President John Dramani Mahama has reposed his confidence in Dr. Johnson Asiama, Governor of the Bank of Ghana’s sterling leadership as opposed to the concerns raised by the New Patriotic Party (NPP).
Following his appointment as Governor of the Central Bank of Ghana, Dr. Asiama has been subjected to a myriad of backlash from the opposition party regarding the legality and suitability of his appointment.
The opposition party maintained that Dr. Asiama’s past legal challenges pose a threat to his ability to steer Ghana’s financial sector.
According to the minority, Dr. Asiama was heavily involved in the collapse of the UniBank and UT Bank, for which he was facing trial at the court before the official dissolution of the charges by the Attorney General, Dr. Dominic Ayine.
However, during the swearing-in ceremony of Dr. Johnson Asiama as Governor and Dr. Zakari Mumuni as First Deputy Governor of the Bank of Ghana, at the Flagstaff House in Accra on Tuesday, February 25, 2025, President Mahama defended Dr. Asiama’s appointment, emphasising the need for experienced and decisive leadership to address the challenges facing Ghana’s financial sector.
President Mahama said, “Ghana’s financial sector is in crisis and the task ahead demands experience foresight and decisive leadership. With Dr Asiama heading the Bank of Ghana, I am confident that we will rebuild trust in the institution, restore stability, and put our economy back on the path of sustained growth."
“I trust him with this responsibility, knowing that he will serve with greater diligence and excellence,” he stated.
Meanwhile, President John Dramani Mahama has criticized the former leadership of the Bank of Ghana for its handling of the banking sector clean-up exercise, arguing that the approach neglected the human impact of the decisions made during that period.
The Bank of Ghana’s controversial banking sector clean-up exercise saw the closure of several Indigenous financial institutions, leading to the loss of jobs for so many Ghanaians.
President Mahama noted that the exercise has posed dire consequences on the livelihoods of both staff and customers of the defunct banks, thereby adding to the severe economic challenges being faced by the country currently.
“During the supposed banking sector clean-up exercise, the Bank of Ghana had the opportunity to salvage some institutions to protect livelihoods while ensuring stability, but instead, an approach that ignored human consequences prevailed.
“Thousands of jobs were lost and lives disrupted because decisions were made with a narrow focus rather than considerations of the human impact,” Mahama said.
The President charged the Bank of Ghana’s new leadership to extend beyond technical expertise and urged them to consider the human aspects behind the financial statistics.
“Mr. Governor and Deputy Governor, in discharging your mandate, you must go beyond mere technical considerations and act in full recognition that every statistic, every movement on a chart, and every shift in an index is more than just data.
“It is the pulse of an economy, a measure of resilience or distress. Behind numbers are real human stories, dreams either nurtured or shattered, demanding not just your highly extolled analytical expertise but empathy and foresight that acknowledge the profound human consequences of every decision,” he added.
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