Ghana: Central Bank Governor Forced To Resign

The Member of Parliament for Sunyani East, Kwasi Ameyaw-Cheremeh, is alleging government forced Dr Henry Kofi Wampah to resign as Governor of the Bank of Ghana ahead of his retirement.



Although Dr. Wampah's tenure expires in August, he on Tuesday announced his early exit, noting the decision was partly linked to presidential and parliamentary elections planned for November.

"I told him [President Mahama] I wanted to leave office early and we have agreed that I will exit at the end of March," Wampah said. "It is just fair to leave early in order to give enough room for my successor, whoever it might be, to settle down before we get to the elections."

But the MP believes the outgoing Dr Wampah, was forced by the government to resign due to what Mr Ameyaw-Cheremeh claims is the embarrassment Dr Wampah brought to the government, especially with how he handled the micro-finance crisis that has hit the Brong Ahafo Region.

Mr Ameyaw-Cheremeh who made the allegation Wednesday on Onua FM's Yen Sempa morning show said: “if the culture of resignation works in Ghana, he should have resigned long time because he has failed the nation”.

According to him, the government has now realised that Dr Wampah's management of the economy has caused them, hence forced him to resign before his tenure.

Mr Ameyaw Cheremeh said the excuse given by Dr. Wampa is frivolous, saying the Governor’s position has nothing to do with elections.

Wampah's successor 

Meanwhile, Head of Human Resource at the Fair Wages and Salaries Commission (FWSC) wants Deputy Governor of Bank of Ghana (BoG), Millison Narh to be appointed as the substantive Governor.

Mr. Cephas Amada told Onua FM that it will be in the interest of the Central Bank for the government to appoint Ms Narh since he has great insight into the workings of the Bank having served as a Deputy to Dr Wampah.

He said choosing anyone aside Ms. Narh would mean the person will now have to take time to learn the organisational structure of the Bank.
Reports say staff of the Bank wants Dr Wampah's his first Deputy, Ms Narh to be appointed a substantive governor while the appointing authority is said to have a soft spot for the second Deputy, Isahaku.

“No employment relation is everlasting and so it is very important that we put structures in place to get a replacement. There should be systems in place to train people to replace those who leave the organization,” he said.

Mr Amada said “the situation also depends on the bank’s policy but when you bring people from outside they have to learn the culture so getting people from within is the best option and the Bank should go for Millison Narh”.

Mr. Adama advised that the appointment is devoid of politics and "look at who can deliver. If the person there has the potential, we must appoint him to do the job”.