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Business News of Tuesday, 28 August 2018

Source: Myjoyonline.com

BoG makes major changes at top management level

The Bank of Ghana has carried out major changes at its top management level, Joy Business sources say.

The sources say, however, that the changes have nothing to do with recent banking collapse, but rather it is aimed at improving supervision of the banking sector.

Joy Business is also learning that changes are part of an ongoing re-organisation at the institution and re-alignment of roles.

The changes include the creation of two new roles: the Ethics and Internal Investigative Unit and the Information Security Unit.

The Ethics and Internal Investigative Unit will investigate all allegations of misconduct by staff including any role in respect of the collapse of the defunct banks. Staff found culpable will be dealt with in accordance with our Human Resource policies, and referred to law enforcement agencies, if necessary.

The Information Security Unit, on the other hand, would also ensure effective supervision and overall management of the department.

Details of new positions

Some of the movement picked up by Joy Business shows that Board Secretary, Caroline Otoo, is moving to the new Ethics Unit created by regulator to deal with developments in the sector.

Frances Sackey is expected to take up her position as the new Secretary to the Bank of Ghana Board.

An Economist and Advisor to the Executive Director at the IMF, Philip Otoo, is joining the Bank as its Acting Head of Research.

Dr. Amoah has now been promoted to a new position as Director and will serve as Advisor to the Governor of Bank of Ghana.

The former head of financial markets at the Bank who was moved to the governor’s office as an advisor, Evelyn Kwatia, is now Director Risk Management Department.


Gloria Quartey would head the Human Resource Department of the Bank of Ghana.

Eillot Amoako is Deputy Director of Banking Supervision.

Jonas Adam would be the officer in Charge of Legal Department.

John Fummey is Director Information Security Unit.


Jemima Roberts is Director of Special Project, while Eric Koranteng will the acting Head of Governor's Department.

Sources say the move is part of efforts to streamline its activities, re-align its roles and promote integrity.

The changes are expected to take effect from September 3.