NDC MPs have today, Wednesday, August 23, engaged the Greater Accra Regional Police Command ahead of its planned protest against the Bank of Ghana (BoG) Governor and his two deputies. 

The demonstration which is scheduled for Tuesday, September 5, follows their demand for the resignation of the Governor and his deputies over the losses the central bank recorded in 2022.

Due to this, the NDC MPs led by their Deputy Leader Emmanuel Armah Kofi held an indoor meeting with the Police to agree on the modalities of the protest.

After the said meeting, Armah Kofi Buah in addressing the media said all necessary arrangements have been agreed for a successful protest.

According to them, their demonstrations are based on the central bank’s illegal printing of over GH¢80 billion to the Akufo-Addo government.

“We write in line with sections,1 2&3 of the Public Order Act 1994 (Act 491), to notify you of an impending public protest to be embarked upon by the Minority in Parliament in collaboration with Civil Society Organizations, Progressive Forces and other well-meaning Ghanaians.”

“The purpose of this protest is to express our revulsion against the illegal printing of money (about GH¢ 80 billion) between 2021 and 2022 by BOG for the corrupt Akufo-Addo/Bawumia/NPP government which led to a hyper-inflation rate of 54.1% in December 2022,” excerpts of the letter said. 

According to them, this conduct by the BoG has pushed some 850,000 Ghanaians into poverty.

“This singular act of BOG has negatively impacted livelihoods and businesses and pushed about 850,000 Ghanaians into poverty in the year 2022 alone.”

“As representatives of the Ghanaian people, the Minority in Parliament is totally disgusted by the crass mismanagement and reckless mishandling of the affairs of the Bank of Ghana, which resulted in a gargantuan loss of GH¢60.8 billion and a negative equity of GH¢5.1 billion in 2022, with its attendant hardships on Ghanaians,” the statement added. 

Meanwhile, the Governor of the Bank of Ghana (BoG), Dr Ernest Addison has explained that the central bank did not provide funding for the government until 2020 and 2022 during the COVID-19 pandemic and after investors in the capital market declined from lending to the government.

According to him, the central bank strictly adhered to the zero financing of government expenditure until the economic difficulties set in last year.