Finance

Report to Parliament in one month or face me in court – Adongo to BoG

A Member of the Finance Committee of Parliament Hon. Isaac Adongo has served notice of an impending legal action against the Bank of Ghana (BoG) over the regulator’s failure to comply with its statutory reporting requirements to parliament.

According to the Bolgatanga Central Member of Parliament (MP), section 53 of the Bank of Ghana Act requires the BoG to submit a report to Parliament once every six months on all foreign exchange received and payment and transfers made outside Ghana.

However “the Bank of Ghana has either failed and or neglected to comply with this statutory reporting requirement and is therefore in clear breach of the Bank of Ghana Act.”

In a letter signed by his lawyer Dr. Dominic Akuritinga Ayine to the Attorney General and copied the Bank of Ghana governor, Isaac Adongo said “he intends to proceed to court to compel the Bank of Ghana to comply with the law within one month.”

In the view of the MP, the BoG is acting in bad fate by using its laws to clean up the banking sector by closing down financial institutions particularly the Specialized Deposit Taking Institutions but failed to comply with a law that compels it to report to parliament every six months.

 

Source: mynewsgh.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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