We’ve not conspired with any operatives to transfer funds offshore – BoG

The Bank of Ghana has debunked allegations by the Director of Research at the Ghana Trades Union Congress (GTUC), Dr. Kwabena Nyarko Otoo that it is collaborating with some operatives at Cow-lane in Accra to illegally transfer funds offshore.

The Central Bank says it vehemently denies the said allegations and also considers them extremely reckless.

“We would have expected that such strong allegations would have been supported by the requisite evidence, and not left at pure conjecture, mere suspicion or hearsay. This is especially so considering the quarters from which the allegations were made”, it pointed out.

Dr. Kwabena Nyarko Otoo according to the BoG passed the unfortunate remark about the Central Bank on Newsfile on Joy News TV/Joy FM on Saturday, 29th October 2022.

“We advise the general public to completely disregard these comments and be assured that we, as a Central Bank, are focused on our mandate of price stability, and doing all within our power to reduce the rising general level of prices. We are doing this guided by our core values of accountability, professionalism and integrity, and in accordance with law”.

The Bank of Ghana also noted that it is working with other stakeholders including law-enforcement agencies to discourage and sanction persons who engage in illegal foreign exchange activities in the country.

The Central Bank, however, “advises the public to desist from making any such unfounded allegations in the future and to crosscheck same with Bank of Ghana”.