GH¢34.9 billion net equity drop, Oppong Nkrumah fires back at Sammy Gyamfi: ‘Stop spinning the loss, taxpayers are paying for it.
Kojo Oppong Nkrumah has debunked Sammy Gyamfi’s claim on alleged losses at the Bank of Ghana, saying he was trying to down play a major financial loss. In a Facebook statement on May 10, the MP said the difference between “operating loss” and “total comprehensive loss” does not change the impact on taxpayers, alluding to the financial statements of the central bank, which, he said, show a GH¢34.9 billion decline in net equity as opposed to the GH¢15 billion figure alluded to by Mr. Gyamfi. He also said the treatment of accounting has changed with the current administration, so it is difficult to compare this year’s numbers to previous years. He pointed to KPMG’s audit observations which he said raise questions about the use of full International Financial Reporting Standards. Mr Oppong Nkrumah also called for a parliamentary probe into the matter adding to the political discourse on the financial performance of the Bank of Ghana.
