Resign! – CSO backs calls for resignation of BoG governor

Civil society group, Justice for Ghana (J4Ghana) has backed calls by the Minority in Parliament for the governor of the Bank of Ghana (BoG) Dr Ernest Addison to step down.

“The responsibility entrusted to our public officials necessitates a steadfast commitment to upholding their duties. When these obligations are egregiously disregarded or when actions are in clear violation of Ghanaian law, it becomes imperative for those in positions of authority to exhibit a culture of accountability.

“J4G believes that this begins with the honourable act of resigning from office,” the group noted in a statement signed by its Convenor Dramani Selorm Dzramado on Wednesday, 9 August 2023.

According to the group, “the conscientious citizens of Ghana, who tirelessly contribute to the nation's progress through their hard work and adherence to the law, are rightfully dismayed and angry by the unacceptable financial decisions made by the Bank of Ghana.”

It stressed that: “Particularly alarming is the shocking revelation of the bank's financial records, which indicate an inexplicable expenditure of 60.8 billion Ghana cedis during the 2022 fiscal year superintended by the incompetent Governor.”

It indicated that given the undeniable pattern of gross mismanagement and unimpressive performance displayed by the Central Bank governor and his colleagues “within the upper echelons of the Bank of Ghana, it is of the firm belief that “the only appropriate course of action is their resignation.”

The Minority in Parliament has called on the Governor of the Bank of Ghana (BoG) Dr Ernest Addison to resign.

According to the Minority, the Central Bank governor has run down the country’s economy due to his incompetence.

The Minority also accusing the BoG of building a new headquarters at the speed of light after the governor collapsed the country’s economy.

Speaking at a press conference held in Accra, on Tuesday, 8 May 2023, the minority leader, Dr Cassiel Ato Forson noted that the “BOG’s illegal printing of money is responsible for the depletion of Ghana’s external reserves which resulted in the unprecedented depreciation of the Cedi, the main cause of hyperinflation in 2022.”

The Minority leader further noted that the BoG Governor “breached section 30(7) of the Bank of Ghana Act, 2012 (Act 612) and Section 60 of the Bank of Ghana Amendment Act, 2016 (Act 918).

“An estimated 850,000 people were further reported to have been pushed down the poverty line as a result of the hyperinflation in 2022.”

The Minority is, therefore, of the opinion that: “those who have so recklessly mismanaged the Central Bank and brought it to its knees cannot remain at the helm of affairs of the bank without being held accountable.

“Those who have by their reckless and criminal conduct unleashed economic hardship and financial distress on the suffering people of Ghana must be held to account. Impunity of the highest order can no longer be tolerated by the suffering masses of Ghanaians.”

The Minority, therefore, called on the Central bank governor and his deputies to within 21 days resign or else it will embark on a “popular action to occupy the Central Bank and drive out the team of inept, callous and criminal mis-managers of the finances of this country and Save the Bank of Ghana.”