Minority Caucus Requests Bank of Ghana Governor to Give a Date for His Removal Petition Submission

The Minority Caucus in Ghana’s Parliament has formally urged Dr. Ernest Addison, Governor of the Bank of Ghana (BoG), to schedule a meeting to submit their petition calling for his removal from office.

This follows the Minority group’s earlier attempt in October 2023 to present their petition at the Central Bank’s headquarters, seeking Dr. Addison’s ousting, which was unsuccessful as the Governor did not meet with them. The designated representative to receive the petition from the BoG’s security team was declined by the Minority caucus.

In a statement released on December 11, signed by Minority Leader Cassiel Ato Forson, it was stated, “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.”

The statement highlighted their past actions, citing the October protest and their previous intention to personally hand over the petition to Dr. Addison, which did not materialize due to his absence.

The reasons articulated in the petition for Dr. Addison’s removal are multi-fold. These include allegations of failure to address high inflation rates, the depreciation of the Ghanaian Cedi, and mismanagement leading to the collapse of the financial sector, causing substantial losses and making the country unattractive for businesses.

Moreover, the petition accuses Dr. Addison of mismanaging the Bank of Ghana, causing a significant loss disclosed in its 2020 financial statement, prompting the Finance Minister’s request for Parliament to approve $750 million to support struggling banks.

Additionally, it alleges misappropriation of resources through extravagant procurements, including the construction of the new Bank of Ghana Head Office. It further claims the illegal and excessive printing of currency leading to the depletion of external reserves and the drastic depreciation of the Cedi.

The petition concludes by holding Dr. Addison accountable for pushing over a million Ghanaians into extreme poverty and reiterates the call for his resignation, along with that of his deputies and the entire board.

The Minority caucus expects a response from Dr. Addison regarding his availability by December 18, 2023, for a personal receipt of their petition at the Bank of Ghana premises.