Tuesday's parliamentary session was marked by the National Democratic Congress (NDC) Minority Caucus wearing black and red clothes to symbolize their "mourning of Ghana's prolonged economic catastrophe."

At a news conference in the House, Dr. Cassiel Ato Baah Forson, the ranking member of the parliament's finance committee, explained that everyone was wearing black and red because they were lamenting Ghana's democracy and the situation of the country's economy.

"Our economy is in such horrible health that if caution is not exercised, we will crash it to a point beyond recovery.

And for that reason, we have chosen to lament it while also making it clear to the government that we won't back down, he said.

“The economy is our livelihood, we will stand firm for the people of Ghana, because they deserve it. We think the people of Ghana have done no wrong to deserve this kind of treatment and mismanagement, coupled with ineptitude.”

Dr Forson reiterated the Minority Caucus’ call for the Minister of Finance, Mr Ken Ofori-Atta, to be relieved of his post.

He said they had filed a motion on the floor of Parliament for his impeachment.

Dr Forson, who outlined the seven reasons why the Minority was calling for the removal of the Finance Minister alleged a conflict of interest, claiming the Minister was “directly benefiting from Ghana’s economic woes with his companies taking undue advantage of the system, particularly, from Ghana’s debt overhaul”.

Secondly, he alleged that there were withdrawals from the Consolidated Fund in contravention of Article 178 of the 1992 Constitution and the Petroleum Management Act for the construction of the National Cathedral.

Dr Forson alleged there were illegal payments of oil revenues into offshore accounts in violation of Article 176 of the 1992 Constitution and the Public Financial Management Act, as well as the Petroleum Revenue Act (Act 815).

“The fourth is misreporting of figures to Parliament, where he decided to account for expenditure as amortization and setting expenditure as foot note in the financial reporting standard, contrary to global financial reporting standards,” he said.

He said “fiscal recklessness” was obviously leading to the crash of the Ghanaian cedi making it one of the worst performing currencies.

Dr Forson criticised the managers of the economy, saying their “incompetence” and “gross mismanagement” of the economy had brought untold hardships on Ghanaians.

“Colleague, we can’t do this alone, we need the majority to support us to do this. We need to assist the President to make sure that this happens.”

He suggested that new leaders be appointed to head the Economic Management Team and the Bank of Ghana to offer alternative solutions.