Abena Osei-Asare warns BoG’s GHc93bn negative equity could burden taxpayers
Former Deputy Finance Minister and Chairperson of Parliament’s Public Accounts Committee, Abena Osei-Asare, has raised concerns over the deteriorating financial position of the Bank of Ghana (BoG), warning that it could ultimately impose a heavy burden on taxpayers.
She described the central bank’s rising negative equity as a major fiscal risk that requires urgent parliamentary attention.
In a Facebook post on Sunday, May 3, 2026, commenting on the Bank’s 2025 audited financial statements, the Atiwa East MP noted that BoG’s negative equity worsened significantly from GH¢58.62 billion in 2024 to GH¢93.82 billion in 2025. She also pointed out that the Bank’s annual loss increased from GH¢9.49 billion to GH¢15.63 billion over the same period.
Although she acknowledged that the central bank remains operational, she stressed that its weakening balance sheet cannot be treated as a purely accounting issue, given government’s commitment to restore its capital base.
Citing details from the 2025 financial statements, she noted that government is expected to recapitalise the Bank through a phased programme spanning 2026 to 2032.
“The BoG’s own 2025 accounts acknowledge Government’s obligation to restore the capital base through a phased recapitalisation programme from 2026 to 2032,” she stated.
According to her, this arrangement means the financial burden could eventually fall on the state and, by extension, taxpayers.
“That means today’s losses become tomorrow’s taxpayer cost, debt instrument, or fiscal trade-off,” she said.
Mrs. Osei-Asare described the GH¢93.82 billion negative equity position as a “fiscal warning light,” cautioning that the implications extend beyond the central bank to national public finances.
“A functioning central bank with a GH¢93.82 billion negative equity hole is still a public finance problem, regardless of its operational continuity,” she stressed.
She further called for full disclosure of the government’s recapitalisation framework, including any agreements, bond arrangements, cash injections, or write-offs required to restore the Bank’s capital position.
“I demand publication of the full recapitalisation MoU and the fiscal implications of any bonds, cash injections or write-offs,” she said.
The former deputy minister also urged Parliament’s Finance, Economy, and Public Accounts Committees to summon key officials, including the Governor of the Bank of Ghana, the Finance Minister, external auditors, and relevant Bank officials, for urgent briefings.
She insisted that any recapitalisation involving public funds must be subjected to strict parliamentary oversight and transparent reporting.
“The public is entitled to know who is responsible, on what terms, and at what cost to the taxpayer,” she added.
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