Gideon Boako, the Member of Parliament for Tano North and a member of Parliament’s Finance Committee, has stated that the debt recorded by the Bank of Ghana in 2025 exceeds the GH¢15.6 billion figure disclosed to the public. In its financial report published on May 1, 2026, the central bank announced a loss of GH¢15.6 billion—an amount widely described as the second-largest loss since the 2008 redenomination of the cedi.
However, Dr. Boako argues that the actual losses are significantly higher than what was reported, backing his claim with detailed figures.
In a Facebook post, he cautioned the public not to accept what he called misleading claims that the Bank’s loss was only GH¢15.63 billion. According to him, when the GH¢19.32 billion recorded under Other Comprehensive Income (OCI) is added, the total loss rises to GH¢34.95 billion. He noted that this is reflected in the worsening negative equity, which increased from GH¢58.62 billion in 2024 to GH¢93.82 billion in 2025.
He further explained that this amount represents the actual loss incurred by the Bank, even after accounting for revenue from gold sales. Without the GH¢9.57 billion earned from gold transactions, he said, the total loss would reach GH¢44.52 billion. He questioned the inclusion of proceeds from the sale of 18 tonnes of gold, arguing that it does not reflect core operations and describing it as an accounting strategy used to conceal deeper financial challenges.
Dr. Boako also criticised what he described as attempts to focus only on the GH¢15.6 billion operating loss while overlooking the GH¢19.32 billion recorded in OCI. He pointed out that, unlike 2025, the Bank recorded a GH¢4 billion gain in OCI in 2024, not a loss.
He has consistently commented on the financial position of the Bank of Ghana, previously warning that substantial losses had been incurred and would become evident once the Bank released its financial statements.
