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Minority’s call for resignation of BoG governors reckless, says Adei

Professor Stephen Adei, an economist

Professor Stephen Adei, an economist

Professor Stephen Adei, an economist 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 among others called for the resignation of the central bank boss and his deputies over what it described as mismanagement after the bank posted losses totalling GHC60.81 billion for the 2022 financial year as against profit of GHC1.23 billion recorded in 2021.

The losses were a result of the government’s domestic debt restructuring activities and the depreciation of the cedi, among other effects.

Threat of protest

Speaking at a news conference on Tuesday (8 August), Minority Leader, Dr Cassiel Ato Forson said they will stage a march to occupy the Bank of Ghana, if the trio do not step down.

“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.”


However, speaking to Beatrice Adu on TownHall Talk on Asaase 99.5 Accra on Friday (11 August), Adei said the call by the Minority is reckless.

“First of all they don’t know what they are talking about,” Adei said. “If the BoG governor and the deputies resign today, the impact on us will be gargantuan.”

“Do you know the impact on 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 pranks to build my house. Ghanaian 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.

Listen to Prof Stephen Adei in the attached audio clip below:



Reporting by Fred Dzakpata in Accra


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