The GH¢60 billion loss by the Bank of Ghana is enough to pay NABCO beneficiaries for 60 years - Edudzi Tameklo

Member of the Legal Team of the National Democratic Congress (NDC), Godwin Edudzi Tameklo, has indicated that GH¢60 billion loss by the Bank of Ghana (BoG) is enough for members of the Nations Builders Corp (NABCO) for six decades.

The Bank of Ghana in its 2022 report indicated that it made a staggering loss of about GH¢60 billion. The central bank argued that the loss is a result of the Domestic Debt Exchange Programme.

However, making an appearance on Accra-based TV3, Edudzi Tamekloe who is also a private legal practitioner, pointed out the significant impact the lost GH¢60 billion could have had on various government initiatives.

He criticised the government's inability to sustain the NABCO program due to a lack of funds, despite the reported GH¢60 billion allocation from the central bank.

“Bank of Ghana is telling us that they have declared over GH¢60 billion. Now, that GH¢60 billion loss is enough to pay for NABCO beneficiaries for 60 years. You will be paying for them every year for 60 years.

“The reason the government of Ghana was not able to sustain the NABCO program is because of the lack of funds and we are being told the GH¢60 billion was given to the government of Ghana and more. And with all that amount of money, we are not able to sustain NABCO,” he said.

Edudzi Tamekloe further questioned the transparency and accountability in the management of such a substantial amount of money, particularly when it could have been channeled to support vital government programs like NABCO.

“As we speak, the government of Ghana is indebted to NABCO trainees. So where did the GH¢60 billion go, where is the money?” he questioned.

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NW/WA

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