The Governor of the Bank of Ghana, Dr Ernest Addison, is likely to be subpoenaed by Parliament to answer questions if he fails to file financial statements of the central bank.
Isaac Adongo, Deputy Ranking Member on the Finance Committee of Parliament, has strongly criticized the Governor of the Bank of Ghana for the delay in filing the financial statements of the apex bank.
According to Adongo, the law mandates the Bank of Ghana to publish its assets and liabilities every 15 days and submit the financial statements by the end of each month.
He points out that the Bank of Ghana has failed to comply with this requirement.
In an interview on Eyewitness News, Mr. Adongo warned that Dr Addison will face the wrath of Parliament if he fails to comply.
“Crime has no expiry date. I have been at the forefront of using my lawyers to drag him [Dr Addison] to file his reports that are required in Parliament, which he has stayed away from doing for two years. He has subsequently filed a number of reports, but when the finance committee invites him, he plays games with us.”
“I want to tell him, that we are in conversation with the Speaker of Parliament, Alban Bagbin, to subpoena him to appear before the committee. And that we will not tolerate any such disobedience. The lack of leadership at the BoG cannot be tolerated any further, and he must account to the people’s representatives. And we will make sure that happens. He has messed the country up, and he will face the music,” Isaac Adongo cautioned.
He further cautioned that all the standard auditing procedures and financial processes applicable to BoG will be reviewed.
“The worst of it is that, they are failing to comply with their own law. Dr. Addison must know that I’m watching him very closely… He cannot hide from the mess and recklessness he has put the country in. I want him to come out as quickly as possible to publish the audited report. I want to serve a warning to the auditors, that we will review all the standard auditing procedures and international financial processes applicable to auditing BoG. The board of directors must be mindful of their fiduciary responsibilities,” he argued.
