Minority’s demand for resignation of BoG Governor and deputies irresponsible – Prof Adei

Economist and Educationist Professor Stephen Adei has taken a swipe at the Minority in Parliament over their call for the resignation of the Governor of the Bank of Ghana (BoG) and his deputies.

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

Speaking at a news conference on Tuesday, August 8, the Minority Leader, 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 emphasized.

However, speaking to Beatrice Adu on TownHall Talk on Asaase 99.5 Accra, 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 of 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.