Banking Consultant Threatens To Expose Under-Reporting
Inflows In a shocking revelation, banking consultant Dr. Richmond Atuahene has accused the Bank of Ghana (BoG) of under-reporting remittance inflows in Ghana by a staggering $11 billion.
Dr. Atuahene claims to have irrefutable evidence supporting this claim, citing discrepancies between the World Bank’s report on remittance inflows and the figures provided by the BoG in the Auditor General’s report.
Speaking on JoyNews’ AM show on June 26th, Dr. Atuahene warned the BoG to release additional data within 21 days to substantiate their denial, or face public exposure as operating a deceitful scheme that artificially creates foreign exchange shortages, weakening the local currency, the cedi.
The consultant pointed out that the under-reporting of remittance inflows is attributed to the influence of FinTech platforms, which allegedly withhold substantial amounts of foreign exchange to the detriment of the state.
While the World Bank data tracked $20.7 billion in remittances to Ghana from 2018 to 2022, the BoG’s reports only reflected $9.5 billion during the same period, resulting in an alarming $11.2 billion disparity.
Despite the BoG’s denial of the allegations, Dr. Atuahene claims to have verified the disparity and vows to expose the truth with additional evidence. He emphasized the importance of the BoG releasing more data to support their denial within the stipulated 21-day ultimatum.