NDC demands resignation of Bank of Ghana Governor in 21 days over losses

The opposition National Democratic Congress (NDC) has issued a call for the resignation of Dr. Ernest Addison, the Governor of the Bank of Ghana (BoG), as well as his deputies. Amid concerns over the fiscal performance and management of the central bank, the NDC has set forth a demand for accountability.

At a press conference held under the banner of the NDC's "Moment of Truth" series on Tuesday, August 8, 2023, Dr. Cassiel Ato Forson, the Minority Leader, accused Dr. Addison of overseeing the mismanagement of the Bank of Ghana, which allegedly led to a staggering loss of GH¢60.8 billion during the 2022 fiscal year. 

The party's response has been to threaten a march to the Bank of Ghana premises to forcibly remove Dr. Addison and his deputies if they do not voluntarily resign within the next 21 days.

“In this regard, we call for the resignation of the Governor of the Central Bank and his deputies within 21 days from today," Dr. Forson said.

"We are resolved to embark on popular action to occupy the Central Bank and drive out the team of inept, callous and criminal mismanagers of the finances of this country and 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 the needful and pack bag and baggage out of that sacred institution that he has so desecrated. Dr Ernest Addisson Must Go! There has to be an end to impunity and it is NOW!”

Dr. Forson outlined the NDC's perspective during the press conference, asserting, "We are resolved to embark on popular action to occupy the Central Bank and drive out the team of inept, callous and criminal mismanagers of the finances of this country and save the Bank of Ghana." 

He underlined the party's intention to hold the leadership accountable, stressing that their demand is a call to end perceived impunity and fiscal mismanagement.

The opposition party contends that the Bank of Ghana has become a scene of financial mismanagement, attributing the alleged losses to the actions of its administrators. 

The NDC has expressed concern about the consequences of what they perceive as reckless management, particularly in the context of a significant fiscal loss.

According to the NDC, the Governor and his team's purported mismanagement have raised questions about their fitness to lead the central bank.

“The NDC party is on record to have informed Ghanaians on countless occasions that the Bank of Ghana has been on a dangerous trajectory, and indeed, it has now become a crime scene with dire consequences for all of us. Beyond the mismanagement of the economy and our finances, the spectacular recklessness and ineptitude of the Governor and his team has called into question the wisdom of leaving him at the helm of affairs of the Central Bank,” he stressed.