The Chairman of Parliament’s Economy and Development Committee, Eric Afful, has dismissed suggestions that there is an attempt to shield the Bank of Ghana (BoG) from public scrutiny, insisting that the central bank’s operations must be handled with transparency and accountability.
The Amenfi West Member of Parliament (MP) in an interview on Adom FM Dwaso Nsem said the Bank of Ghana is an independent institution and does not operate as a government ministry or agency, although the government remains a stakeholder.
His comments follow controversy in Parliament on Wednesday after the Minority Caucus staged a walkout when the Governor of the Bank of Ghana, Dr. Johnson Asiama, appeared before the House.
The Minority had raised concerns over the circumstances surrounding the Governor’s appearance and demanded greater accountability from the central bank.
Speaking on Adom FM’s Dwaso Nsem, Mr. Afful said Parliament’s Standing Orders allow ministers and heads of statutory bodies to appear before the House to answer questions, but noted that the structure of the Bank of Ghana requires a different approach because of its independence.
“We are not hiding anything from the media or from Ghanaians regarding the operations of the Bank of Ghana. The BoG is an independent body. It is not under government, even though government is a stakeholder,” he said.
According to him, the central bank is not an institution that the government can directly control or intervene in its operations.
“It is not a ministry or an institution where the government is directly involved for government to come and protect the bank. We need to be truthful with Ghanaians,” he added.
Mr. Afful explained that Parliament has the authority to engage statutory bodies, but the process of holding the Bank of Ghana accountable must take into consideration its legal independence.
“The parliamentary standing orders allow ministers and statutory bodies to appear and answer questions. But the case of the Bank of Ghana is different because it is not a direct governmental appointee,” he stated.
The comments come amid ongoing debate over parliamentary oversight of the central bank, with the Majority maintaining that the BoG must be allowed to operate independently while still being accountable to the Ghanaian public.
The Minority, however, has insisted that the Bank of Ghana must be subjected to stronger parliamentary scrutiny, particularly on issues concerning its management and financial decisions.
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