The Government of Ghana has denied reports that the central bank plans to sell Ghana's country’s stake in the London-based Ghana International Bank (GHIB), following public concerns raised by IMANI Africa Vice President Kofi Bentil.

The controversy began last week after reports emerged that GHIB's board had asked its Chief Executive Officer to step down without publicly stating the reasons for the decision.

The dismissal was rumoured in some reports to be linked to the CEO's alleged opposition to a proposed sale of Ghana's shares in the bank.

Kofi Bentil amplified the claims on social media, criticising the Bank of Ghana's recent financial decisions.

“They sold 18 tonnes of gold and used it to reduce their losses. Then they floated a sale-and-leaseback of their office, which backfired. Now they are planning to sell Ghana's shares in GHIB, London. Nkrumah must be rolling in his grave. Stay tuned,” he posted.

Responding to the claims, Beatrice Annan, a presidential staffer and member of the Bank of Ghana Board, dismissed the reports.

“This is a big fat lie. Kindly disregard makers of fake news who are gasping for scandals,” she wrote.

The denial by the presidential staffer and Bank of Ghana board member apart, the central bank itself has yet to issue any official statement on either the reported dismissal of the GHIB CEO or the alleged plan to sell Ghana's shares in the bank.

In a follow-up post, Bentil acknowledged the government's denial but raised new questions about GHIB's funding.

“A clear position that GHIB shares won't be sold is good,” he wrote.

“But question: Has the World Bank approved a $100 million loan for GHIB and expressed interest in injecting equity? What does that mean?”

GHIB was established in 1959 and serves as a correspondent bank for Ghanaian banks and businesses with links to the United Kingdom and international trade markets.

Ghana's stake in the bank is widely regarded as strategic for foreign exchange operations and trade finance.