Vice President Professor Jane Naana Opoku-Agyemang has sworn into office the newly constituted governing board of the Bank of Ghana (BoG), urging members to bring dynamic leadership to the central bank at a crucial time for the country’s economy.
The swearing-in ceremony took place on Thursday, March 13, at the Bank’s headquarters in Accra.
Addressing the board, the Vice President highlighted the significance of their role in guiding the nation’s financial stability and rebuilding public trust.
“Your diverse backgrounds as public and private sector operators have equipped you with the required attitude and perspectives to offer the dynamic and inspirational leadership the Bank of Ghana requires at this critical period with significant challenges in our economy,” she said.
She emphasized that the success of the government’s economic agenda heavily depends on the performance of the Central Bank.
The President’s mandate to reset and restore macroeconomic stability through sound financial governance, she noted, rests on the shoulders of the new board just as much as it does on the Cabinet and Finance Ministry.
Prof. Opoku-Agyemang urged the board to review the Bank’s existing policies to ensure alignment with global best practices and the government’s social contract with the people of Ghana.
She also lauded the gender diversity of the newly appointed board, which includes over 40% female representation — a move she described as inclusive and reflective of global standards in corporate governance.
“I have no doubt that with the right board dynamics and support from the Government and all other stakeholders, you will live up to expectations and provide the necessary governance structures to propel the economic reset, rebuild, and consolidation agenda of our Government,” she added.
The board was constituted by President John Dramani Mahama in consultation with the Council of State, according to a statement issued by Minister of State in charge of Government Communications, Felix Kwakye Ofosu, on Wednesday, February 26.
New Board Chair and Priorities
The newly appointed board is chaired by Dr. Johnson Asiama, with Bolgatanga Central MP Isaac Adongo among its members.
In his remarks, Dr. Asiama pledged to steer the Central Bank towards greater financial intermediation to support economic growth.
He outlined a series of reforms aimed at addressing legacy challenges within the banking sector.
“While the banking sector remains broadly stable after the recent crises, it requires targeted reforms to ensure continued resilience,” Dr. Asiama noted.
He highlighted key focus areas under his leadership, including:
Tackling high non-performing loans (NPLs) and weak risk management practices.
Strengthening capital adequacy requirements.
Enhancing the regulatory framework to ensure distressed institutions are effectively managed while maintaining financial stability.
Working closely with banks to reduce cybersecurity breaches.
Updating the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930), to improve resolution mechanisms.
“We shall work with all stakeholders — including banks, financial institutions, technology partners, businesses, and regulators — to ensure that every Ghanaian, from traders to entrepreneurs, benefits from a financial system that is modern, fair, and built to last,” Dr. Asiama affirmed.
