Former Member of Parliament for Tamale Central Constituency, Alhaji Inusah Fuseini says the Minority in Parliament should have been pushing for the arrest of the Governor of Bank of Ghana, Dr. Ernest Addison instead of demanding his resignation.
According to Inusah Fuseini, the BoG Governor flagrantly breached the laws of the country when he led the institution to lend more than 5 percent of its previous year’s revenue to government and proceeded to write part of the debt off without seeking approval from Parliament.
He noted that the BoG and the Public Financial Management Acts clearly prohibit such actions hence, he expected Dr. Addison to stand his grounds even if he was under pressure from the executive to act otherwise.
“They ought to have called for his arrest. There have been a violent and flagrant breach of the Bank of Ghana Act. And the least we expect of public officers is to give fidelity to the law,” he stated.
Adding, “The law establishing the Bank of Ghana passed by Parliament says that the BoG can undertake certain activities. It gives a threshold and benchmark. There are also procedural requirements all captured in Section 30. Tell me, which of those requirements were followed by the BoG?
But that is the law, that’s the legal framework that establishes the mandate of the bank. Section 67 of the Act says that any infringement of the provisions is an offense punishable summarily by 2 years imprisonment”.
Accusing the Governor of conspiring with the Finance Minister and the Presidency to engage in acts that bother on criminality, Alhaji Inusah said the action of the BoG and its Governor has plunged the country into crisis and pushed many Ghanaians into abject poverty.
This, he argued, is unpardonable thus, they should be held accountable.
“To connive, conspire to wreck havoc on the economy and put a lot of people into poverty and hardship is an pardonable offense that people who have led us into this situation must be held accountable”.
The Minority in Parliament, at a press conference on Tuesday, August 8, 2023, accused Governor of the BoG and his deputies of mismanaging the affairs of the Central Bank and engaging in illegality.
They claimed the heads of the BoG superintended over wastage of the bank’s resources on what they considered frivolous expenditure and illegally writing off huge loans they had lent to the government, resulting in unprecedented loss.
They also raised concern about the decision of the Central Bank to expend about $250 million to put up a new head office and issued a 21-day ultimatum for the Governor and his deputies to vacate their post.
They further served notice of picketing at the Central Bank should the heads of the institution fail to abide by their demands.
But speaking on NewsFile on JoyNews TV, Alhaji Inusah Fuseini said “NDC has been very charitable to the governor of the Bank of Ghana”.
