Hon Dr Forson must apologies to the Citizens and Governor for unwarranted Demo against Bank of Ghana – for failing to take note of Article 183 of the 1992 Constitution, the emergency powers granted by combined effect of Section 19 of Bank Ghana Act 2002 (Act 612) and Section 3 of the Fiscal Responsibility Act 2018 (Act 982) in line with Article 183 of the 1992 Constitution hence resultant negation of any other law.
MAJOR MOHAMMED BOGOBIRI (RTD)
Dear Minority Leader.
Greetings to you, your family and Members of your Caucus. I pray this letter reaches you in your good mode Sir.
First of all, let me reduce any stress, by amusing you and your cohorts especially Hon Sam George and others that reckless actions by Hon Members of Parliament especially from the Minority Group may motivate the National watchmen to overthrown the 1992 Constitution just as their fellow Watchman namely Flight Lieutenant JJ Rawlings and his cohorts did by overthrowing the Constitution of 1979 on 31 December 1981 which anchored the Third Republic.
He later formed, the NDC to participate in the governance system in a Democratic Dispensation as provided by the 1992 Constitution which anchors the Fourth Republic which is envisaged to be under threat by detractors with their prayer for a Coup.
One can therefore confidently say that the NDC is a watchman’s Party who later accused some of his Party fellows as baby with sharp teeth hence it implied that he failed to give his party members proper discipline hence the reckless actions of some of the young member of the Party he himself dubbed as babies with sharp teeth, which act reared its ugly head in the recent demo..
Let me remind you and your cohorts that once a Soldier always a Soldier, so on behalf all watchmen, let me give a promise to Hon Mr Sam George and others that in event of a successful Military Coup, we the Watchmen will show that we are indeed Watchmen. We will proscribe all political parties and ensure that all Hon Members of Parliament past and present and their spouses/their side-chicks past and present, Members of the executive past and present and their spouses past and present/their side-chicks past and present past and their other associated citizens including pastors and their spouses past and present and their side-chicks past and present and mallams milking on the citizens are arrested and detained under our watch for them to account for their stewardship.
We will ensure no prostitutions and a curfew is from 5pm to 6am, one man one car, we will declare Emergency Food security to ensure no one sells a meal above GHC20.00 with VAT inclusive, closed down some TV and Radio Stations which do not deal with matters for effective national developments. We will ensure no all-night services, we will ensure church services should not be more than 3hours and other draconian measures.
You failed to show good leadership as was done by Hon Mr Haruna Iddrisu and his Team, when you allowed some of you members to make derogatory remarks that our colleague at BOG is a watchman. Let me tell you that not every persons are qualified to enter the Military or can be a soldier but every donkey (person) sound in mind can become a President of Ghana or Member of Parliament. Food for thought.
Let me add that, we will ban or disqualify all previous Members of Parliament, all Past Presidents, VPs and other Members of the Executive from taking part in Presidential, Parliamentary and District Administration elections nor allow them to occupy other Public Offices. Hence, a Coup in Ghana will give a death blow to the second coming of his Excellency ex-President Mahama, if that is your prayer Amen.
I hope my brother ex-President Mahama, the Leader of the NDC, who did a very good job by controlling the activities of babies with the sharp teeth immediately he took over on the death of the late President Mills is monitoring the reckless tendencies by some citizens.
His Excellency Ex-President Mahama, needs to rise to the occasion to rein or halt the perceived reckless acts especially by persons dubbed as Hon MPs who have governance tools or delegated powers from the citizen to deal with national matters including the Dialysis problem on their behalf.
Among other tools by debating, checks/.scrutiny raising questions, summoning or making a statement on the Floor for the admission by the Speaker and for appropriate action otherwise by visiting members of the Executive including members of the Independent Executive Bodies to account for their acts etc.
Sir, a Unifying principle in the life of a Society for national cohesion as provided by God through the Holy Bible at Ezekiel 18. Stipulates that ‘The Righteous Man Does No wrong but judges fairly between Parties’’. Among others, this provision by God implies that one with power must use it in a rightful way. Hence, Military Officers, not below the rank of Major, Senior Police Officers, Pastors, MPs are dubbed as Notary Public or Honourable Members of Society for the endorsement of documents of people, hence permissible for them to use title Hon before their names, hence Dr Ato Forson as Member of Parliament is a Righteous person or be regarded as such. So he deserved to be called Hon Dr Ato Forson, so, you are expected to conduct yourself in a rightful way including judging and acting fairly.
Sir, as a Righteous person, I wish you will take time to read through this submission with an open and good mindset for you to appreciate on the need to improve on your Parliamentary leadership in the Fourth Republic which is anchored by the 1992 Constitution. A Constitution which you and other Members of Parliament collectively took an oath of Allegiance to preserve, uphold, protect and defend it at all times as Hon MP of the State of Ghana, so with the Oath of office you are to work in the name of Parliament of Ghana as Minority Group and so not in the interest of a Political Party, hence NDC, which can do so freely and individually without the group tag of Minority Group.
Our noble Constitution unlike that of Nigeria allows for Independent MPs etc. So, as Hon MP whether with or without paper qualification that is whether you are a Professor or a pupil Teacher you and others are accorded as Article 71 Public Policy Makers Office Holders and paid sufficient Compensation (please not ex-gratia as termed by populists) charged to the Consolidated Fund. Hence National Security must be your concerned.
Sir National Security includes the protection and defense of the 1992 Constitution, which is sine qua non for the security of the Fourth Republic which reigns has made you to be Hon MP and currently as the Minority Leader, hence one of the Leaders in Parliament, leading a group dubbed as Minority Caucus of Parliament and not of NDC.
Sir, you will agree with me that in a civilized society that hinges on democracy system, all persons are to use the various tools available in an orderly manner like the Use of Force Continuum. So persons dubbed as Honourable must be guided by or set a code of conduct for the younger generations to emulate.
Thus, the citizens representatives hence Hon MPs must use the various tools in the democratic governance system for Hon MPs in dealing with political questions to set very good examples for the younger generations to emulate.
MPs are expected to raise questions or problems in Parliament for the Speaker to admit for the appropriate actions. MPs may walk out in Parliament to depict a demonstration, another tool for MP is lobbying, others are contact or liaison or visits like what Hon Kwabena Mintah Akandoh of NDC did by visiting Korle Bu Hospital as Hon MP and not member of NDC to see to the problem of patients with matters of Dialysis.
As a leader in Parliament, you will agree with me that the Sanctity of Parliament through the Majority or the Minority Group of Parliament, an august House of noblemen and noblewomen must be sacrosanct or unchallengeable or unquestionable at all times. So at this point, I put to you that the seemingly disorderly mob including the Chairman of the NDC and babies with sharp teeth (courtesy of the Founder of the NDC), and others that assembled at Bank of Ghana failed the litmus test as the true reflection of the representatives of the people in the Parliament of Ghana from the Minority Group.
Sir the crowd at Bank of Ghana was rather on a NDC’s Jamboree or Campaign effort. Consequently, the reason why you did not use the rightful Constitutional, legal and Parliamentary tools as stated by the Governor of Bank of Ghana in response to the unwarranted demo.
Sir, I wish to draw your attention that acts which have the likelihood of motivating a military Coup for the overthrow of the 1992 Constitution by hooligans or lawbreakers must not be done in the name of Parliament, an august house which is a creature of the 1992 Constitution. So, please you need to render an apology to the patriotic citizens of Ghana and the Governor of Bank of Ghana for trying to use his Institution to wage a war against a Constitutional Body, as a subunit of the Fourth Arm of Government which mandate by Hon MP must be questioned by the application of the doctrine of separation of Powers with the associated Checks and Balances on the floor of Parliament or at the Supreme Court or by humble visit as was done by Hon Akandoh by his visit to Korle Bu hospital.
I recommend that if you want to do any act in the name of the august house of Parliament, then please use the tools available to Honorable Members of Parliament and not the tool of which is even of last resort available for aggrieved workers or Kejetia or Makola traders to resolve an impasse. So, please halt the unparliamentary acts in name of the Minority Group of Parliament under your leadership.
Sir, you are expected to be demonstrating good Statesmanship and leadership in Parliament by using parliamentary or governmental tools in dealing with administrative or political or economic or legal questions and not leading some of our Hon MPs on the street under the control of State ‘Watchmen’ mixed with head porters whose only tool available for dealing with issues affecting their group is demonstration as granted by the Constitution to be done in the public domain to attract corrective action or to gain public support or sympathy.
The Bank of Ghana Saga
Let me remind you that the people of Ghana also delegated executive Powers to other Constitutional Creatures or Bodies like the Bank of Ghana, CHRAJ, EC, NCCE etc. collective as the Fourth Arm of Government in Democracy or Political Science. Hence, the traditional lateral Arms of Government and the Fourth Arms of Government are co-equal and are to be governed by the Principles of Separation of Powers with the associated Checks and Balances as well as by the Dogma of the 1992 Constitution which is Probity, Transparency and Accountability.
As a Minority Leader or Hon MP you certainly have good understanding of the provision of the Constitution of Ghana especially on Bank of Ghana as at Article 183 as enacted by the People of Ghana in a Referendum in 1992 and the laws of Ghana passed by Parliament including Section 19 of the Bank of Ghana Act 2002 (Act 612) and Section 3 of the Fiscal Responsibility Act 2018 (Act 982) which you are required to obey, protect, upheld, and protect.
Please, I hear people always making ugly noises that the Governor failed to abide by section 30 of Banking of Ghana Act 2016 (Act 918), let me confidentially say that with respect to fiscal policy support to the Government by the Bank of Ghana, the section 30 of the Bank of Ghana Act 2016 (Act 918) in event of emergency or force majeure situation is irrelevant law or a garbage law.
Sir, your attention is draw to the relevant laws that were used by the Finance Minister and Bank of Ghana effective 2020 were Article 183 of the 1992 Constitution, Section 19 of Bank of Ghana Act 2002 (Act612) and Section 3 of the Fiscal Responsibility Act 2018 ((Act 982).
Sir, Section 30 of Bank of Ghana Act 918 of 2016 is an ambiguous law which deals with normal situation and did not speak of what must be done in event of emergency situation.
You need to understand the history of Bank of Ghana Act 2016 (Act918) which so much ugly noises, have been made by you and your cohorts and continue to be talking of without a critical mindset. Let me make it clear that section 30 of Bank of Ghana Act 2016 (Act 918) was mainly of 19 amendments and 8 insertions of the parent or original law that is Bank of Ghana Act 2002 (Act 612).
You need to understand that the framers of Bank of Ghana Act 2016 (918) in 2016 only attempted to effect changes in Bank of Ghana Act 2002 (Act 612) both in mind is the original mandate of Bank of Ghana as at Article 183 of the 1992 Constitution, so the framers declined to Amend Section 19 of Bank of Ghana Act 2002 (Act612) and thus granted to the Governor of Bank of Ghana 100% or unreserved or unilateral Emergency powers to act with alacrity in event of Emergency to prevent the Collapse of the Economy.
So effective 2020, Governor Dr Adson duly complied with Article 183 of the 1992 Constitution and section 19 of the Bank of Ghana Act 2002 (612) which granted him Emergency powers whilst the Minister of Finance duly complied with the Fiscal Responsibility Act 2018 (Act 982). So effective 2020 Section 30 of Bank of Ghana Act 2016 (2018) was not a relevant law, my friend will say it was thrown into the basket due to the conflict laws of Ghana.
Sir as righteous person, you need to take time and read these stated constitutional and legal provisions with a sound judgment on the matter and you will see that as a gentleman Hon MP, you have to render apology to the electorate and the Governor of Bank of Ghana for Hon MPs from the Minority group for the unwarranted demo and ugly noises or by acts which appeared reckless with unparliamentarily conduct and failing to obey the Constitution of Ghana, laws of Ghana passed by Parliament in 2002 and in 2018. These were the laws used by the Governor of Bank of Ghana and the Finance Minister.
For the avoidance of doubt, let me say that from my research since the details are in clear English language to the understanding of a pupil of JHS. A JHS pupil who is writing a paper on the fiscal policy laws of Ghana with regards to Bank of Ghana, especially in event of internal disaster, or external disaster or both or Emergency Declaration, the relevant laws are Article 183 of the 1992 Constitution, the Section 3 of the Fiscal Responsibility Act 2018 (Act 982) in conjunction with Section 19 of Bank of Ghana Act 2002 (Act 612).
The Fiscal Responsibility Act 2018 (Act 982), provided for the fiscal responsibility rules to ensure macroeconomic stability and debt sustainability and to provide for related matters. Hence in event of emergency, Bank of Ghana must comply with these laws without hesitation because that is the wisdom of the framers of the Constitution of Ghana and the
Bank of Ghana Acts.
Let me bring to you attention that Section 3 of the Fiscal Responsibility Act 2018 (982) passed by Hon Dr Ato Forson and others in 2018, is very clear so it speaks of the Suspension of fiscal Responsibility rules as follows;
Subsection (1) Section 3 of Act 2018 (Act 982). That the Minister may suspend the fiscal responsibility rules due to a situation of force majeure or unforeseen economic circumstances or both including (a) natural disaster, public health epidemics, drought or war where a state of emergency has been declared by the President under article 31 of the Constitution. Hence in event of disaster the Minister of Finance is to invoke this law of Subsection (1) Section 3 of Act 2018 and Act 982 and suspend everything or laws on the fiscal policy of Ghana and rely on the provision of the 1992 Constitution and validate the suspension and actions within 30 days.
The Governor too can independently invoke Section 19 of Bank of Ghana Act 2002 (Act 612) which grants unilateral emergency powers to the Governor of Bank of Ghana to act with alacrity in event of Emergency or Force Majeure Situation. Take note that the Emergency Declaration by the President due to the COVID-19 was lifted in 2023. Hence the suspension remained enforce till 2023. So in 2023 Hon Mr Osafo Marfo called for the amendment of the Fiscal Responsibility Act 2018 Act 982), You may confirm this by Google for Mr Safo Marfo calls for the Amendment of the Fiscal Responsibility Act 2018 (Act982). This what we expect you people in Parliament should be dong as recommended by Mr Osafo Marfo not Hon MPs as a group on the street demo under the direction of Watchman what a very big disgrace to the august House.
From the above details, a JHS pupil can conclude that the Governor of Bank of Ghana was not required to go to Parliament or send notification to Parliament, no meeting with the Comptroller General and also no requirement of threshold was provided by Members of Parliament with their eyes opened, fifili. Hence, all members of Parliament especially Hon Dr Ato Forson and his cohorts slept on their job. So if any person is to resign, is the Minority Leader and his cohorts for sleeping on the job as per the observation of Hon Mr Osafo Marfo that if you people claim of any wrong doing.
The ugly noise about the Governor notifying Parliament only deals with normal situation. Let me repeat the word notifying Parliament is not grounded in any law of Ghana when there is an emergency and also not going to Parliament was not grounded on any law of Parliament of Ghana which requires the Governor to act as alleged.
You may now agree that you need to render apology to the Governor since the above-mentioned details has made the so called Section 30 of the Bank of Ghana Act 2016 (Act 918) as far as the fiscal Policy is concerned as irrelevant, the better word is garbage because the said section 30 does not need the attention of the Governor of Bank of Ghana.
At this juncture, one may ask whether Parliament in 2018 was aware of an impending disaster of Global Pandemic of COVID-19 pandemic or a force Majeure situation will occur in 2019, so the MPs rushed in 2018 and enacted the Fiscal Responsibility Act 2018 (Act 982) without stating a threshold lower or upper. And not speaking of the punishment for breaking this law which thus called for the amendment as recommended by Mr Osafo Marfo. So Hon Dr Ato Forson, you owe the citizens, the Governor of Bank of Ghana and his Deputies an apology.
I hope you can now see that the ugly noises on Section 30 of Bank of Ghana Act 2016 (Act 918) concerning the fiscal policy that you and your cohorts have been making and thought that the Governor must copy or act with was incorrect. Implying that Hon Members of Parliament are not aware that Parliament has passed conflicting laws. So an apology is needed.
GHC60.8Billion debt including loan of Komenda Sugar Factory.
Dr Forson, let me educate you on the GHC60.8 Billion saga. The Government of Ghana on behalf of the Citizen’s owns Bank of Ghana (BOG). BOG holds the Account of the Government or the Citizen of Ghana and the IMF can only grant Ghana a bail out as recommended in March 2022 by Ex-President Mahama this is contingent on if and only if, Ghana through Bank of Ghana can reduce the Public debt accumulated since 1992 thus including the loan for the poorly effective or operative of the Komenda Sugar Factory approved by Parliament and others from the 110% considered as unsustainable level to a debt sustainable level of 55% to buy the bailout f2024rom IMF.
Dr Addison and the two Deputies in order to protect and defend the 1992 Constitution, which anchors the Fourth Republic, so as to ensure Hon Dr Ato Forson and others keep their jobs as Hon MPs and others, as well as to help keep alive the second coming bid of Ex-President Mahama for him to compete with his younger brother namely VP Dr Bawumia in the Northern Showdown Battle in the 2024 Presidential Election, had to use emergency tools to prevent the collapse of the economy of Ghana.
This noble acts by the Governor which prevented the likelihood of Military Coup, among others involved accounting process with GHC55.1Billion (out to GHC60Bllion) from the Balance sheet of Bank of Ghana in accounting terms or system to clear the accumulated Public debts of Ghana since 1992, thus it included the wasteful Komenda Sugar Factory and others debts in the books of Government with the Bank of Ghana.
The Bank disclosed the breakdown of the GHC60.8Billion as due to marketable stocks of government amounted to GHC16 Billion and non-marketable instrument of government amounted to GHC32.3 Billion (toxic waste or bad debts ) held in the books of Bank of Ghana since 1992 plus Bank of Ghana’s exposure to Bills of COCOBOD amounting to GHC4.7 Billion, also built over the years since 1992, so, as the result of the Domestic Debt restructuring, Bank of Ghana had to pay the price for Public good (stability of the Fourth Republic) when the Bank served as the loss or shock absorber of the entire debt exchange program.
This was so, in order to meet the threshold for the approval of the IMF bailout program, So BOG took 80% haircut on a total principal which stood at GHC64.5 Billion, at the time of the Domestic Debt exchange based on the cedi and dollar exchange rate then.
Finally, on posting to the General Reserve Account, resulted in the overall negative equity of GHC55.1 Billion which everyone has been talking about as if it is separate or not part of the GHC60.8 Billion.
The Bank of Ghana also had a technical loss of GHC6.9 Billion in 2022 when the Cedi to dollar rate reached GHC1 to $15.00 in 2022 due to internal shocks and external shocks occasioned especially by fuel importation/purchase and our penchant for foreign goods. Considering Ghana importing over $2Million worth of tomatoes every month from Burkina Faso, over $2Million worth of Onion from desert Niger every month, over $1.5Billion on importation of Rice every year, not talking of $450million of fuel every month, over $1Billon for importing fish, so much dollars in the importation of second hand goods (broni wawu) including sexy pants . So much is spent on power etc.
Sometimes people make wrong comparisons with other Countries. They forget of the Economy principle of Centeris Paribus that is all things held constant or equal or else being equal, before you can make comparison. So, the problem between Ghana and Niger or others not the same. Niger does not pay so much on power, note Ghana power penetration is the highest in the sub-region. Example Niger does not import so much of sexy pants, tooth picks, rice, sugar, fish, turkey tail, pork (they are Moslems) etc so matters or things used by Ghana and Niger are not same or their things or problems are not equal. So some of the comparison made are sometimes infantile.
Sir. a JHS pupil can easily tell such a Country should be heading towards serious crisis, especially in event of external shocks as exemplified the scarcity of onion during the early days of the Coup in Niger. Hence Ghana problem is imported inflation/cost pull or push inflation. So how on earth will a Righteous person with a sound mind, like you Hon Dr Ato Forson thus expected to have a sound judgment and with the fear of Almighty God will blame the Governor of Bank of Ghana for our woes, who only provides secondary role in the fiscal side of the economy mainly advisory. So he must be commended for acting well that prevented the economy from Collapsing. Thus protected your job, by ensuring the stability of the Fourth Republic. So, if you are not playing NDC politics, then there must be something wrong.
Bank of Ghana made it clear that the situation did not render the inability to meet its core mandate of price stability and not affect its Constitutional mandate. The Governor indicated that the Bank was fully aware that a sustained negative equity could undermine the Bank’s Credibility, consequently, structures have been put in place to ensure the BOG remains policy solvent and capable of delivering on its primary mandate.
The Bank has furthermore stated that it has sufficient funds to cover cost and build up long term capital reserves.
For historical records, It is important to state some Central Banks globally also had fair share of the negative equity. These include Israel, Germany, Czech Republic, but were able to maintain price and financial stability. Negative Equity means a Central Bank‘s liabilities exceeds its Assets.
Report from the Financial Times news dated 25 July 2023 disclosed that UK Government faced 150 Billion Pounds Bill to cover Bank of England’s losses. Singapore was reportedly posted a loss of$30.8 billion for financial year ending March 2023.
Alleged printing of new money of GHC22Billion
You as Minority Leader, alleged that BOG printed fresh or new money amounting to GHC22 Billion between January and June 2022 without knowledge of Parliament. As explained above the Governor did no wrong with the release of this amount to the Government because not only lawful but it was actual the net claim of Government and not new currency to the government hence you sold falsehood to the public for them to lynch the good character of the Governor and the two Deputies.
According to BOG, GHC22.04 Billon was in the midyear review budget was made of stocks and bonds sold by banks as per repurchase agreement as well as GHC6.2 Billion as Ghana allocation of SDR from IMF. Lastly, the drawdown of government balances with BOG amounting to GHCh1.6 billion from Commercial Banks and the residual amount of GHC11.4 billion include in the 22.04 billion was an overdrawn balance on the government treasury main account held by BOG as on the reporting date which is normal matter from time to time as the auction system has been designed to ensure same day settlement of maturities and interest payments once the auction is concluded which is part of the auction system as part of the development of the local bond or the local currency market so it was/is done on rolling and continuous basis.
The Bank added that, outstanding balance has to be cleared by the end of the year and clearing is regularly done. Some of the details were proclaimed under the signature of Mrs Sandra Thompson, Secretary to the Bank of Ghana dated 26 July 2023
Justification of GHC40 Billion to Government
BOG justify decision to print 40billion to government under the Fiscal Responsibility Law 2018 (Act982) note as stated above the Bank of Ghana Act 2016 (Act 918) especially the fiscal policy aspect was made redundant by Parliament in event of disaster and truly speaking in 2022 there was no option opened due to the Capital market was closed to Ghana in 2022, coupled the down grading of the Credit Rate of Ghana by International Analysts to junk status as result of the showdown of the e-levy in Parliament, so the Minister of Finance invoked the Fiscal Responsibility Act 2018 (Act 982), this was suspended and ratified by Parliament in 2022, so Bank of Ghana acted in accordance to power of emergency granted to the Minister of Finance duly approved by Parliament in order to prevent the collapse of the economy by adhering to her secondary mandate for supporting the development of the economy .
This imply, the Bank of Ghana as Lender of Last Resort had to aid government to avert a disorderly default of both servicing for domestic and external debt including financing critical imports to keep the economy on the stable path which was in line with the Bank’s core mandate.
Bank of Ghana New Head Office
Bank of Ghana also gave very good reasons on why the construction for the fit for purpose Headquarters, as due to the current location of the Main Offices as prone to earthquake and for other technical reasons. It also explained that the source of the fund being used for the work came from huge profit made by the Bank, which ordinary, the Bank should have handed over to the Shareholder, the Government but the Governing Board with the approval of the 100% shareholder decided to use the profit for the construction of the fit for purpose Headquarters. Additional profits were made in subsequent years and was made clear that the Initial work started in 2019 with dedicated budget line with funds before the crisis that occasioned the economic depression.
The construction is about 50 % complete and it is providing employment to artisans/ construction elements and suppliers of construction inputs and meals and security personnel and it is going to house the subunits of the Bank and some International Institutions from which it will earn revenue in dollars.
It should also be noted that it will improve on the Landscape of Accra and thus enhance the tourist potential of Ghana with associated revenue and employment generations .It will be easily accessible hence with reduction of turnaround, hence save of fuel cost, Lastly, the old Site could be sold out or rented out to Companies for revenue hence the Project is cost effective. This submission from the comfort of my bedroom is based on the Press Releases etc of BOG, in the public domain thus a clear authentication of the Bank’s openness or Transparency and accountability to the people, the very important pillars of the Bank as a Constitutional Body, which works for public good and accountable to the people.
Governor of BOG Remarks and Confirmation by IMF
That Structure and action being done to return to positive equity bank and Bank remains positive solvent and discharge mandate effectively.
The IMF confirmed the loss of the GHC60.8 Billion was caused by the Domestic Debt Restructuring Program with GHC55.1 Billion for reduction of the Public Debt to sustainable a condition precedent for approval by the IMF Board and the balance of GHC5.7 was due to exchange movement or problem.
The Bank urged for urgent cooperation among stakeholders citizens, MPs, the Executive, Financial institution, business houses to ensure a strong and resilient economy. The Bank has therefore the tenets of the 1992 Constitution of Probity, Transparency and Accountability as well met the three pillars of a Central Bank namely, Transparency, Accountability and Independent.
Please, aside demo by a walkout in Parliament, the best tools provided by the Constitution or democracy systems must be used by Hon MPs under a leader of Parliament. So honorable Members of Parliament should not display their incompetence to the whole World and above all on the street as demonstrators under the control or care of ‘national watchmen’ as you want the World to know and this thus told/tells the whole world of the conduct of MPs in Ghana.
A JHS pupil will educate you that Demo on the Street under the control of or Shepard by the Police sorry ‘Watchmen’ is a weapon of last resort in every civilized society and normally used by the Citizens, CSOs, aggrieved workers and not Hon MPs who really part of the problems since Parliament is an Arm of the Government of Ghana, housed as the Legislature Arm of Government and have been approving the loans since 1992 and should therefore not deceive the public that the Minority Group is not part of Parliament hence Government of Ghana.
The GHC60.8Billion is part of your sins in Parliament, because approving of loans, taxes, hence the GHC60.8Billon debts includes the Komenda Sugar Factory Loan as approved by Parliament of Ghana since 1992, so MPs are part of the problem. Hence you must apologise to the electorates of Ghana and the Government of Ghana. Do not forget that Parliament and the Executive are the two causalities of the three lateral Arms of Government.
Sir, you can join demo by CSOs, porters, workers, or the NDC as a party member but we abhor our Hon Members of Parliament as Minority Group hence a subset of Parliament on the Street demo and being Shepard by Watchmen on the hot sun thus an indication of failure to use their heads by using the tools or system of governance as provided by democracy system through the application of the principles of separations of powers with the associated checks and balances for the young ones to emulate.
This conduct by the Minority Caucus on the street being directed by ‘Watchmen’ also gave a very wrong impression globally that our hard working Teachers especially our Professors in the Universities did not give very good training to persons who passed through their hands, since some of you who were trained by them failed to employ what were taught in the lecture rooms or you projected postures as if you never received or undertaken good induction in the work of Parliament as well as not doing you personal training to improve on your performances in governance especially in the work of MPs.
It also demo a failure of Hon Members to appreciate matters of Bank of Ghana should be handled with care since ‘sika empe dede’ hence your action gave a very wrong impression of the conduct of the Hon MPs from the Minority Caucus. Infact your demo was hijacked by high echelons of your Party and so it was crowded with a Political Party sentiments or elements thus loss its value because some of the utterances were unparliamentary and NDC politics.
Sir, Hon MPs who are paid to ensure national cohesion or national security or stability must be seen by their compatriots using the right constitutional and legal tools in dealing with matters of this kind which is the reason you were voted for and thus termed as the representatives of the citizens. So you should not be on Street as MPs of Minority Group dealing with political question thus lowering the image of the institution of Parliament as if it is subordinate to other Constitutional Bodies in terms of sharing of the powers of the State as provided by the Separation of Powers. Please next time do it under cover of NDC.
Sir once again, the demo was more of NDC function or it was hijacked by the Chairman of the NDC. Since your conduct throughout especially at Bank of Ghana did not depict a total Minority group function or activity.