Boako slams Bank of Ghana: ‘Gold sales and accounting tricks won’t hide insolvency, stop calling one-off gains profit.
Gideon Boako has accused the Bank of Ghana of hiding its insolvency in the 2025 financial statements by using accounting maneuvers, describing the move as a “accounting gimmick”. “The Bank improved its reported solvency position mainly through adjustments that inflated income figures, especially proceeds from gold sales, which he argued should not be treated as recurring revenue because they are one-off gains that distort the institution’s true financial health. Speaking on Channel One TV on May 6, Dr Boako said the Central Bank went into the market late in the financial year to sell gold to beef up its income position after it faced the risk of insolvency. The comments come amid the ongoing debate surrounding the Bank’s 2025 financial statements, which showed a net profit of some GH¢5 billion despite an operating loss of GH¢15.6 billion and increasing negative equity, although the Bank maintains that it is policy solvent and able to maintain price and financial stability.
