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Finance Minister Warns CBG Board Against Excessive Pay

By Ajuma N / July 10, 2025

Finance Minister Dr. Cassiel Ato Forson has issued a strong warning to the newly inaugurated board of Consolidated Bank Ghana (CBG), stating that inflated salaries and board allowances in State-Owned Enterprises (SOEs) will no longer be tolerated.

Speaking at the swearing-in ceremony on Wednesday, Dr. Forson stressed that his administration is committed to ending the era of bloated compensation in SOEs, many of which rely on government support. “The era of excessive salaries and bloated board allowances will not be entertained under our administration,” he said.

He urged the CBG board to lead with integrity, embrace financial discipline, and focus on accountability, performance, and value for money in all operations.

The minister’s comments come amid rising public criticism over the financial management of SOEs, especially regarding executive pay and perks.

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