Calls for dismissal of BOST Chair premature – COPEC


The Chamber of Petroleum Consumers Ghana (COPEC) has shot down calls for the sacking of the Board Chair of the Bulk Oil Storage and Transport Company (BOST).

A group calling itself the Africa Center for Integrity and Development petitioned President Akufo-Addo to immediately relieve Dr Kyei over what they claim is his involvement in the collapse of Sovereign Bank.

According to the group, Dr Kyei presided over the criminal act of high magnitude during his tenure as Board Chairman of the defunct Sovereign Bank, therefore he is unfit to a similar position of a crucial state entity such as BOST.

But Speaking on Starr Today Wednesday, the Executive Director of COPEC, Duncan Amoah described the call by the Africa Center for Integrity and Development as “premature” noting that the reasons assigned for the dismissal of Dr Kyei are not convincing.

“We think it is premature. It is not a very convincing argument. We think that BOST is not in any danger whatsoever, neither are we able to say for a fact that Chairperson for the board of BOST has any prima facie case established against him, talk lest of guilt being proven.

“And so while the banking system collapse issue is a concern to all of us, we would rather caution that we should tread cautiously in order not to bruise people’s integrity anyhow. We are also a bit hesitant to join the call for his removal from BOST because we know that he has done a thorough job since becoming the Chairperson for BOST,” he told Starr Today’s Atiewin Mbillah-Lawson.

He added, “We do not have any evidence to suggest that he acted in bad faith in his current position as the Chairperson for BOST. We rather think that his experiences both in private and corporate is of a great addition to BOST itself…We should exercise a bit of restraint in just asking that he should go because of one lapse in one institution he probably was on. I don’t think that his integrity is in question at all.”

The Central Bank on August 1 merged Unibank, The Royal Bank, Sovereign Bank, The Construction Bank and Beige Bank under the new name Consolidated Bank of Ghana Limited.

The move, according to the governor of the Central Bank Ernest Addison was aimed at ensuring that the banking sector maintains a strong indigenous presence.


Source: Ghana/



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