Budget Transparency Plummets to 22% in Global Survey

Ghana's level of budget openness has dropped sharply from 46% in 2023 to 22% in the most recent Open Budget Survey, positioning the nation significantly under the sub-Saharan African mean of 38%.

As stated in a press statement from SEND Ghana, this raises worries regarding transparency in handling national assets.

The 2025 Open Budget Index, published by the International Budget Partnership (IBP) together with SEND Ghana, examines 82 nations regarding fiscal openness, citizen engagement, and monitoring processes.

The study indicated that the country's significant drop in openness—the key factor—means residents and civic organizations now have much less data available to examine how taxpayer money is collected and utilized.

As per the study, which utilized independent expert evaluations and peer examinations, Ghana fell behind due to postponements in releasing fiscal reports. The report highlighted that these papers are crucial for monitoring public spending as it happens.

A score of 22 percent indicates that the government is offering very little information," the report stated, noting that the absence of up-to-date data "hampers the capacity of parliament, press, and regular people to ensure the executive branch remains responsible.

Although transparency declined, Ghana showed minor progress in the remaining two metrics assessed. The level of public involvement increased from 17 percent in 2023 to 22 percent in 2025, indicating a small rise in chances for engagement.

Nevertheless, the survey noted that these efforts are still constrained: members of the public and non-governmental organizations continue to be mostly left out of budget discussions and ongoing oversight of project execution.

Ghana's budget monitoring score increased from 28% in 2023 to 33% in 2025. As per the study, this enhancement is attributed to greater frequency of audit-related interactions.

Nevertheless, it emphasized that supervision is still inadequate — highlighting that Ghana does not yet have an autonomous financial body capable of delivering impartial assessments and legislative review of the budget formulation and implementation process, which continues to be insufficient.

SEND Ghana once again urged for immediate changes to stop more loss of financial openness. To bring back clarity, increase public involvement, and improve monitoring, the Open Budget Survey suggested that the government should make all eight important budget papers available online promptly and ensure regular publication of In-Year Reports.

It called on the state to broaden parliamentary budget reviews so they incorporate input from civil society groups, marginalized populations, and the wider community, as well as create systems enabling these entities to track how budgets are carried out.

The study further suggested establishing an autonomous financial body to offer unbiased budget evaluation and enhance Parliament's ability to monitor the development and implementation of budgets.

The 2025 study includes 82 nations and continues to be the sole unbiased, comparative, data-driven tool for evaluating financial openness worldwide. SEND GHANA, which worked on the Ghana evaluation, renewed its appeal for immediate changes to stop additional loss of fiscal clarity.

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Canada Targets Under-16 Social Media Use, Introduces AI Regulations

The suggested approach might result in businesses being charged as much as 3 percent of their total worldwide income or $7.2 million if they fail to adhere.

The Canadian cultural minister announced on Wednesday new laws aimed at prohibiting individuals younger than 16 from accessing social media platforms and mandating artificial intelligence-based conversation systems to restrict creation of damaging material.

The newly introduced Digital Safety Act positions Canada as the most recent nation joining a global trend of implementing stricter regulations against social media companies due to worries about their impact on young people.

"we have witnessed the severe impacts that online dangers can cause... ensuring children's safety must not be overlooked," stated Culture Minister Marc Miller in a declaration introducing the plan.

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The law would prohibit social media accounts for individuals below the age of 16, according to the statement, which also mentioned that there could be an exception "route" for businesses if they prove "adequate protections" for young people.

Online social media platforms, such as those offering explicit material, would be required by the legislation to "reduce dangers linked to exposure" to different types of damaging information and implement tags for artificially created content.

The final rules will be implemented by a Digital Safety Commission, which could impose penalties on non-compliant businesses amounting to 3 percent of their worldwide income or C$10 million (US$7.2 million).

"This law aims to create a more secure setting for young Canadians, enabling them to meet face-to-face, form relationships, concentrate on their studies, and develop practical abilities needed to succeed," stated Health Minister Marjorie Michel in a press release.

Professor Sachin Maharaj from the University of Ottawa described the plan as "a move in the correct direction," highlighting "an acknowledgment that social media relates to behavioral and societal challenges."

Clearly, children will discover ways to bypass" limitations, he stated. "However, the true difficulty lies in altering how the applications function.

Besides the social media restriction, the new legislation would also oversee ever-present AI chatbots by mandating businesses to "reduce the likelihood of the chatbot sharing damaging information."

Firms would also be required to maintain openness regarding "reporting limits during emergencies," for instance, when a user plans to cause self-harm or endanger someone else.

The matter has been especially delicate in Canada after a tragic incident in April resulted in nine fatalities in the remote mining community of Tumbler Ridge, with the perpetrator among the victims.

OpenAI encountered significant backlash following its decision to block a shooter from its service in June of last year due to concerning discussions on ChatGPT. However, the company chose not to inform Canadian authorities as it found no indication of an immediate threat.

In December, Australia made history as the first nation globally to mandate that platforms like TikTok, YouTube, Snapchat, and others delete user accounts belonging to individuals under 16 years old, with significant penalties for non-compliance.

Indonesia started implementing its own restriction on social media usage for individuals below 16 years old in March, as some European countries have expressed interest in taking comparable actions.

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New Head of China's Financial Regulator Promises Stability in First Policy Meeting

Ding Xiangqun highlighted small-scale lenders, the real estate industry, and local government borrowing as areas of concern, urging stricter oversight.

The new leader of China's financial oversight body emphasized the importance of acting quickly during her initial significant policy discussion since assuming power. tackling financial liabilities urging quicker measures to tackle dangers at small financial organizations, the real estate industry, and municipal borrowing.

Ding Xiangqun, who assumed control of the National Financial Regulatory Administration (NFRA) on May 29, becoming the first female leader of China's highest banking and insurance regulatory body, presided over an extended meeting of the NFRA's Communist Party committee on June 5 to define the organization's key focuses. Information about the gathering was made public on Monday.

The NFRA stated in a summary of the meeting that they will consistently address risks within small financial institutions, firmly prevent financial crises, broaden the scope of the real estate sector whitelist program, and assist local government financing entities in their transformation.

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Smaller lenders have been a focus of China's financial clean-up campaign, as many have lent heavily to troubled property developers and local government financial entities (LGFVs), increasing their susceptibility to losses compared to the nation's major state-run banks.

The process of consolidation has sped up in recent years, as at least 350 bank licenses were revoked between January and November 2025, according to data from China International Capital Corporation (CICC), which marks an increase from the 198 licenses canceled throughout 2024.

The supervisor also committed to broadening the involvement of the real estate sector's "priority list" financial initiative and establishing funding methods tailored to China's changing residential market.

The regulation was implemented following the financial turmoil experienced by builders like China Evergrande Group and Country Garden left millions of previously sold homes incomplete, transforming the real estate slump into both a societal and financial issue.

Within the initiative, financial institutions offer funding for specific public residential areas instead of directly providing loans to developers. As per CICC projections, approved credit through this system exceeded 8.2 trillion yuan (US$1.2 trillion) by May 2026, aiding in the development and completion of almost 20 million residences.

Regarding local government borrowing, the NFRA stated it would back the shift of LGFVs, organizations utilized by regional authorities to finance development initiatives, several of which are seen as a primary contributor to... hidden debt .

The authority additionally urged increased actions to fight unlawful monetary practices and protect from outside financial dangers.

In addition to preventing risks, the NFRA reiterated Beijing's dedication to stricter financial regulation.

The regulator stated, 'We will uphold a stringent supervisory approach, enhance criteria for entering the market, strictly implement regulations, and guarantee oversight is 'forceful and unyielding'.

The NFRA further stated that it will speed up the implementation of its Financial Supervision Initiative, referred to in Chinese as the "Jinjian Project," a countrywide digital platform designed to provide supervisors with a broader and real-time perspective on risks throughout the financial sector.

Officials also promised to progressively transfer additional duties to local regulatory agencies at the county level in order to enhance oversight at the grassroots stage.

The supervisor also urged enhancing the standard of financial organizations, controlling chaotic rivalry, increasing avenues for capital supplementation, and motivating banks to allocate greater funds toward Beijing's key objectives, such as technology advancement, sustainable growth, accessible banking, senior citizen services, and the online sector.

This meeting marked Ding's initial significant policy event since assuming control of the regulatory body. She took over from Li Yunze, whose information was suddenly taken down from the NFRA's website in April prior to official announcements. announced Ding's appointment the following month.

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NCAA Grounds Aircraft After Emergency Road Landing Near Asaba

The Nigerian Civil Aviation Authority (NCAA) has halted the operations of a private plane and revoked the operator's Permit for Non-Commercial Flight (PNCF) after the aircraft had to make an urgent touchdown on a road in Ogwashi-Uku, close to Asaba, in Delta State.

A initial statement released on Wednesday mentioned by the NCAA's Director of Public Affairs and Consumer Protection, Michael Achimugu, noted that the plane faced challenges during its attempt to land at Asaba Airport and performed a go-around around 7:43 a.m. local time.

As per the NCAA, the plane later touched down on a street within the Ogwashi-Uku region. Officials present at the location stated that all four staff members aboard successfully exited the airplane and were taken by land to Asaba.

"Information obtained from staff present at the location suggests that all passengers left the plane securely and were taken to Asaba via land," said the Authority.

The authority verified that none of the personnel involved have suffered any harm.

Nevertheless, the situation changed when the plane allegedly left the site and returned to Lagos without securing the required official permission.

"The Authority has preliminary information suggesting that the plane left the site around 1102 GMT and went back to Lagos without getting the necessary permission," stated the NCAA.

The authorities also stated that Air Traffic Control was informed solely after the plane had already taken off.

"The Authority has also been made aware that Air Traffic Control was alerted only after the plane had taken off," the statement further noted.

Calling the action an infringement of aviation rules, the NCAA stated that the unapproved takeoff violates the Nigeria Civil Aviation Regulations (Nig. CARs) and is now being probed.

Consequently, the plane was promptly taken out of service after arriving in Lagos, with the flight personnel undergoing regulatory scrutiny until the findings from current inquiries are finalized.

"Once it arrived in Lagos, the NCAA promptly halted the plane’s operations until the findings of the inquiry were available," the Authority said.

Furthermore, the NCAA has temporarily revoked the operator's Permit for Non-Commercial Flight (PNCF) during the ongoing investigation.

The official body stated that it has officially informed the Nigerian Safety Investigation Bureau (NSIB) and is working together with the airline operator, the Nigerian Airspace Management Agency (NAMA), and other pertinent parties to determine all the details of the event.

"The NCAA has officially informed the Nigerian Safety Investigation Bureau (NSIB) about the event and is working alongside key aviation partners, such as the operator and the Nigerian Airspace Management Agency, to determine all details related to the situation," the statement said.

The authority stated that it will examine all operation, upkeep, airworthiness, and flying-related documents as part of its legal duties and will implement additional regulatory measures when required.

Restating its dedication to safety regulation, the NCAA emphasized that it continues to be committed to upholding the top levels of air safety, protection, and adherence to rules in Nigeria's airline industry.

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