Former Minister for Finance, Dr Mohammed Amin Adam, has accused the Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, of acting as a partisan politician rather than an independent central bank governor, following what he described as troubling developments at a recent Public Accounts Committee (PAC) hearing.

The comments stem from the Governor’s appearance before the PAC on Monday, January 12, where he was questioned over reported losses under the Gold for Reserves programme.

According to Dr Amin Adam, the BoG Governor was unable to provide clear documentation or data to support claims of a GH¢3.8 billion loss allegedly incurred in 2024.

In a Facebook post reacting to the hearing, the former Finance Minister described the situation as “mind-boggling”, particularly because the alleged losses were not reflected in the Bank of Ghana’s published 2024 financial statements.

He said it was “bizarre” for such significant losses to be publicly stated without being formally reported in the central bank’s accounts.

Dr Amin Adam further questioned whether the Bank of Ghana had properly reported the alleged losses to the International Monetary Fund (IMF) under Ghana’s Extended Credit Facility programme.

He noted that IMF review reports have only cited losses of $214 million in 2025, raising concerns about possible inconsistencies or misreporting.

He warned that any misreporting to the IMF would be a serious matter under the programme and insisted that the Governor’s conduct undermines the credibility and independence of the central bank.

“I have always said that this BoG Governor is a partisan politician, not an independent central bank governor,” he stated.