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Bank of Ghana Governor should advise himself and resign – Bokpin
The Bank of Ghana (BoG) exposed itself too much to support the government of Ghana hence some of the financial difficulties it is facing currently, a Professor at the University of Ghana Business School, Godfred Bokpin, has said.
Prof Bokpin indicated that the financial challenges that the central bank is facing are undermining confidence in the financial sector.
To him, the Governor, Dr Ernest Addison should have resigned by now.
“We are undermining confidence in our financial system. Remember the central bank could be policy solvent but that doesn’t restore total confidence in our system. If you look at what has happened to the banks, many of them have had to revise their line of credit in terms of corresponding banking in line with the outside
“In any serious society, I believe that maybe the governor would advise himself and resign by now. Even though they find themselves in the situation, I think the central bank intentionally compromised its independence, sold it birthright to the government,” he said in an earlier recorded interview with Alfred Ocansey aired on the Ghana Tonight show on TV3 on Tuesday, August 8.
The Minority in Parliament has also demanded the resignation of the Governor and his two deputies – Dr Maxwel Opoku-Afari and Elsie Addo Awadzi.
This was after the Minority Leader Dr Cassiel Ato Forson said Dr Addison is spending $250million to build a new head office for the central bank at time the Bank is in financial difficulties.
Dr Forson accused the Governor of printing money to finance this project because the BoG has no money.
“The Bank of Ghana does not have money but spending GHS250million for a new head office, which means he is printing additional money to finance this project,” Dr Forson said.
He further gave the Governor and his two deputies up to 21 days starting today Tuesday, August 8 to resign after indicating that the governor just prints cash to support the government’s spending.
“We have to get this Governor out and let us have a new Governor. If we allow him to stay in the office, we will set bad precedence for future managers to do the same,” he said at a press conference in Accra on Tuesday, August 8.
Dr Forson stressed, “He has messed us so much that we cannot wait to see his back.”
“We demand the immediate resignation of the Governor and his deputies within 21 days. We will march to occupy the central bank to save the Bank of Ghana if he fails to reign. The March will ensure accountability,” he said.
Dr Forson’s comments follow the GHS60.8billion loss made by the BoG.
The Bank said this is due to the impairment of the Government of Ghana’s securities holdings of ¢48.45 billion, impairment of loans and advances granted to quasi-government and financial institutions amounting to ¢6.12 billion and the depreciation of the local currency resulting in net exchange loss of ¢5.27 billion.
The loss was occasioned by the Government of Ghana Domestic Debt Exchange Programme.
According to the BoG, its Board of Directors and Management assessed the policy solvency implications arising out of the negative net worth position and the group’s ability to continue to generate enough income to cover its monetary policy operations and other operational costs.
In the view of the directors, the Central Bank will continue to operate on a going concern basis due to a variety of factors underpinned by expectations of an improved macroeconomic situation and policy actions specifically targeted at improving its balance sheet.
In its Annual Report, the Central Bank, outlined these measures which it believed would help it recover.
These include Retention of profits to help rebuild capital until equity firmly returns to positive region.
Refraining from monetary financing of the Government of Ghana’s budget. In this respect, action has already been taken with a Memorandum of Understanding on zero financing of the budget signed between the Bank of Ghana and the Ministry of Finance on 26 April, 2023;
Taking immediate steps to optimise the Bank of Ghana’s investment portfolio and operating cost mix to bolster efficiency and profits; and
Assessing the potential need for recapitalisation support by the government in the medium-to-long term
It furthered that the Board of Directors and Management are of the view that “continued efforts at restoring macroeconomic stability and debt sustainability in addition to long-term efforts at building reserves, provide enough basis for continued operational policy efficiency existence for the foreseeable future”.
source:3news.com
The Dzidula Pink Foundation, a new organisation dedicated to cancer awareness, early detection, and patient support, has been officially launched in Accra, with a passionate call for national commitment to fighting the disease. The launch event, held last week Friday, carried the theme: “Beyond the diagnosis: A future of restoration, care and courage.”
Speaking at the event, Madam Abena Brigidi, founder and CEO of Nimed Capital Limited, emphasised that cancer remains one of the most devastating health challenges facing families across the country. “Cancer does not discriminate—it affects mothers, fathers, daughters, and sons. It drains families emotionally and financially, and behind every statistic is a human story and a future suddenly thrown into uncertainty,” she said.
Sharing her personal encounters with cancer, having lost both her husband and father to the disease, Madam Brigidi highlighted the emotional, financial, and physical scars left behind. “I stand here not just as a speaker, but as a witness to what cancer can take away,” she stated. “I have watched loved ones fight bravely, and I have felt the deep pain that loss leaves behind.”
She stressed that awareness and early detection are critical to reducing deaths, noting that many Ghanaians still lack access to proper screening, reliable information, and adequate treatment. She appealed to healthcare professionals, corporate institutions, policymakers, the media, and the general public to join hands in the fight. “Early detection saves lives. Your support today can lead to someone’s healing tomorrow,” she said.
Madam Brigidi further called for collective responsibility to sustain the foundation’s mission. “To our medical professionals, we need your expertise. To corporate partners, your resources. To the media, your voice. To policymakers, your support. And to the public, your compassion,” she urged. She also insisted that breast cancer awareness should not be limited to annual campaigns, saying, “Breast cancer awareness must not be seasonal.”
Mrs Diana Fafa Gozo, founder of the Dzidula Pink Foundation, shared her own cancer journey, describing the shock of diagnosis, the fear that followed, and the difficult path through treatment. Her experience transformed her pain into purpose and inspired her to create a foundation to ensure no cancer patient walks alone.
Mrs Gozo explained that many patients struggle not only with treatment costs but also with emotional resilience. She outlined the foundation’s initiatives, which include awareness and early detection campaigns, patient support funds, community outreach, and survival support circles. “This foundation is my offering of gratitude, courage, and compassion and a reminder that no one should walk the cancer journey alone,” she concluded.
By Esinam Jemima Kuatsinu
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The Accra Metropolitan Assembly (AMA) says it will deploy teams of Public Health Officers, members of its Sanitation Taskforce, and labourers, including sweepers and janitors, across all sub-metros to support the third National Sanitation Day exercise.
It explained that these teams will be equipped with waste collection trucks, tippers, and other tools to help with desilting, refuse collection, and transporting waste to approved disposal sites.
The AMA reminded residents that failing to comply with the sanitation directive or refusing to participate in communal labour is an offence.
It said offenders risk a fine of up to 100 penalty units, imprisonment between 30 days and six months, or both, with repeat offenders liable to additional daily penalties.
It urged all residents, traders, transport operators, market women, shop owners, landlords, tenants, and businesses to actively participate in the exercise.
The AMA said it counts on everyone’s collective responsibility to keep Accra clean, liveable, and resilient, especially as the city approaches Christmas and the New Year.
By: Jacob Aggrey
