The Minority caucus in Parliament has formally communicated its plan to hold a demonstration, seeking the resignation of Dr. Ernest Addison, the Governor of the Bank of Ghana (BoG), and his two deputies. A letter authored by the Member of Parliament for Bawku Central, Mahama Ayariga, and directed to the Greater Accra Regional Police Command, also states the demand for the resignation of the members constituting the board of the Bank of Ghana.
The protest is scheduled to occur on Tuesday, July 30, 2024, within the Greater Accra Region, specifically in Accra, from 8:00 am to 6:00 pm. The demonstration will commence at Obra Spot at Kwame Nkrumah Circle, follow a route from Adabraka to Kingsway, and ultimately conclude at the frontage of the Bank of Ghana headquarters.
The Minority has raised concerns about the ongoing construction of the new head office for the BoG at North Ridge. The letter alleges that the Governor of the Central Bank and the board members have engaged in extravagant spending on the construction of the new Bank of Ghana Corporate head office building. Additionally, it is claimed that the Governor is overseeing the construction of a new residence for himself, estimated to cost Forty Million United States Dollars (USD 40 million), with the actual cost undisclosed.
Previously, the Minority caucus organized a similar protest on October 3, 2023, after the Bank recorded a GH¢60.81 billion loss in the 2022 fiscal year. According to the Minority’s letter, Governor Addison is accused of unauthorized printing of money for the government without parliamentary approval and the write-off of approximately GH¢48.4 billion of government debt. This sequence of events led to the assertion that the bank has become insolvent, a situation confirmed by the Bank of Ghana’s plea for recapitalization from the Central Government.
