Dr. Bra Kojo Addo

Dear Hon. @konkrumah My attention has just been drawn to a Facebook post of yours which purports to respond to my submission on yesterday’s edition of the KEYPOINTS show on @tv3_ghana about your deceptive analysis of the 2025 audited financials of the Bank of Ghana (BoG). At the second paragraph of the said Facebook post, a snapshot of which is attached herewith, you claim that that “the BoG recorded a TOTAL LOSS of GHS34.9bn”. But Kojo, was this the claim you made at your press conference of Sunday, 3rd May 2026??? The answer is a big fat NO. Your attempt to justify the falsehoods you peddled about the 2025 audited financial statements of the BoG by shifting the goal post, is rather exposing your dishonesty. Since you will never accept to debate me on this issue on any media platform, for fear of being exposed, as your custom is, I will proceed to respond to you here. Kojo, in your press statement of Sunday, 3rd May, 2026, you stated that: 1. The “TRUE OPERATING LOSS” of the BoG for 2025 was 34.9 billion cedis. No where in your press statement did you say that “total loss” (total comprehensive income) of the BoG for 2025 was 34.9 billion cedis as you are suggesting now. Throughout your press statement you made the point, that the 34.9 billion loss figure you put out, related to “operating loss” of the BoG for 2025. Don’t shift the goal post now Chief. 2. You further stated in your press statement, that the “TOTAL OPERATING LOSS” of the BoG for 2025 was actually 44 billion cedis; a false claim you now appear to have completely abandoned after your voodoo analysis was exposed. Find below a direct quote from the press statement you read and released to the media on Sunday 3rd May, 2026 to refresh your memory. I have also attached a screenshot for ease of reference. “The Government and its spin doctors led by the NDC party officials who did the Press Conference, are trying to convince the people of Ghana that the loss is GHS 15.6 Billion. We regret to tell the people of Ghana that this is not true. The true Operating loss of the Bank is actually GHS 34.9 billion Cedis. And In fact, if you add back the GHS 9.6 billion proceeds from the Gold Sales (which was hurriedly done to reduce the loss as at September) the recalculated loss is actually GHS 44 billion.” “As they always say, the cover up is worse than crime. The attempt to cover up the true operating loss of the bank is what is most troubling. The BOG has employed a combination of artificial revenue recognition on one hand, and clever accounting standards on another hand in their attempt to cover up this loss.” “The proof of this can be found on Page 16 of the Accounts where they report the consolidated income of the Bank. On that page, the bank admits that in addition to the GHS 15.6 billion Headline they have reported, they have also made an additional loss of GHS 19.3 Billion in other comprehensive income. GHS 15.6 + GHS 19.3 = GHS 34.9 (approximately GHS 35 billion). And if you add back the sold Gold it is GHS 44 billion loss.” End of quote. Kojo, I am sure that after reading this quotation of yours, you will accept the fact that you lied to the good people of Ghana about the true OPERATING LOSS of the BoG for the year 2025 and apologize for the voodoo mathematics you engaged in. I maintain that the “operating loss” recorded in the audited financials of the BoG for the year 2025 is GHS15.6 billion. And that, the audited income statement (P&L) is what is relevant in assessing the financial health of the Bank, and not the Other Comprehensive Income statement, that mainly captures unrealized revaluation gains/losses and exchange differences. My brother KON, you lied! Apologize and let’s move on. But if you want to litigate this matter further, stop responding to me on Facebook. You are welcome to select any media platform of your choice and a date and time of your convenience for a debate.

I understand your intention to turn this into a contest between us. You want to divert attention from the Bank of Ghana’s substantial loss of GH¢34.9 billion and your party’s broken promise of financial discipline at the Bank of Ghana. However, we in the minority will not be swayed by these distractions.   Regarding your post, let’s address your points directly: 1. You want to distinguish between “operating loss” and “total comprehensive loss,” as if they are not real losses borne by the same Ghanaian taxpayer. However, the Bank of Ghana itself, on page 16, combines both figures and reduces its net equity by the full GH¢34.9 billion, not GH¢15 billion. The central bank’s own balance sheet has already settled this issue, which you are still trying to litigate. Whoever briefed you did you a disservice. 2. The total loss I talked about is not foreign in accounting and not voodoo. Up until 2024, all BoG accounts were prepared  by putting all these gains and losses in OCI in the P&L. That is the international standard. The NDC government reverted this in the 2024 account and excluded it from P&L and put it in OCI. Reason why KPMG gave an opinion that the accounts were prepared in line with the institution’s own standards and not the IFRS. Do you understand the implication of this opinion of KPMG? This also means that the performance of the p&L in 2024 and 2025 cannot be compared to the periods prior to 2024 unless and until one combines the P&L and OCI. It is only the uninitiated who will call this voodoo. 3. You also mentioned lies. - On January 3rd, 2026, you stated emphatically on Newsfile that, there were no losses. You dismissed Ghanaians who pointed to losses as “dreaming or hallucinating.” This was a lie. Today, you are conceding to the GHS 15B portion of the loss. So, who is lying here? - In 2018, you called a KPMG report “bogus, one-sided, and inconclusive.” In 2026, you claim that only KPMG can be trusted. It seems that you lack a principled position. The same firm, different positions. That is dishonesty. - You claim to welcome a probe, yet you have  been evading a Parliamentary investigation into the Gold losses of billions of cedis since March 27th. Why have your majority members in Parliament been obstructing all the probes? Your lies will be exposed if you are brave enough to appear under oath in a Parliamentary Inquiry where documents will be presented and scrutinized. - You deny that GoldBod off-taker fees were documented by the IMF, but the Fund has not retracted its findings. Who is the liar here? Is it Sammy Gyamfi or the IMF? .You have told four lies on this matter alone, Sammy. Before you demand an apology from any MP, you owe Ghanaians four of your own.   4. The Bank of Ghana’s 2025 accounts are not the responsibility of GoldBod’s CEO or the NDC’s National Communications Officer. They belong to the Minister for Finance, who must present them to Parliament. Since you are aware of the mess you have caused, you have chosen to evade official probes and hide behind sponsored platforms where you can have a field day. If a debate is necessary, Ato Forson should step forward. He has the responsibility, integrity, and competence to do so. Not you, my friend. Until he does, answers are only required from you in a Parliamentary inquiry on the record and under oath. Stop wasting our time and show up. If you are as confident of your case as your posts suggest, be the loudest voice in your party today demanding that the inquiry I initiated on March 27th be allowed to proceed. Then we will see who is telling the truth and who is lying.   Have a happy Sunday, my friend @SammyGyamfi_

I understand your intention to turn this into a contest between us. You want to divert attention from the Bank of Ghana’s substantial loss of GH¢34.9 billion and your party’s broken promise of financial discipline at the Bank of Ghana. However, we in the minority will not be swayed by these distractions.   Regarding your post, let’s address your points directly: 1. You want to distinguish between “operating loss” and “total comprehensive loss,” as if they are not real losses borne by the same Ghanaian taxpayer. However, the Bank of Ghana itself, on page 16, combines both figures and reduces its net equity by the full GH¢34.9 billion, not GH¢15 billion. The central bank’s own balance sheet has already settled this issue, which you are still trying to litigate. Whoever briefed you did you a disservice. 2. The total loss I talked about is not foreign in accounting and not voodoo. Up until 2024, all BoG accounts were prepared  by putting all these gains and losses in OCI in the P&L. That is the international standard. The NDC government reverted this in the 2024 account and excluded it from P&L and put it in OCI. Reason why KPMG gave an opinion that the accounts were prepared in line with the institution’s own standards and not the IFRS. Do you understand the implication of this opinion of KPMG? This also means that the performance of the p&L in 2024 and 2025 cannot be compared to the periods prior to 2024 unless and until one combines the P&L and OCI. It is only the uninitiated who will call this voodoo. 3. You also mentioned lies. - On January 3rd, 2026, you stated emphatically on Newsfile that, there were no losses. You dismissed Ghanaians who pointed to losses as “dreaming or hallucinating.” This was a lie. Today, you are conceding to the GHS 15B portion of the loss. So, who is lying here? - In 2018, you called a KPMG report “bogus, one-sided, and inconclusive.” In 2026, you claim that only KPMG can be trusted. It seems that you lack a principled position. The same firm, different positions. That is dishonesty. - You claim to welcome a probe, yet you have  been evading a Parliamentary investigation into the Gold losses of billions of cedis since March 27th. Why have your majority members in Parliament been obstructing all the probes? Your lies will be exposed if you are brave enough to appear under oath in a Parliamentary Inquiry where documents will be presented and scrutinized. - You deny that GoldBod off-taker fees were documented by the IMF, but the Fund has not retracted its findings. Who is the liar here? Is it Sammy Gyamfi or the IMF? .You have told four lies on this matter alone, Sammy. Before you demand an apology from any MP, you owe Ghanaians four of your own.   4. The Bank of Ghana’s 2025 accounts are not the responsibility of GoldBod’s CEO or the NDC’s National Communications Officer. They belong to the Minister for Finance, who must present them to Parliament. Since you are aware of the mess you have caused, you have chosen to evade official probes and hide behind sponsored platforms where you can have a field day. If a debate is necessary, Ato Forson should step forward. He has the responsibility, integrity, and competence to do so. Not you, my friend. Until he does, answers are only required from you in a Parliamentary inquiry on the record and under oath. Stop wasting our time and show up. If you are as confident of your case as your posts suggest, be the loudest voice in your party today demanding that the inquiry I initiated on March 27th be allowed to proceed. Then we will see who is telling the truth and who is lying.   Have a happy Sunday, my friend @SammyGyamfi_

Patients don't need to lie on a physical bed before receiving medical attention... - Godwin Mahama Ayaba (Government Spokesperson) #StarrFM #GHOneNews #EIBNetwork #GHOneTV #NewsAlert