Alhaji Inusah Fuseini, a former Member of Parliament for Tamale Central Constituency and a former Minister for Lands and Natural Resources has advised the governor of the Bank of Ghana Mr. Ernest Addison to humble himself because public office is not a possession but a position which can be lost at any time.
Speaking on Plan B FM’s late afternoon show EBAANOSEN hosted by Ohene Kinnah, Inusah Fuseini suggested that citizens who are appointed to serve in the interest of the citizens and fail to meet their target must be held responsible.
The former Chairman of the Legal and Constitutional Committee of Parliament noted that President Nana Addo Dankwa Akufo-Addo must ensure that public appointees are punished for their irresponsibilities to serve as a deterrent to others.
“The culture of impunity must be broken the cycle of impunity must be taken away from this system. This country is a country of law which has passed the public act law and the actions of the Bank of Ghana are regulated by law”.
“The Governor of the Bank of Ghana has decided to act with impunity and has decided to act above the law. As a responsible citizen of Ghana, I have to ensure that the political law of Ghana does not decay”.
“What is happening in Ghana now is in all institutions and the president has failed to act as his attention is needed”.
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has dismissed calls by the opposition National Democratic Congress (NDC) and the Minority caucus in Parliament for him to resign.
Dr Addison in an interview with international business website, Central Banking, said he is not stepping down, describing the protest by the NDC as “completely unnecessary.”
“The Minority in parliament have many channels to channel their grievances in civilized societies, not through demonstrations in the streets as hooligans,” Addison added about the #OccupyBoGProtest.
The protest was held on Tuesday to denounce the economic crisis as a result of what the protesters termed poor monetary policy by the BoG.
Addison also rejected the claims by the Minority that he printed money to finance the lavish lifestyle of the ruling government.
According to him, the BoG provided monetary financing during 2020 and 2022, to meet specific crises which he says is legal under the central bank law.
The Central Bank posted losses totaling GHC60.81 billion for the 2022 financial year as against a 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.
Regarding the central bank’s 2022 losses, Addison told Central Banking: “The impairment of the bank’s holdings of debt which led to the losses was a conditionality for the IMF program. Nobody at the Bank of Ghana forgave any debt.”
The governor also clarified that the BoG decided to start the new headquarters in 2019. This was “when the bank was profitable and appropriated some of its profits for the new headquarters,” he said. “It was not a decision taken during a crisis.”
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