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BoG’ denies TUC Research Director’s claim

The Bank of Ghana has taken a swipe at comment by the Director of Research at the Ghana Trades Union Congress (GTUC), Dr. Kwabena Nyarko Otoo that the Bank of Ghana is actively collaborating with some operatives at Cowlane in Accra to illegally transfer funds offshore.

According to the Central Bank, it categorically denies the said allegations and also considers them extremely reckless.

“We would have expected that such strong allegations would have been supported by the requisite evidence, and not left at pure conjecture, mere suspicion or hearsay. This is especially so considering the quarters from which the allegations were made”, it pointed out.

Dr. Kwabena Nyarko Otoo according to the BoG passed the unfortunate remark about the Central Bank on Newsfile on Joy News TV/Joy FM on Saturday, 29th October 2022.

“We advise the general public to completely disregard these comments and be assured that we, as a Central Bank, are focused on our mandate of price stability, and doing all within our power to reduce the rising general level of prices. We are doing this guided by our core values of accountability, professionalism and integrity, and in accordance with law”.

The Bank of Ghana also added it is also working with other stakeholders including the law-enforcement agencies to discourage and penalise the activities of illegal foreign exchange operators in the country.

It concluded that “finally, we advise the public to desist from making any such unfounded allegations in the future and to crosscheck same with Bank of Ghana”.

Source: Joy Business

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