A potential conflict of interest has been raised by the minority in parliament involving Isaac Adongo, Chairman of Parliament’s Finance Committee, who also serves as a non-executive board member of the Bank of Ghana (BoG).
The Minority Caucus on the finance committee has raised concerns over Adongo’s dual role, questioning its legality and ethical implications.
According to Dr. Stephen Amoah, Member of Parliament for Nhyiaeso, “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?” This concern is rooted in the principle of natural justice, “nemo judex in causa sua,” which translates to “no one should be a judge in their own cause.”
The Minority argues that Adongo’s position compromises the committee’s independence and constitutes a structural conflict of interest.
They cite Article 184(1) of the 1992 Constitution, which assigns oversight of foreign exchange transactions to the Finance Committee, and Standing Order 228(2) of Parliament, which mandates the committee to monitor the BoG’s foreign exchange receipts and payments.
While acknowledging the financial prudence of some of Adongo’s public remarks on foreign exchange withdrawal, the Minority stresses that his 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 reads.