Opinions are divided over whether the current Bank of Ghana governor, Dr Abdul-Nashiru Issahaku, should be allowed to serve his term, following the electoral victory of the New Patriotic Party’s presidential candidate, Nana Addo Dankwa Akufo-Addo.

While the former Finance Minister and a Member of Parliament’s Finance Committee Dr Anthony Akoto Osei believes the governor of the central bank should voluntarily step down, the Chief Executive Officer of Dalex Finance and Leasing Company Limited, Kenneth Kwamena Thompson and Former President of the Ghana Bar Association, Mr. Sam Okudzeto have kicked against any move to negotiate the exit of a BoG governor.

Replacing the Central Bank boss, according to Mr Thompson, will have dire implications for the economy, as the incoming government will have to dole out huge sums of money as a payoff to the governor and is likely to affect investor confidence in the short term.

“For the purposes of proper governance, he should be allowed to serve his term. I don’t see the reason why the governor, who has been appointed and approved by all, cannot work with the new government. I think as a country we must go beyond the so-called precedence that was set. Let’s do the right thing as we look beyond the personality and look at the institution and see how actions impact on the institutions,” he told the B&FT.

“It is very sad because this whole debate that has been ignited, I believe, has to do with some individual’s personal interest. But Akufo-Addo the President-elect must allow the institutions to work which I think will be to his advantage as well,” he added.

“It is very sad because this whole debate that has been ignited, I believe, has to do with some individual’s personal interest. But Akufo-Addo the President-elect must allow the institutions to work which I think will be to his advantage as well,” he added.

Mr Thompson also slated the assertion that the current governor may not believe in the economic policies and the direction the new government may want to pursue.

According to him, if the NPP government will fail, it will be their inability to implement sound and better economic policies but not the individual that heads the central bank.

“Look, if the NPP will fail, they will fail and that will not be because of the governor of the Bank of Ghana but it will be because they have bad economic policies. I think the argument has to do more with people’s personal interest than really what is good for the country, this shouldn’t be a big deal.”

B&FT