Minority Caucus Plans Second Protest for BoG Leadership Change

The Minority caucus in Parliament has announced plans to stage a second protest demanding the removal of the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, and his two deputies from office. The NDC MPs argue that the governor, who they claim oversaw significant mismanagement at the Central Bank, should be replaced with a more competent individual.

On October 3, 2023, members of the caucus organized a protest to call for the resignation of the governor and deputies after the Bank recorded a GH¢60.81 billion loss in the 2022 fiscal year and allocated over $250 million for constructing a new headquarters.

The protesters gathered at the Obra Spot at Kwame Nkrumah Circle and marched through several key locations, including Adabraka, Ridge Roundabout, and the High Court Complex Traffic Light, before ending at Independence Square. Although leadership intended to present a petition to the governor, he did not meet them personally and sent his head of security instead.

The initial protest was deemed unsuccessful, prompting the Minority caucus to start planning a new protest date, which took nearly a year to finalize.

During this period, Bawku Central Member of Parliament, Mahama Ayariga, filed a Right to Information Act (RTI) request to the BoG. He sought detailed information on the combined losses of approximately GH¢70 billion reported in BoG’s financial statements for 2022 and 2023, as well as the over GH¢250 million spent on the new head office and a clinic under construction.

Sources indicate that Mahama Ayariga will lead the upcoming protest after notifying the police and meeting the requirements of the Public Order Act. The new protest is scheduled to take place on July 30, aiming to hold the BoG leadership accountable and push for changes in its leadership.

The Minority caucus remains adamant that replacing the current BoG Governor and his deputies is crucial for restoring competence and integrity to the Central Bank. They continue to mobilize support for their cause, emphasizing the importance of transparency and accountability in managing the nation's financial institutions.