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CDM Demands Immediate Suspension of Dr. Asiama’s Appointment as Bank of Ghana Governor
The Centre for Democratic Movement (CDM) has called for the immediate suspension of Dr. Johnson Asiama’s appointment as Governor of the Bank of Ghana (BoG), citing unresolved legal and ethical concerns that threaten the integrity of Ghana’s financial system.
The group argues that Dr. Asiama’s controversial past, particularly his alleged involvement in the financial sector crisis, disqualifies him from leading the country’s central bank.
CDM insists that Dr. Asiama’s appointment violates multiple provisions of the 1992 Constitution of Ghana, including Article 286(1), which mandates asset and liability declarations for public officers before assuming office.
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The group highlights that unresolved allegations regarding Dr. Asiama’s role in the collapse of UniBank and UT Bank cast doubt on his transparency and accountability.
Furthermore, CDM points to Article 35(8) of the Constitution, which obligates the state to eradicate corruption and prevent the abuse of power.
The appointment of an individual with a controversial financial history, the group argues, runs contrary to this constitutional mandate. Under Section 10 of the Bank of Ghana Act, 2002 (Act 612), the Governor must also be a person of “recognised integrity, competence, and experience in financial matters.” CDM believes Dr. Asiama fails to meet these stringent requirements.
As a signatory to the United Nations Convention Against Corruption (UNCAC), Ghana is expected to uphold merit-based and transparent selection processes for key financial leadership positions. CDM warns that the appointment of Dr. Asiama without addressing the concerns surrounding his past puts Ghana in breach of its international obligations.
Additionally, the Financial Action Task Force (FATF), the global financial crime watchdog, emphasises that leadership in central banks should be free from ethical controversies to maintain public trust.
CDM argues that Dr. Asiama’s appointment could raise red flags among international financial institutions, including the International Monetary Fund (IMF) and the World Bank.
CDM asserts that public confidence in the Bank of Ghana is crucial for economic stability, and the appointment of a controversial figure only deepens scepticism about the government’s commitment to financial oversight. The withdrawal of legal charges against Dr. Asiama before his appointment has further fuelled speculation that political considerations have taken precedence over ethical governance.
“The appointment of Dr. Asiama sends the wrong signal both locally and internationally,” CDM stated. “Ghana’s financial credibility should not be sacrificed for political convenience.”
The Centre for Democratic Movement is calling on President John Dramani Mahama to take urgent steps to reverse this appointment. The group has outlined the following demands:
- The immediate suspension of Dr. Asiama’s appointment until all legal and ethical concerns are addressed.
- A parliamentary inquiry into the selection process and the circumstances surrounding the withdrawal of charges against him.
- Strict adherence to constitutional and international financial governance standards in appointing future Bank of Ghana governors.
Should the government fail to act, CDM has vowed to escalate the matter by petitioning key international bodies, including:
- The European Union Representative in Ghana
- The International Monetary Fund (IMF)
- The World Bank
- The U.S. Embassy
- The Chinese Embassy
- Other major diplomatic missions and financial institutions
The group warns that failure to suspend Dr. Asiama’s appointment could lead to increased scrutiny from international financial watchdogs, potentially affecting Ghana’s access to global financial assistance and investor confidence.
CDM insists that Ghana’s financial governance must be guided by integrity, accountability, and transparency. The government, the group argues, must prioritise credibility over political loyalty when selecting leaders for crucial institutions like the Bank of Ghana.
“The world is watching,” CDM cautioned. “Ghana cannot afford to be seen as a country that rewards individuals with unresolved financial allegations with high-profile appointments. President Mahama must act now to prevent further damage to Ghana’s reputation.”
Read the full statement of the release here:
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