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Akufo Addo

Addison, AfDB top official set to replace resigned Ghana’s apex bank’s governor

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Less than 24 hours of the resignation of the Governor of Ghana Central Bank, Abdul-Nashiru Issahaku, indication has emerged that top in the chest of President Nana Akufo-Addo is former head of the research department at the bank, Ernest Addison.

The favoured candidate, Addison is currently working with the African Development Bank (AfDB).

Followers of Ghanaian economy say the sudden resignation of Issahaku may not be unconnected with the outcome of the last presidential election where former President John Dramani Mahama who appointed him in April 2016 after his predecessor, Henry Wampah tendered his resignation six months before the end of his tenure.

The outgoing governor held his last Monetary Policy Committee press briefing on Monday, where he announced a 200 basis point reduction in the bank’s benchmark policy rate from 25.5 per cent to 23.5 per cent.

However, AFP quoted sources within the central bank as saying that Issahaku who officially started his four-year term around September last year tendered his resignation on Wednesday citing personal reasons. Although governors of the central bank have been insulated against political risk through an amended Bank of Ghana Act which assures them the security of tenure, speculations have been rife immediately after the December election that the current government would like the governor to leave office so they could appoint a replacement.


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