June 27, 2025
Banking

Keep mute on BoG layoffs, thousands lost jobs during clean-up exercise


Political commentator, Solomon Owusu Political commentator, Solomon Owusu

Political commentator, Solomon Owusu, has tongue-lashed the Minority in Parliament for speaking on the termination of contracts of about 100 employees at the Bank of Ghana.

According to him, the NPP government undertook a banking sector clean-up exercise in 2017 which led to several job loses.

Citing Nduom’s Bank as an example, he said GN bank lost over 3,000 employees due to the shut down of its operations.

“More than 6,000 people lost their jobs. GN Bank alone, more than 3,000 people lost their jobs. So if people are going to talk about retrenchment, it must not be coming from the new patriotic party. When they do that, it annoys the sensibilities of the people of this country. You understand, we are talking about the fact that they should be working in a bank,” Owusu stated in an interview with TV3.

Solomon Owusu also questioned the employment timing of these sacked workers, stating that, the appointments were made in December 2024 just after the NPP had lost the general elections.

He alleged that the appointments may have involved irregularities, including bribery.

Describing the gold-for-oil programme as a scam, he said the central bank recorded a GH¢9 billion operational loss in 2024, and a GH¢1.82 billion expenditure the gold-for-oil programme.

He said the Bank of Ghana’s current financial situation does not support new hiring.

He however called on government to expand the economy to create more jobs for the unemployed youth.

SA/MA

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