Former Finance Minister, Dr Mohammed Amin Adam, has criticised the Governor of the Bank of Ghana, Dr Johnson Asiama, for allegedly failing to substantiate claims of GH¢3.8 billion losses under the Gold for Reserves programme in 2024.

In a Facebook post, Dr Amin Adam said the PAC hearing revealed “troubling signs,” as the Governor could not provide the necessary information or documentation when questioned. “The inability of the Governor to readily provide the necessary information… is mind-boggling,” he stated.

He noted that the alleged losses were not included in the bank’s 2024 published financial statements. “The fact that such losses, if they really occurred, were not reported… but the Governor went ahead to peddle such claims is really bizarre,” he added.

Dr Amin Adam also highlighted concerns over data reporting to the IMF, saying the omission of the 2024 losses from official review reports raises questions about accuracy and accountability. 

“Is it that there was misreporting to the IMF? Misreporting is a very serious issue under the IMF programme,” he said.

He concluded by asserting that the BoG Governor is politically partisan rather than independent, reinforcing his call for greater transparency and oversight of the central bank’s operations.