Calls For BoG Governor To Resign Is Irresponsible Opposition- Prof Adei

Former Rector of the Ghana Institute of Management and Public Administration (GIMPA) who is also an Economist, Professor Stephen Adei has taken a swipe at the Minority in Parliament over calls for the resignation of the Governor of the Bank of Ghana (BoG) and his two deputies.

He described the call by the Minority through its leader, Dr Casiel Ato Forson as irresponsible opposition due to the potential impact such a decision would have on the economy.

The Minority in Parliament on Tuesday August 8, 2023 at a news conference called for the resignation of the central bank boss and his deputies over what it described as mismanagement after the bank posted losses totalling GH₵ 60.81 billion for the 2022 financial year as against profit of GH₵1.23 billion recorded in 2021.

Leader of the Minority, Dr Cassiel Ato Forson said he and his colleagues will stage a march to occupy the Bank of Ghana, if the trio do not step down in 21 days. 

“We call for the resignation of the governor of the central bank and his deputies within 21 days from today,” he 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,” he emphasised.

However, speaking to an Accra based Asaase radio, Prof Adei said the call by the Minority is reckless.

According to him, the NDC MPs are acting irresponsibly and must be called out. 

“First of all they don’t know what they are talking about,” Prof Adei said. “If the BoG Governor and the deputies resign today, the impact on us will be gargantuan.”

“Do you know the impact on the depreciation of the currency and the total external confidence on our system? There are certain things you can say only in opposition. But this is irresponsible opposition.”

“You can’t say I will sink the ship and take its planks to build my house. Ghanaians think that anything you will do to bring the government down is acceptable, this is one of the greatest menace to our development,” Adei said.

Meanwhile, the central bank has said the losses were largely the result of the government’s domestic debt restructuring activities and the depreciation of the cedi.