Suit against BoG to be decided July 22

All is set for the decision of the Supreme Court in the Civil suit against the Bank of Ghana.

A seven-member panel hearing the case, chaired by Justice Sophia Adinyira, has fixed judgement for July 22 this year.

This follows the filing of the memoranda of issues to be determined by the Court by the Parties.

Following the fall of the cedi, a private legal practitioner, Dr. John Ephraim Baiden dragged the Central Bank to the Supreme Court over the depreciation of the local currency. He is asking the Court to order the Bank of Ghana to provide a stable currency.

In the suit which the Attorney-General is a party, the Plaintiff intimates that the Bank of Ghana has fallen short of its Constitutional mandate to provide a stable currency for the benefit of Ghanaians and businesses.

He is by this action seeking for the necessary declarations and orders directed at the Bank.

Dr. Baiden wants an order for the Central Bank to have a regime change, from floating exchange rate to a fixed regime.

He also wants an order for the Bank to abrogate the dual exchange rate to a single exchange rate system, as well as currency parity where the cedi will match the dollar one-to-one.

The Court cautioned the parties not to fight the case in the Media pending the judgement and allow it to execute its duty.