party’s (NPP) present administration.
The NDC emphasised that the Bank of Ghana’s loss in 2022 is notable among the mismanagement.
The head of the NDC in Parliament, Dr. Cassiel Ato Baah Forson, stated during a news conference on Tuesday, August 8, that they repeatedly alerted the Bank when they spotted red signals.
However, he claimed that the Central Bank disregarded all of the cautions and instead listened to Dr. Bawumia, a former deputy governor.
The former ranking member of the parliament’s finance committee told journalists, “We in the National Democratic Congress saw the red flags and have consistently warned of the mismanagement of the financial sector by the Governor of the Central Bank and his team of incompetent deputies.”
The Vice President and mastermind of the NPP’s economic mishandling team, Dr. Mahamudu Bawumia, “was the foundation on which this mismanagement was built.”
He continued by stating that the formerly renowned Bank of Ghana is “insolvent,” alluding to the GH60.8 million loss registered un 2022.
The Bank is presently operating with a negative equity of more over GH55.1 billion, according to the former deputy minister of finance.
Additionally, the bank reported a negative equity of more than GH55.1 billion. Simply put, this means
The former ranking member of the parliament’s finance committee told journalists, “We in the National Democratic Congress saw the red flags and have consistently warned of the mismanagement of the financial sector by the Governor of the Central Bank and his team of incompetent deputies.”
The Vice President and mastermind of the NPP’s economic mishandling team, Dr. Mahamudu Bawumia, “was the foundation on which this mismanagement was built.”
He continued by stating that the formerly renowned Bank of Ghana is “insolvent,” alluding to the GH60.8 million loss registered un 2022.
The Bank is presently operating with a negative equity of more over GH55.1 billion, according to the former deputy minister of finance.
Additionally, the bank reported a negative equity of more than GH55.1 billion. Simply put, this meansto the fact that the Bank of Ghana is defunct.
“In other words, this NPP economic management team headed by Dr. Mahamudu Bawumia with the complicity of the Governor of the Central Bank has bankrupted and collapsed the once prestigious Bank of Ghana, the mother of all banks in Ghana.”
The Governor, Dr. Ernest Yedu Addison, and his two Deputy Governors were given a 21-day deadline by the NDC to retire.
The 137 members of Parliament (MPs) would march on the Central Bank till they see Dr. Addison’s back, according to the NDC, if he doesn’t quit.
Additionally, the party has given them notice that they will be prosecuted during John Dramani Mahama’s upcoming administration.
