The Bank of Ghana has responded strongly to claims made by Samuel Okudzeto Ablakwa, a Member of Parliament, about a $20 million transfer to the central bank that he says lacked proper documentation. In a statement, the Bank of Ghana criticized Ablakwa for making these allegations public, suggesting that doing so could compromise security.
Ablakwa had raised concerns that $20 million was transferred to the Bank of Ghana, contrary to the bank’s assertion that the money was intended for the Central Bank of Liberia. He posted on social media that the paperwork surrounding the transaction was inconsistent, suggesting a lack of transparency.
The Bank of Ghana clarified that the $20 million was indeed meant for the Central Bank of Liberia. The bank explained that, since 2004, there has been an agreement between Ghana and Liberia where the Bank of Ghana receives imported currency on behalf of the Central Bank of Liberia for safekeeping and re-export to Liberia once all arrangements are finalized. According to the Bank, these are standard procedures, including informing relevant authorities about the currency’s arrival and departure.
The central bank also expressed disappointment over Ablakwa’s decision to circulate sensitive documents, arguing that his actions could mislead the public and damage the trust between Ghana and Liberia. The Bank emphasized that this long-standing arrangement with Liberia reflects a strong partnership and mutual trust between the two countries.
Ablakwa, however, remains skeptical and stated that he would continue monitoring the situation to ensure the money is indeed transferred to Liberia as claimed. He shared various documents, including one from the Bank of Ghana instructing the Ghana Revenue Authority to clear the funds and another document he claims shows that the Bank of Ghana, not Liberia, is the actual recipient of the money.
The controversy has stirred a debate about transparency and the handling of sensitive transactions involving public institutions. While the Bank of Ghana insists it has followed all the proper protocols, Ablakwa’s vigilance suggests there could be more to the story. The public and stakeholders are closely watching to see how this issue unfolds.
Source: Ghana Web
