KEY POINTS
- Dr. Asiama has been nominated as the new Bank of Ghana Governor.
- His appointment follows Dr. Addison’s upcoming retirement on March 31, 2025.
- Legal charges against him in the UniBank and UT Bank cases were dropped.
President John Dramani Mahama has nominated Dr. Johnson Asiama as the next Governor of the Bank of Ghana, pending approval by the Council of State. The nomination was announced in an official statement released by the Presidency on Friday, January 31, 2025.
The statement confirmed that Dr. Asiama’s nomination follows a formal request from current Governor Dr. Ernest Addison, who will retire on March 31, 2025.
Dr. Asiama is no stranger to the Bank of Ghana, having served as its Second Deputy Governor from 2016 to 2017.
According to Graphic Online, he brings over 23 years of experience in banking and economic policy, holding a PhD in Economics from the University of Southampton, UK. The statement emphasized his expertise in monetary policy formulation, financial stability regulation, and economic research.
A long career in Ghana’s banking sector
The Presidency praised Dr. Asiama’s deep knowledge of Ghana’s financial sector, stating that he has played a crucial role in implementing sound monetary and exchange rate policies. His experience in the central banking system makes him well-positioned to steer Ghana’s economy forward.
According to the official statement, Dr. Asiama has demonstrated a strong commitment to fostering a stable financial system and supporting economic growth.
His appointment is expected to provide continuity in the Bank of Ghana’s policies, particularly at a time when the country faces challenges in currency stability and inflation control.
Dr. Asiama’s nomination comes after a recent legal development, where the Attorney General withdrew all charges against him related to the collapse of UniBank and UT Bank.
Legal clearance before nomination
Before his nomination, Dr. Asiama had been facing trial in two separate cases involving Ghana’s banking sector crisis.
However, in a notice filed at the trial court, the Director of Public Prosecutions (DPP), Yvonne Atakora Obuobisa, stated that the Attorney General had withdrawn all charges against him.
The notice cited sections of the Criminal and Other Offences (Procedure) Act (1960), Act 30, under which the charges were dropped.
Despite Dr. Asiama’s legal clearance, other accused individuals in the UniBank and UT Bank cases will still face trial.
His exoneration has paved the way for his nomination as the next head of Ghana’s central bank, where he is expected to focus on strengthening financial regulations and ensuring economic stability.
