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Minority to submit petition for removal of BOG Boss
The minority in Parliament are seeking the availability of Bank of Ghana Boss, Dr.Ernest Addison to submit a petition for his removal.
In a press statement released by the Minority, “We also demanded that your two Deputy Governors and the entire board of the Bank of Ghana resign from their posts.”
They went on to add “Before the protest march, we had made it abundantly clear to the people of Ghana that handing over our petition to you personally was also a part of our demands. But you failed to show up at the terminating point of our protest march to receive our petition.”
Subsequently, we informed you through the news media that we shall come back to present our petition for your resignation and that of your deputies to you personally.
Below is the full statement
On 3rd October 2023, Honourable Members of the Minority Caucus in Parliament, backed by some civil society groups and hundreds of thousands of Ghanaians, peacefully marched to the precincts of the Bank of Ghana head office to demand your resignation as Governor of the central bank.
We also demanded that your two Deputy Governors and the entire board of the Bank of Ghana resign from their posts.
Before the protest march, we had made it abundantly clear to the people of Ghana that handing over our petition to you personally was also a part of our demands. But you failed to show up at the terminating point of our protest march to receive our petition.
Subsequently, we informed you through the news media that we shall come back to present our petition for your resignation and that of your deputies to you personally.
We therefore write to request your availability at the premises of the Bank of Ghana head office for the Honourable Members of the Minority Caucus in Parliament to hand over our petition to you personally. Kindly inform us by Monday, 18th December 2023, a date and time convenient to you for us to present our petition to you at the Bank of Ghana head office.
To refresh your memory, our reasons for demanding that you resign from your post include the following:
1. You have failed woefully to use monetary policy to check inflation in the country which at one point stood at over 50%. You have equally failed to check the depreciation of the Ghana Cedi.
2, You have supervised the collapse of the financial sector of the country resulting in all banks posting colossal losses In 2022. Interest rates hikes have made Ghana unattractive for businesses to spend and create jobs. Many businesses have collapsed.
You have horribly mismanaged the Bank of Ghana and the annual financial statement of the Bank of Ghana for 2020″ revealed that the BoG lost a colossal sum of GHS60.8 billion and has negative equity of GHS55.1 billion,
4, As a result of your mismanagement of the Bank of Ghana, the Bank cannot in the medium term be relied upon to carry out its role as banker of last resort for government and the banking sector, prompting the Finance Minister to request Parliament to approve a sum of $750 million to support the ailing banks.
5. Your unprecedented mismanagement of the central bank has resulted in the insolvency of the Bank of Ghana itself and this became obvious in your own annual financial statement.
6. There is evidence of wanton dissipation of the Bank of Ghana’s resources through a series of wasteful and extravagant procurements, including the contract for the construction of the new Bank of Ghana Head Office building at Ridge in Accra.
7. Contrary to the Bank of Ghana (Amendment) Act, 2016 (Act 918), you illegally and excessively printed the sum of GHS80 billion (evidenced by paragraph 2 of the Memorandum of Economic and Financial Policy) which caused the depletion of Ghana’s external reserves of $6.3 billion, and resulted in the unprecedented depreciation of the Cedi as it fell from GHS6/$1 to over GHS15/$1 while inflation rose to hyper levels of 54.1% in 2022; and
8. Following your ineptitude and unprecedented mismanagement of the Bank of Ghana, you have pushed over one million Ghanaians into extreme poverty and must be thus held accountable.
For these reasons, we continue to call on you, your deputies and your entire board to resign to enable the President to appoint a new leadership at the central bank to undertake the needed restructuring of our financial sector to resuscitate the country’s finances.
We hope to hear from you by 18th December 2023 regarding your availability at the Bank of Ghana premises to personally receive our petition.
Thank you.
The Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID) successfully held its sixth (6th) Exchange Programme, hosted by the Ghana Export – Import Bank (GEXIM) Bank in Accra from March 22 to 23 March.
The event brought together member institutions, partner organisations and Ghanaian public entities to advance dialogue on South-South trade, investment and development finance, while also creating opportunities for knowledge-sharing and institutional cooperation.
Organised as a capacity-building and networking platform, the 2026 edition of the G-NEXID Exchange focused on GEXIM’s experience in developing innovative solutions to promote intra-African and extra-African trade.
It also highlighted trade and investment opportunities in Ghana, particularly in the context of the African Continental Free Trade Area (AfCFTA) and broader national development initiatives.
The Exchange Programme forms part of G-NEXID’s mandate to foster cooperation among export-import banks and development finance institutions in support of South-South trade and investment.
This 6th edition follows earlier successful programmes hosted by India Exim Bank (2016), BNDES (2017), Indonesia Eximbank (2018), Afreximbank (2019) and Saudi EXIM Bank (2025).
On the first day, participants were presented with G-NEXID institutional information and received an update on the Network’s 2026 work programme.
There were a series of substantive presentations, including an overview of the Ghanaian economy by the Ministry of Finance, with particular attention to debt-related challenges; a presentation by the Ghana Investment Promotion Centre (GIPC), on investment opportunities in the country; and institutional presentations by GEXIM and Development Bank Ghana (DBG) on their respective mandates, initiatives, products and services.
Discussions during the sessions underscored strong interest in sector-focused webinars and business dialogues, particularly in agribusiness value chains such as poultry and rice.
Participants also emphasized the importance of continued information exchange and the sharing of best practices, especially in the area of guarantees.
The second day opened with a presentation on the 24-Hour Economy and Accelerated Export Development Programme, a national economic transformation strategy launched by President John Dramani Mahama in July 2025.
The initiative aims to enhance economic productivity through continuous industrial activity, accelerated export development and strategic import substitution.
As the programme is expected to mobilise both private and development capital, it presents concrete opportunities for G-NEXID members in areas such as co-financing, guarantees, trade finance and technical cooperation.
The programme also featured institutional presentations by guest organisations, namely the African Guarantee and Economic Cooperation Fund (FAGACE) and the West African Development Bank (BOAD), which shared their mandates, initiatives, products and services.
Following these exchanges, the G-NEXID Secretariat held bilateral discussions with both institutions as part of the Network’s ongoing membership drive.
Participants further benefited from a presentation by the Eastern and Southern African Trade and Development Bank (TDB), as well as a showcase of GEXIM’s key pipeline projects.
On the margins of the Exchange Programme, G-NEXID members also held their 20th Annual General Assembly Meeting to review progress and discuss strategic priorities.
Following the event, participants joined the GEXIM@10 International Conference, held from March 24-25, 2026 under the theme, “A Decade of Enabling Export Trade and Industrial Transformation: Resetting GEXIM for the Next Frontier.”
The conference provided an important platform for exploring how Ghana can strengthen its transition from a primary commodity exporter to a more competitive player in value-added trade and industrial development.
Source – G-NEXID
President John Dramani Mahama on Tuesday, March 31, 2026, signed five bills including three amendment bills passed by Parliament into law.
They are: Security and Intelligence Agencies Bill, 2025; University of Engineering and Agricultural Sciences Bill, 2025; Ghana Deposit Protection (Amendment) Bill, 2025; Growth and Sustainability Levy (Amendment) Bill, 2026; and Education Regulatory Bodies (Amendment) Bill, 2026.
In a brief remark after assenting to the bills, President Mahama explained that the Security and Intelligence Agencies Act, 2026, scraps the Office of Minister of National Security and frees the President’s to appoint any Minister to supervise the security agencies.
He said it also reverses the name of the office of National Intelligence Bureau (NIB), to the original name, Bureau of National Intelligence, (BNI).
This the President said, addresses the confusion between that security agency and a well-known Ghanaian financial institution, the National Investment Bank.
President Mahama also noted that the University of Engineering and Agricultural Sciences Act, 2026, establishes another University in the Eastern Region, at Bonsu, with three campuses – the main campus at Bonsu in the Eastern Region, with the second campus to be cited at Ohawu in the Oti Region.
The third, the Presdient assed will be located at Acherensua in the Ahafo Region.
Touching on the Amendment to the Growth and Sustainability Levy Act, the President said, “As you’re aware, the act was amended to increase it from 1% to 3%, and so this act reduces it again. That is the levy on mining companies. It reduces it again to 1%, because of the introduction of the sliding scale of royalties.”
He also spoke to the passage of the Government Education Regulatory Bodies Amendment Act, emphasising that amends Act 1023 to grant greater flexibility to private tertiary institutions and the option to Charter.
The Ghana Deposit Protection Amendment Act, the President concluded, is an amendment to an original act that was supposed to guarantee deposits held in commercial banks or financial institutions.
It basically expands protection to include mobile money wallets and other digital platforms, ensuring a wider scope of digital financial assets are secured.
The signing ceremony, was witnessed by the Clerk of Parliament, Mr. Ebenezer Ahumah Djietror, Secretary to the President, Dr Callistus Mahama, the Minister of Justice and Attorney General, Dr Dominic Akrutinga Ayine, Chief of Staff, Julius Debrah, Joyce Bawa Mogtari, a Senior Presidential Advisor and a Special Aide to the President, Finance Minister, Dr Cassiel Ato Baah Forson, and the Vice President, Professor Jane Naana Opoku Agyemang.
