The Minority in Parliament has expressed its intention to subject recent expenditures by the Bank of Ghana (BoG) to a value-for-money audit.

The Central Bank's 2022 statement revealed significant losses amounting to over GHȼ60 billion.

Some of the expenses that the Minority plans to scrutinize include the BoG's spending of almost GHȼ70 million on computer-related expenses, GHȼ131 million for motor and vehicle maintenance, and GHȼ97 million for foreign and domestic travel, among other items.

The acting Ranking Member on the Finance Committee, Isaac Adongo, stated that a future NDC government will investigate these expenditures to understand the reasoning behind such allocations.

He questioned the appropriateness of spending GHȼ33 million on communication and GHȼ97 million on travel expenses, indicating that a value-for-money audit would shed light on these financial decisions.

“I want to tell Dr Addison that in the future, we will subject these numbers to value-for-money audit. We will understand how it is that it is reasonable to spend 33 million cedis on communication. How reasonable it is for you to spend 97 million on travels? We will perform a value-for-money audit, of the finances of the Bank of Ghana,” he said.

Furthermore, Mr. Adongo called on Parliament to assert its influence and carry out its supervisory role effectively. He also raised concerns about a reported write-off of debt owed by the government, asserting that such an action should only take place with the approval of Parliament through a resolution.

The MP for Bolgatanga Central emphasized that the Bank of Ghana must be held accountable under section 53 of the Public Financial Management Act.

The Minority's position is based on their belief that the central bank's actions have been evading parliamentary oversight over the country's public finances, potentially affecting fiscal and monetary policies.