Dr. Kwabena Nyarko Otoo
THE BANK of Ghana has denied allegations by the Director of Research at the Trades Union Congress (GTUC), Dr. Kwabena Nyarko Otoo, that the Bank of Ghana is collaborating with some operatives at Cowlane in Accra to illegally transfer funds offshore.
“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.
According to the BoG, Dr. Nyarko Otoo passed the unfortunate remark about the Central Bank on News File on Joy News TV/Joy FM on Saturday, October 29, 2022.
The Central Bank, therefore considers the said allegations extremely reckless.
“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 BoG statement said.
The Bank of Ghana also stated that it is also working with law enforcement agencies and other stakeholders to discourage and punish people involved in illegal foreign exchange business in Ghana.
“Finally, we advise the public to desist from making any such unfounded allegations in the future and to crosscheck same with Bank of Ghana,” it added.
BY Ebenezer K. Amponsah