Dr Ernest Addison

The Minority in Parliament says Governor of the Bank of Ghana (BoG),Dr. Ernest Addison and his appointees cannot justify their continued tenure in office.

Minority leader Dr. Cassiel Ato Forson said that it will take the country more than 20 years to clean up the mess that the current BoG management has caused in response to the Governor’s explanations for some of his decisions.

In a statement, Dr. Ato Forson went on to say that it is urgently necessary to investigate BoG’s internal procedures to ensure that losses won’t be reported or duplicated this year.

There can be no denying that the Governor, his deputies, and BOG directors have jeopardized their independence and rendered their continued tenure in office impossible.

Dr. Ato Forson noted that they attempted but failed to use non-best practice as an excuse for their carelessness and poor management, which is another reason why they should leave the Bank of Ghana right away.

He added that the future of BOG now exclusively depends on the insolvent Akufo-Addo/Bawumia/NPP Government’s capacity to recapitalize it, adding that in reality, the country will need more than 20 years to clean up the mess that the BOG’s current managers left behind and turn the bank’s current negative GHS55.1 billion equity into positive equity.

Source: Kasapafmonline.com