Sammy Gyamfi Challenges Kojo Oppong Nkrumah Over BoG Loss Claims

Lawyer and National Communications Officer of the NDC, Sammy Gyamfi, has accused former Information Minister Kojo Oppong Nkrumah of misleading Ghanaians over his interpretation of the 2025 audited financial statements of the Bank of Ghana.

In a strongly worded Facebook post, Mr Gyamfi said Mr Oppong Nkrumah’s recent attempt to defend his analysis of the Bank’s financials only exposed what he described as inconsistencies and dishonesty in the opposition politician’s earlier claims.

According to Mr Gyamfi, Mr Oppong Nkrumah had initially stated during a press conference on May 3, 2026, that the “true operating loss” of the central bank for 2025 stood at GH¢34.9 billion, and further suggested that the figure could rise to GH¢44 billion if proceeds from gold sales were added back.

However, Mr Gyamfi argued that the claim was inaccurate and based on what he termed “voodoo mathematics,” insisting that the actual operating loss captured in the audited profit and loss statement of the Bank was GH¢15.6 billion.

He maintained that Mr Oppong Nkrumah was now attempting to shift the discussion from “operating loss” to “total loss” after facing criticism over his earlier interpretation of the figures.

The NDC communicator also challenged the former minister to publicly compare similar financial indicators across previous years instead of mixing operating losses with total comprehensive losses.

Mr Gyamfi stressed that the Other Comprehensive Income statement referenced by Mr Oppong Nkrumah mainly reflects unrealised revaluation gains, losses and exchange differences, which he argued should not be treated as operating losses when assessing the financial health of the central bank.

He concluded by urging Mr Oppong Nkrumah to apologise to Ghanaians for what he described as misleading claims, while also inviting him to a public debate on any media platform of his choice to further discuss the matter.