Economist and lecturer at the University of Ghana Business School (UGBS), Professor Godfred Bokpin, has assented to the National Democratic Congress’ (NDC) call for the immediate resignation of the Bank Of Ghana (BoG) governor and his two deputies.
He indicated that Dr Ernest Addison and his deputies have “fallen short by overly exposing the Central Bank to government” which has led to loss of GH¢60.8 billion during the 2022 fiscal year.Â
Prof Bokpin added that it will take years for Ghana to recover from the unprecedented losses incurred by the bank.
“Before the Minority made their statement, I had held a similar view way back. I have a soft sight towards the governor and the two deputy governors. In terms of competence, professional experience, they qualify. But a number of things have happened for which from a professional point of view they fell short. Im saying this because a Central Bank is a national institution. If you look at the losses the Central Bank has incurred it is unprecedented. It’ll take us years to recover.
“The Bank of Ghana overexpose themselves to government. A couple of years ago, if you listen to Governor of the Central Bank after their Monetary Policy Committee meeting, you’ll realize that the Governor of the central bank is not happy with the way the fiscal side is being managed, revenue generation and the expenditure and because of that it’ll undermine the effectiveness of their work,” he said on Accra-based Peace FM.
At a press conference held yesterday by the opposition party, the NDC demanded that Dr Addison and his deputies step down for mismanaging the affairs of the Central Bank.
The party gave the governors a 21-day ultimatum to voluntarily resign or its members will march to the Bank of Ghana premises to forcibly remove Dr Addison and his deputies.
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