The escalating dispute over the Bank of Ghana’s 2025 financial statements deepened on Sunday after opposition lawmaker Kojo Oppong Nkrumah accused GOLDBOD Chief Executive Sammy Gyamfi of attempting to divert attention from what he described as the central bank’s “substantial” GHC34.9 billion loss.

In a detailed response posted on social media, Oppong Nkrumah rejected accusations that he had misrepresented the Bank of Ghana’s accounts and defended his interpretation of the figures contained in the central bank’s audited statements.

“You want to divert attention from the Bank of Ghana’s substantial loss of GHC34.9 billion and your party’s broken promise of financial discipline,” the Ofoase-Ayirebi MP wrote.

The latest exchange follows an earlier statement by Gyamfi, who insisted that the Bank of Ghana’s audited operating loss for 2025 stood at GHC15.6 billion and accused Oppong Nkrumah of misleading the public by conflating operating losses with broader comprehensive losses.

Oppong Nkrumah, however, argued that the central bank’s own balance sheet reflected a reduction in net equity of GHC34.9 billion, saying the distinction between operating loss and total comprehensive loss did not change the financial burden ultimately borne by taxpayers.

“The Bank of Ghana itself, on page 16, combines both figures and reduces its net equity by the full GHC34.9 billion,” he stated.

He further argued that changes in accounting treatment introduced from 2024 complicated direct comparisons between recent and earlier Bank of Ghana financial statements.

According to him, previous accounts had treated gains and losses now recorded under Other Comprehensive Income (OCI) differently, and combining profit-and-loss and OCI figures was necessary to make meaningful historical comparisons.

Oppong Nkrumah also broadened the dispute by accusing Gyamfi of inconsistencies in earlier public positions regarding Bank of Ghana losses, KPMG’s credibility, and parliamentary investigations into alleged gold-related losses.

He challenged Gyamfi to support a parliamentary inquiry into the issues, arguing that official scrutiny under oath — rather than media exchanges — was the proper avenue for resolving the dispute.

The Bank of Ghana has not publicly commented on the latest round of accusations.

The disagreement has become one of the most prominent political and financial debates in Ghana in recent weeks, reflecting broader tensions over fiscal transparency, public accountability and the interpretation of state financial records.

Kojo Oppong Nkrumah and Sammy Gyamfi remain at the centre of the growing controversy surrounding the Bank of Ghana.