A Former Deputy Governor of the Bank of Ghana, Emmanuel Asiedu Mante believes the new Government should maintain the BoG Governor so far as he exhibits professionalism in his work.
In his view, the independence of the central bank absolves the Governor from any impact of a change in government.
“The BoG governor would like to operate within the confines of the law. In which case whether a new administration comes or an old one goes, the one there now is a professional and is supposed to work according to the dictates of the law.”
Some economists have asserted that the exit of the current may follow previous conventions.
But Mr. Asiedu Mante tells Citi Business News the Governor could only be removed if his actions flout laid down rules.
“As long as the Governor is professional in his duties there is no need to change him. I don’t think he should step down just because there is a change in government. I believe he is a professional and should be allowed to do his job,” he stated.
“The only way one can remove a governor is when he is not performing but as long as he stays on track and is doing a good job as a governor I don’t think there is a problem. He should be left alone to work,” Mr. Mante further stressed.
Governor of BoG must voluntarily step down in a change of government
Some industry watchers earlier contemplated over the implications of Dr. Abdul-Nashiru Issahaku’s appointment ahead of the general elections last year.
According to the constitution, the four-year term of a governor of the central bank is protected and cannot be dismissed even by the president unless on stated grounds.
Article 183 (4) (d) of the 1992 constitution states that “he shall not be removed from office except on the same grounds and in the same manner as a Justice of the Superior Court of Judicature other than the Chief Justice, may be removed.”
But the industry watchers maintained that even though the governor’s term is secured under the constitution, it would be prudent for him to step down voluntarily if he feels strongly attached to the former government if there is a change of power.
Dr. Abdul Nashir Issahaku assumed office on 1st April, 2016.
He took over from Dr. Henry Kofi Wampah who resigned on March 31, 2016.
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana