In a heated controversy over the Bank of Ghana's recent write-off of a GH¢32 billion debt owed by the Government, Member of Parliament (MP) for the Bolgatanga Central Constituency, Hon. Isaac Adongo, has issued a stern warning to Finance Minister Ken Ofori-Atta and Bank of Ghana (BoG) Governor Ernest Addison.
Adongo, who is known for his financial acumen, hinted that the NDC, upon assuming power, would arrest and prosecute these officials for breaching the law.
Adongo argued that the decision to write off such a colossal debt without parliamentary approval is a violation of the Bank of Ghana Act.
He emphasized that the law requires any debt write-off to go through Parliament for scrutiny. Therefore, the recent write-off was a mere imagination and called for accountability.
He pointed out that once the NDC takes control, it will hold the implicated officials accountable for their actions.
However, he acknowledged that the NDC is cautious in choosing its battles, as taking legal action against powerful individuals in the current government would be a challenging endeavor.
The Bank of Ghana announced the write-off through the implementation of the Domestic Debt Exchange Programme (DDEP).
Nevertheless, the Minority in Parliament disputed the move, arguing that parliamentary approval was necessary for such actions.
In response to the accusations, the Bank of Ghana defended its actions, asserting that no wrongdoing occurred during the debt write-off.
However, the controversy continues to intensify, with the NDC firmly committed to seeking accountability and justice for what they consider a breach of the law.