Former Finance Minister Dr Mohammed Amin Adam has accused the Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, of acting more like a partisan politician than an independent central bank leader, following what he described as concerning developments at a recent Public Accounts Committee (PAC) hearing.
The remarks come after Dr Asiama appeared before the PAC on Monday, January 12, to answer questions about reported losses under the Gold for Reserves programme.
Dr Amin Adam argued that the BoG Governor failed to provide clear documentation or data to substantiate claims of a GH¢3.8 billion loss allegedly recorded in 2024.
In a Facebook post commenting on the hearing, the former Finance Minister described the situation as “mind-boggling,” highlighting that such substantial losses were not reflected in the Bank of Ghana’s published 2024 financial statements.
He added that it was “bizarre” for losses of this magnitude to be publicly announced without appearing in the central bank’s official accounts.
Dr Amin Adam also raised questions about whether the Bank of Ghana had properly reported these alleged losses to the International Monetary Fund (IMF) under Ghana’s Extended Credit Facility programme. He pointed out that IMF review reports have only cited losses of $214 million in 2025, suggesting possible discrepancies or misreporting.
Warning of the serious implications of any misreporting to the IMF, he insisted that the Governor’s conduct threatens the credibility and independence of the Bank of Ghana.
“I have always said that this BoG Governor is a partisan politician, not an independent central bank governor,” he stated.