CPP Calls for Immediate Resignation of Incompetent Bank of Ghana Governor
The official spokesperson for the Nana Frimpomaa for President Campaign, Sylvester Soprano Sarpong has called for immediate resignation of Dr. Ernest Addison, Governor of the Bank of Ghana, following revelations of the Bank’s unprecedented 60.8 billion cedi loss in its operations.
This financial catastrophe under the leadership of Dr. Addison, has exposed the gross mismanagement of public funds and the complete disregard for the welfare of the Ghanaian people.
In a statement issued today, Sarpong expressed his outrage at the Governor’s continued hold of office despite his role in overseeing the colossal loss.
He emphasized that this was not just a failure of financial oversight but a betrayal of the very taxpayers who fund the Bank of Ghana’s operations.
“How can Dr. Ernest Addison, who has overseen the catastrophic loss of 60.8 billion cedis, continue to hold the office of Governor at the Bank of Ghana?”, he quizzed.
“It is beyond comprehension that an individual responsible for such a monumental failure still retains the confidence of the government, while the poor citizens of Ghana are forced to bear the consequences of his incompetence”, he fumed.
This loss, he said, is not just a number; it represents the squandered future of millions of Ghanaians who continue to live in multidimensional poverty—struggling to survive on less than ¢2 a day without proper housing, access to basic healthcare, or the ability to provide for their families.
Sarpong also questioned the decision to approve the construction of a new extravagant Bank of Ghana headquarters at a cost of $250 million – money that could have been better spent on addressing the dire needs of the nation’s poor and underprivileged citizens.
With over 20 million Ghanaians living in poverty, including children who die from preventable diseases like malaria, he said, the allocation of such funds to a luxury office project is not only a glaring example of misplaced priorities but an insult to the very people whose taxes fund such wasteful expenditures.
“The fact that this same Dr. Addison oversaw the collapse of over 13 banks, savings and loan companies, and brokerage firms – resulting in over 5,000 job losses, is a further testament to his gross failure.” These individuals, he noted, have been left jobless and many are now destitute. “Their suffering is a direct result of the poor governance at the Bank of Ghana and we cannot, in good conscience, allow such a person to continue in a position of power.”
Sarpong further criticized the lack of accountability within Ghana’s political leadership. He stated that political leaders in the country seem to escape scrutiny, despite the monumental losses they cause to the economy and the livelihoods of ordinary Ghanaians.
“The failure of the Bank of Ghana under Dr. Addison is a perfect example of this dangerous culture of impunity”, he stressed.
“We cannot continue to allow mediocrity to dictate the direction of our nation. Dr. Addison’s failure to safeguard the integrity of the financial sector, his inability to protect the interests of the Ghanaian people and his reckless disregard for the state of the economy must not go unpunished. We demand his immediate resignation and a full investigation into his tenure as Governor of the Bank of Ghana”, he added.
Sarpong called on the government to take immediate action, to hold Dr. Addison accountable and to ensure that the assets of the Bank of Ghana are managed with the utmost integrity and in the best interests of all Ghanaians.
The Nana Frimpomaa for President Campaign, he said, remains committed to bringing about leadership that is transparent, accountable and driven by the needs of the people.
Source: Frank Owusu Obimpeh/Priscila Ndede
