Member of Parliament for Tano North and a member of Parliament’s Finance Committee, Gideon Boako, has challenged the Bank of Ghana’s reported 2025 financial losses, arguing that the central bank’s actual losses are far higher than the GHS15.6 billion officially announced.

The comments follow the release of the Bank of Ghana’s 2025 Financial Statements on May 1, 2026. In the report, the central bank disclosed an operational loss of GHS15.6 billion, a figure that has already drawn significant public attention and has been described as one of the highest losses recorded by the institution since the redenomination of the cedi in 2008.

However, Dr. Boako believes the published figure does not present the full picture.

In a post shared on his Facebook page, he argued that the total losses should include an additional GHS19.32 billion recorded under Other Comprehensive Income (OCI). According to him, combining both figures pushes the Bank of Ghana’s total losses to about GHS34.95 billion.

“Do not buy the propaganda that the loss BoG made is only GHS15.63 billion,” he stated.

He explained that the inclusion of the OCI losses also helps explain why the Bank of Ghana’s negative equity position worsened sharply from GHS58.62 billion in 2024 to GHS93.82 billion in 2025.

Dr. Boako further argued that the central bank’s financial position would appear even worse if revenue generated from gold sales was excluded. According to him, the Bank of Ghana earned GHS9.57 billion from the sale of 18 tons of gold, which he described as non-operational income.

He claimed that without the gold sale proceeds, the central bank’s total losses for 2025 would rise to approximately GHS44.52 billion.

The lawmaker accused the authorities of focusing public attention only on the operational loss figure while downplaying the OCI losses.

“This is way beyond the Majority propaganda by announcing operating loss of GHS15.6 billion. They quietly pushed away the huge loss of GHS19.32 billion sitting in OCI,” he said.

He also pointed out that in 2024, the Bank of Ghana recorded a gain of GHS4 billion in OCI rather than a loss, making the 2025 development more concerning in his view.

Dr. Boako has consistently commented on the financial health of the Bank of Ghana in recent years. Months before the release of the latest financial statements, he had already suggested that the central bank was carrying significant financial losses which would eventually become evident when the official accounts were published.

The Bank of Ghana is yet to publicly respond to the latest claims made by the Tano North MP.