<< Back             Poser >> IMF urges Ghana to end quasi-fiscal activities after GH¢22b domestic gold purchase losses The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to end quasi-fiscal activities following losses recorded under the Domestic Gold Purchase Programme (DGPP). The Fund said the DGPP recorded losses of GH¢22 billion in 2025, equivalent to about 1.5 per cent of Ghana’s Gross Domestic Product (GDP), weakening the central bank’s financial position. The IMF said the losses, together with other factors, increased the BoG’s negative equity position to 6.7 per cent of GDP by the end of 2025. It said safeguarding the independence and credibility of the central bank required the permanent cessation of quasi-fiscal operations and the full transfer of the DGPP to GoldBod. The DGPP was introduced to strengthen Ghana’s gold and foreign exchange reserves through the purchase of gold from local miners. Although the programme contributed to higher reserves, the Fund said it also imposed significant financial costs on the central bank. In July 2026, the Government, the BoG and GoldBod signed an agreement transferring all DGPP activities from the central bank to GoldBod. Under the arrangement, GoldBod will assume responsibility for purchasing gold and meeting all operational costs, while the BoG will focus on its core mandate. The IMF welcomed the transfer, stating that it would eliminate future financial risks from the central bank’s balance sheet and enhance transparency in the management of the programme. The Fund also called for the recapitalisation of the central bank, noting that a strong financial position was essential to maintaining price stability and confidence in the economy. An independent audit of the DGPP is underway, with its findings expected later this year. Source: GNA Ghana Business News	Nigeria’s trade surplus jumps 67% to N12.59trn in Q2’26 By Yinka Kolawole Nigeria’s merchandise trade surplus surged by 66.8 per cent quarter-on-quarter to N12.59 trillion in the second quarter of 2026, from N7.55 trillion recorded in Q1, as a sharp rise in exports widened the gap between the country’s earnings from exports and its import bill. In its foreign trade statistics report released yesterday, […] Maritime Reforms: Nigeria’s ports record 12.3% rise in cargo throughput By Emeka Anaeto The Nigerian Ports Authority (NPA), has reported significant growth in cargo throughput, vessel traffic, container movements, vehicle traffic among others in the second quarter of 2026, Q2’26, attributing the development to the various reforms the Federal Government introduced in the maritime sector. This was contained in the NPA Operational Performance Report for […] Foreign investors pull out N266bn from Nigeria in 3 yrs Foreign Portfolio Investment (FPI) net capital outflow from the Nigerian equities market widened by more than 1,073 per cent in three years, rising from N22.68 billion in the first seven months of 2023 to N266.07 billion by July 2026, as foreign investors took more money out of the market than they brought in. Nigeria’s reserves hit $54bn, highest in 18 years Nigeria’s external reserves have risen to $54.08 billion, reaching their highest level in nearly 18 years and moving further above the Central Bank of Nigeria’s (CBN) projection for the end of 2026. Latest CBN data showed that the reserves reached $54.08 billion on September 3, compared with $53.99 billion on September 2 and $53.90 billion […] Dangote Petroleum Refinery set for landmark IPO following SEC approval … Proposed 4.1bn share offer could raise approximately ₦2.15trnBy Udeme Akpan The Securities and Exchange Commission (SEC) has approved the commencement of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, paving the way for what could become one of the largest capital market transactions in Nigeria’s history. The approval was conveyed […] PremiumTrust Bank gets dual credit rating upgrades By Henry Obetta PremiumTrust Bank has received dual credit rating upgrades from Agusto& Co. and DataPro Limited, underscoring its financial strength, sound risk management and growth trajectory. Agusto upgraded the Bank’s long-term rating from BBB+ to A- and short-term rating from A2 to A1, while DataPro upgraded its long-term rating from A- to A and […]