Dr. Ernest Addison, governor of the Bank of Ghana (BoG), has expressed grave concerns about the practice of keeping sizable sums of foreign currency at home.
There are rumors that powerful people, including the nation’s top officials, are keeping a significant amount of foreign currency in their homes.
Dr. Addison addressed the matter after it came to light during an alleged theft case at the home of the former Sanitation Minister, Cecilia Dapaah.
He expressed his concern about this alarming trend at a press conference that was part of the 113th Monetary Policy Committee meeting on July 24, 2023.
The BoG Governor added that because the matter is currently in court, there are restrictions on how much information can be shared at this time.
The Bank of Ghana has taken significant action in response to current economic challenges and to maintain financial stability in the nation.
It has declared that its monetary policy rate will rise noticeably to 30%.
The central bank’s proactive efforts to address economic risks and maintain monetary stability in the face of the current challenges are reflected in this decision.
Watch the video below;
Greater Accra: ‘It’s a worry to us’ – BoG governor on individuals keeping dollars at home#UTVNews pic.twitter.com/nDymsKkdIq
— UTV Ghana (@utvghana) July 24, 2023
Relatively, the former Minister for Water Resources and Sanitation, Cecilia Abena Dapaah, has been detained, according to the Office of the Special Prosecutor.
The former Minister was detained, per the OSP, in connection with alleged theft of sizable sums of money from her home as well as other corruption-related offenses.
The OSP stated in a statement that was sent to the media: “At 11:55 GMT on 24 July 2023, Cecilia Abena Dapaah, who resigned the position of Minister of Sanitation and Water Resources on 22 July 2023, was placed under arrest by the Office of the Special Prosecutor (OSP) in respect of suspected corruption and corrution-related offences regarding large amounts of money and other valuable items reportedly stolen from her residence.”
