BoG brouhaha: Use the prescribed constitutional route to address your concerns - Minority told

Former CPP General Secretary, James Kwabena Bomfeh alias "Kabila" has rebuked the Minority in Parliament for threatening to picket the Bank of Ghana should the Governor and his deputies refuse to resign within 21 days.

The Minority accused the Governor of Bank of Ghana (BoG), Dr. Ernest Addison and his deputies of malfeasance, therefore seeking their immediate resignation.

Call To Resign

Minority Leader, Cassiel Ato Forson speaking to journalists during the National Democratic Congress’ "Moment of Truth" series on Tuesday, August 8, 2023, accused Dr. Addison of mismanaging BoG resulting in an IMF bailout.

"We in the National Democratic Congress (NDC) saw the red flags and have consistently warned of the
mismanagement of the financial sector by the Governor of the Central Bank and his team of incompetent deputies.

"Only last week, the Annual Report and Financial Statement of the Bank of Ghana was released. This report depicted the catastrophic decline of the Bank into a bottomless pit. The report revealed the following astonishing facts:

1. The Bank of Ghana recorded a staggering loss of GHS60.8 billion, which is equivalent to $6 billion.
This is twice the amount we are to receive from our recent IMF bailout. This means the recklessness and mismanagement of the Governor of the Bank of Ghana has cost the nation twice what we are struggling and sacrificing to receive from the IMF amid major conditionalities," a statement read by Ato Forson outlined.

It is in view of this that the Minority together with the NDC is calling on the Governor and his deputies to lay down their working tools.

"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.

"The March to Ensure Accountability will begin in 21 days if the Governor of the Bank of Ghana does not do the needful and pack bag and baggage out of that sacred institution that he has so desecrated", the statement further read.

Kabila To Minority

To Kabila, although the Minority has the right to picket the Central Bank, it is however unconstitutional the way and manner they want to undertake this action.

He noted that the constitution has specified the clear path to address their concerns and advised them to follow the constitutional path.

"Picketing is a constitutional right but I'm saying, as Members of Parliament, it's imposed on them to use the prescribed constitutional route which is to follow the constitution to petition and remove a Justice of the Supreme Court other than the Chief Justice. It's constitutionally enshrined," he said on Peace FM's 'Kokrokoo' show.

He also advised the authorities of the Bank of Ghana to be responsive and alert on clarifying issues to make things clear to the people of Ghana on matters relating to the bank and their activities.

"We are not in the best of times, so burden bearers are further burdened with the responsibility to make sure we know what they are doing."