According to the National Democratic Congress (NDC), Dr. Ernest Addison, the governor of the Bank of Ghana (BoG), is partially to blame for the nation’s economic difficulties due to his poor management and careless financial decisions.
The Minority Leader in Parliament, Dr. Cassiel Ato Forson, spoke on Asempa FM’s Ekosii Sen and made several references to the Bank of Ghana’s Annual Report, which showed how significant sums of money were wasted on what he called pointless administrative expenses.
Dr. Ato Forson claims that the country has suffered greatly as a result of the Governor’s carelessness and incompetence in allegedly conspiring with the Vice President, Dr. Mahamudu Bawumia, and the Finance Minister, Ken Ofori-Atta.
“The Governor has messed us up big time, he has imposed an illegal inflation tax on the people, inflation is a tax and its an illegal tax because it does not have legislation.
“That is why today when you go to the market, things that you used to buy at one cedi, the next day you go in and you’re buying it at five cedis. Clearly, this takes away your disposable income.
“This is how the Governor of the Central Bank, Dr Ernest Addison, who is now known as the ‘Printer of Money’, conspired with members of the economic mismanagement team led by the failed Alhaji Mahamudu Bawumia and the inept Finance Minister Ken Ofori-Atta aka ‘One Problem, One Bond’, to destroy Ghana’s Central Bank.”
According to Dr. Ato Forson, who cited the BoG report that was published last week, the BoG has spent approximately GH97.4 million on domestic and international travel, a 246% increase from the prior year.
Dr. Forson also noted that the Bank claimed to have spent GH357.9 million on Banking Supervision Expenses, GH287.8 million on other undeclared expenses, and GH250 million on the building of a new head office close to Ridge, Accra.
Additionally, the NDC claims that illegal money printing by the Central Bank is to blame for the depletion of Ghana’s foreign reserves.
“This resulted in the unprecedented depreciation of the Cedi, the main cause of hyperinflation in 2022 resulting in the 850,000 people who were reported to have been pushed down the poverty line,” the Minority Leader stated.
The NDC has demanded that Dr. Ernest Addison, Governor of the Bank of Ghana, and his appointees resign within 21 days.
If the governor does not step down within the allotted time, the party claims it will organize Ghanaians to picket the Central Bank.
