Adongo cannot serve on BoG Board and chair Finance Committee – Minority

The Minority Caucus on Parliament’s Finance Committee has raised concerns. They believe there is a conflict of interest involving Chairman Isaac Adongo. He also serves as a board member of the Bank of Ghana (BoG).

In a press statement dated May 16, Dr. Stephen Amoah signed for the group. They questioned the legality and ethics of Adongo holding both roles. The caucus cited Standing Order 228(2) of Parliament in their argument.

This order mandates the Finance Committee to monitor BoG's foreign exchange activities. The committee must report to Parliament every six months. “How can a board member chair that committee?” they asked.

They referenced the principle of natural justice, which states no one should judge their own case. The statement also mentioned Article 184(1) of the 1992 Constitution. This article assigns oversight of foreign exchange transactions to the Finance Committee.

The Minority believes Adongo’s dual role compromises the committee’s independence. They see it as a structural conflict of interest. While they acknowledged some financial rationale in his remarks, they stressed his limited authority.

“His role as a non-executive board member is being overstepped,” they said.