• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

BoG Governor accused of failing to comply with financial reporting requirements

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
169
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

BoG Governor accused of failing to comply with financial reporting requirements

In a scathing rebuke, Isaac Adongo, Deputy Ranking Member on the Finance Committee of Parliament, has called out Dr. Ernest Addison, Governor of the Bank of Ghana, for allegedly neglecting to file the financial statements of the central bank for nearly six months.

Mr Adongo contends that the Bank of Ghana is mandated by law to publish its assets and liabilities every 15 days and submit financial statements by the end of each month.

However, since the beginning of 2023, the Bank of Ghana has purportedly failed to adhere to these directives, drawing criticism from Mr Adongo. He asserts that while the central bank is quick to revoke licenses of financial institutions that do not comply with the Bank of Ghana Act, it appears to be failing to comply with its own legislation.

The MP emphasizes that the Bank of Ghana played a role in the country’s current economic challenges, citing the excessive printing of money to finance government activities in recent years. Mr Adongo claims this contributed to soaring inflation rates, high-interest rates, and a significant depreciation of the cedi.

The MP expressed disappointment with the Bank of Ghana’s non-compliance, specifically with regard to the publication of its financial statements. According to him, all other banks have filed their returns and submitted detailed audited reports, allowing for comprehensive assessments of their balance sheets. However, the Bank of Ghana has not published its financial statements, violating its own legal obligations.

The MP warned that if Governor Addison does not rectify the situation promptly, the Minority Caucus is prepared to bring him before Parliament or take legal action. Adongo made it clear that accountability applies to all, including the Governor, and urged him to abide by the law to avoid further consequences.

RelatedPosts

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

Public Transport Fares to Rise by 20% From August 8 

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

Additionally, Mr Adongo called upon the Bank of Ghana’s Board of Directors and auditors to thoroughly investigate the matter. He stressed the importance of scrutinizing the bank’s loan book and cautioned that if the auditors are found to be complicit in concealing the true state of affairs, they will face legal repercussions and be reported to their regulatory bodies.

 

Tags: BOGBoG Governor accused of failing to comply with financial reporting requirementsfinancial reporting requirementsGovernor Addison
No Result
View All Result

Highlights

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

Transfer DealSheet: Latest on Benjamin Sesko, Nicolas Jackson and More

Gov’t Targets 650,000 Tonnes of Cocoa Production for 2025/26 Crop Season, Eyes 1 Million Tonne Output in the Long-term 

Shoprite to Exit Ghana and Malawi Sharpening Focus on Core South African Market

Gold Fields Forecasts Total Gold Production of 2.4 Million Ounces for 2025

Trending

Features

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

August 5, 2025

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut Renowned public policy...

Public Transport Fares to Rise by 20% From August 8 

August 5, 2025

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

August 5, 2025

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

August 5, 2025

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

August 5, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.