Former Central Regional Minister, Kwamena Duncan has reprimanded the Minority in Parliament and opposition National Democratic Congress for issuing a 21-day ultimatum to the Governor of Bank of Ghana, Dr. Ernest Addison and his deputies to resign.

The Minority accused Dr. Addison and his team of recording a staggering loss of GH¢60.8 billion within the 2022 fiscal year due to their mismanagement.

"We in the National Democratic Congress (NDC) saw the red flags and have consistently warned of the mismanagement of the financial sector by the Governor of the Central Bank and his team of incompetent deputies.

"Only last week, the Annual Report and Financial Statement of the Bank of Ghana was released. This report depicted the catastrophic decline of the Bank into a bottomless pit. The report revealed the following astonishing facts...Bank of Ghana recorded a staggering loss of GHS60.8 billion, which is equivalent to $6 billion...twice the amount we are to receive from our recent IMF bailout," Minority Leader, Ato Forson said during an event dubbed "Moment of Truth" held by the NDC on Tuesday, August 8.

He added; "This means the recklessness and mismanagement of the Governor of the Bank of Ghana has cost the nation twice what we are struggling and sacrificing to receive from the IMF amid major conditionalities."

The Minority therefore says they will picket the Bank of Ghana (BoG) should the Governor and his deputies fail to resign but Kwamena Duncan finds the Minority's position ridiculous.

He described their threat to picket the BoG as a political ambush targeted at the Governors.

"That's not how we want to run our country. You want to use a certain political ambush. There are laws," he slammed the Minority and the NDC while discussing the issue during Peace FM's 'Kokrokoo' show Wednesday morning.