Isaac Adongo is a member on the BoG board
The Minority Caucus on Parliament’s Finance Committee has noted that the presence of its Chairman, Isaac Adongo, on the Bank of Ghana board represents a conflict of interest.
According to them, Standing Order 228(2) of Parliament stipulates that the Finance Committee is mandated to monitor the central bank’s foreign exchange receipts and payments and report to Parliament every six months.
Therefore, its chairman’s presence on the board as well as the committee raises legal and ethical concerns.
“The law provides that the Bank of Ghana must report to the Finance Committee. How can a board member of the same BoG chair that committee?” the statement questioned, referencing a potential breach of the principle of natural justice — nemo judex in causa sua — which means no one should be a judge in their cause,” a statement dated May 26, 2025 was quoted by citinewsroom.com.
The statement, said to have been signed by the Member of Parliament for Nhyiaeso, Dr Stephen Amoah, mentioned Article 184(1) of the 1992 Constitution, which assigns oversight of foreign exchange transactions to the Finance Committee.
They noted that Adongo’s dual role compromises the committee’s independence and constitutes a structural conflict of interest.
Recently, Adongo remarked that the Central Bank was banning Over-The-Counter forex withdrawals, which the bank debunked.
The minority stressed that his current role as a non-executive board member limits his scope of authority.
“Even if the statement is financially prudent, his prescribed responsibility as a non-executive board member is being overstepped,” the statement said.
SSD/MA
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