Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, has called on the Bank of Ghana (BoG) to immediately adopt a clear and strategic recapitalisation plan to restore confidence in the central bank following its recent financial losses.

He argued that the recapitalisation strategy must be well-structured, time-bound, and focused on strengthening the Bank’s financial position within the shortest possible period.

Speaking on Joy News’ The Pulse on Wednesday, May 13, Mr Oppong Nkrumah said a transparent and time-bound plan was necessary to stabilise the institution.

He warned that the continued deterioration of the Bank’s financial position could have wider implications for the economy.

Mr Oppong Nkrumah cautioned that if urgent steps are not taken, the situation could worsen significantly, with further increases in the Bank’s losses.

He stressed that delaying action could push the losses even higher and insisted that recapitalisation should be undertaken without delay.

The former Information Minister further noted that restoring the financial health of the Bank of Ghana is critical to maintaining currency stability and sustaining broader economic confidence.

He added that without decisive intervention, the country’s economic outlook could come under further pressure due to the central bank’s financial challenges.