The Minority in Parliament is serving notice it will subject some recent expenditures by the Bank of Ghana (BoG) to a value-for-money audit.

The Central Bank's 2022 statement revealed that it made more than GHȼ60 billion in losses.

The BoG spent almost GHȼ70 million on computer-related expenses, GHȼ131 million for motor and vehicle maintenance and also GHȼ97 million for foreign and domestic travel among others.

Read also: BOG records 60.8bn-loss-in-2022

Reacting to the spending, the acting Ranking Member on the Finance Committee, Isaac Adongo said a future NDC government will probe these expenditures.

“I want to tell Dr Addison that in the future, we will subject these numbers to value-for-money audit. We will understand how it is that it is reasonable to spend 33 million cedis on communication. How reasonable it is for you to spend 97 million on travels? We will perform a value-for-money audit, of the finances of the Bank of Ghana,” he said.

Mr Adongo also called on Parliament to exert its influence to undertake the appropriate supervisory role.

The Bolgatanga Central MP insists a purported write-off of debt owed by the government as void because Parliament did not approve of it by a resolution.

He explained that such a write off can only be completed with a resolution of Parliament.

“In the first place, you people were here, I called you to this place and said that there was an alarm at the Bank of Ghana because the man was just printing money and throwing them at government, isn’t it? I told you at the time that I was aware of GHȼ44 billion in 2022.

Read also: Minority calls out BOG for writing off over GHȼ30bn debt owed by government

“And there was a balance of GHȼ35 billion from 2021 pushing the figure to GHȼ79 billion and that this was illegal and it was creating serious fiscal dominance over monetary policy, and that was the reason we’re suffering from inflation, high interest rates, and the depreciation of the currency. The next day didn’t they write thesis telling you that they were overdraft,” he said on Thursday.

According to the MP, this move by the Bank of Ghana seeks to evade “the powers of Parliament’s to exercise oversight over the public finances of our country.”

He added that the BoG must come under section 53 of the Public Financial Management Act.