The Member of Parliament for Bawku Central, Mahama Ayariga, has described the Bank of Ghana as a crime scene.
He made the remarks while addressing participants at a public forum on Thursday at the University of Professional Studies, Accra (UPSA), ahead of its #OccupyBoG protest.
He averred that the Central Bank’s excessive lending to the government in the past year is unacceptable.
According to him, though 2016 was a tough fiscal year and doubled as an election year, former President John Dramani Mahama did not have to borrow from the BoG.
However, the current managers at the Central Bank are so engrossed in financial crime that they have turned the bank into a crime scene.
“It is important to point out that, in 2016, on the watch of President John Mahama and notwithstanding that year’s general elections, the NDC government financed the entire budget without any support from the Bank of Ghana. The Bank of Ghana is now a crime scene and the managers of the economy led by Mr. Strategist aided and abetted this economic crime.”
”Why are we embarking on the #OccupyBoG protest march?
Our protest march is to back our demand for the immediate resignation of the Governor of Bank of Ghana and his two deputies. They mismanaged the Bank of Ghana and illegally and excessivesly printed money between 2019 to 2022 in contravention of the Bank of Ghana Act, leading to a hyperinflation of 54.1%.
This pushed an additional 850,000 Ghanaians from middle-income into extreme poverty. Their reckless mismanagement of the Central Bank also resulted in a loss of GH₵60.8 billion, causing a negative equity of GH₵55.1 billion. They also illegally wrote off a whopping GH₵48 billion of Government’s indebtedness, as well as other acts of financial
malfeasance by the Governor, his Deputies and Directors of the Bank of Ghana as contained in the 2022 Annual Report and Financial Statement of the Bank. These are the reasons why we are going to embark on the #OccupyBoG protest march on 5th September 2023.”