The New Democratic Congress (NDC) has issued a 21-day ultimatum to the governor of the Bank of Ghana (BoG), Dr. Ernest Kwamina Yedu Addison and his deputies to resign.
This comes after the Bank of Ghana posted losses of about GH¢55.12 billion in 2022, largely as a result of the government’s Domestic Exchange Programme (DDEP) after its non-marketable holdings of government of Ghana instruments including long-term stocks, a COVID-19 Bond and overdraft were subjected to a 50 per cent haircut.
According to the NDC, the government has been reckless in managing the BoG, which has led to the collapse of the Central Bank of the country.
Addressing a news conference at the party’s headquarters in Accra on Tuesday, August 8, 2023, minority leader, Cassiel Ato Forson said the governor of BoG and his deputies, must be held to account.
“It is however, our position that the government of Ghana has so recklessly mismanaged the central bank and brought it to its knees and cannot remain at the helm of affairs of the bank without being held accountable. Those who have led this reckless and criminal conduct unleash economic hardship and financial distress on the suffering people of Ghana must be held accountable on this particular action. In fact, impunity of the highest order must not be tolerated by the suffering masses of Ghanaians, We must not allow this dangerous precedent to be set for future leaders.
“In this regard, we call for the resignation of the Governor of the Central Bank and his deputies within 21 days from today,” he stated.
He threatened that they will after 21 days march to the BoG to ensure that they resign if they do not within the stipulated time.
We are resolved to embark on popular action to occupy the Central Bank and drive out the team of inept, callous and criminally minded mismanages of our finances to save the Bank of Ghana. The March to Ensure Accountability will begin in 21 days if the Governor of the Bank of Ghana does not do what is necessary and pack bag and baggage out of that sacred institution that he has unfortunately mismanaged. Dr Ernest Addison must go. There has to be an end to impunity and it is now.”