By Enoch 
In a recent development, the Centre for Democratic Movement (CDM) has called upon President John Dramani Mahama to reconsider and revoke the appointment of Dr. Johnson Asiama as the acting Governor of the Bank of Ghana (BoG).
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The CDM’s concerns revolve around Dr. Asiama’s past involvement in the financial sector, particularly his association with the collapse of UniBank and UT Bank, which have left indelible marks on the Ghanaian banking landscape.
The Controversial Appointment
Dr. Johnson Asiama, a seasoned economist with extensive experience in the financial sector, was appointed as the acting Governor of the Bank of Ghana in January 2025. His appointment, however, has been met with significant opposition from various quarters, including the CDM.
The movement has raised serious concerns regarding Dr. Asiama’s past, specifically highlighting unresolved legal and ethical issues that they believe undermine his suitability for the role.
The CDM argues that Dr. Asiama’s involvement in the financial crises that led to the collapse of UniBank and UT Bank cannot be overlooked. These institutions were part of a broader financial crisis that shook the foundations of Ghana’s banking sector, leading to significant losses for depositors and stakeholders.
The CDM contends that appointing an individual with such a controversial history to the highest position in the Bank of Ghana sends the wrong message about accountability and transparency in the financial sector.
Unresolved Legal Issues
One of the core concerns raised by the CDM pertains to unresolved legal issues surrounding Dr. Asiama. During his tenure at the Bank of Ghana and subsequent involvement with UniBank and UT Bank, Dr. Asiama was implicated in various legal disputes. These disputes, some of which are still pending, cast a shadow over his professional integrity and raise questions about his ability to lead the central bank effectively.
The CDM emphasizes that Ghana’s banking system needs leaders who are not only experienced and knowledgeable but also free from any legal or ethical entanglements. They argue that Dr. Asiama’s appointment, given his unresolved legal troubles, undermines public confidence in the banking system and sets a concerning precedent for future appointments.
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Violation of Constitutional Principles
In addition to legal concerns, the CDM also highlights potential violations of constitutional principles in Dr. Asiama’s appointment. They argue that the process of his appointment did not adhere to the principles of transparency and meritocracy that are enshrined in the Ghanaian constitution. The CDM contends that appointing an individual with unresolved ethical and legal issues contradicts the values of accountability and integrity that should guide public office appointments.
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The movement has called for a thorough review of the appointment process, urging President Mahama to prioritize candidates with unblemished records and proven track records of ethical leadership. They believe that such a move would restore public trust in the Bank of Ghana and reinforce the principles of good governance.
Public Reaction and Implications
The CDM’s call for the revocation of Dr. Asiama’s appointment has sparked widespread debate among the Ghanaian public. While some support the movement’s stance, arguing that it is essential to uphold accountability and integrity in public office, others believe that Dr. Asiama’s expertise and experience make him a suitable candidate for the role.
The controversy surrounding Dr. Asiama’s appointment has significant implications for Ghana’s banking sector and the broader financial landscape. The Bank of Ghana, as the central bank, plays a crucial role in regulating and overseeing the financial system. Any questions regarding the integrity and suitability of its leadership can have far-reaching consequences for investor confidence, financial stability, and economic growth.
Accountability
The Centre for Democratic Movement’s call for President Mahama to revoke Dr. Johnson Asiama’s appointment as the acting Governor of the Bank of Ghana underscores the importance of transparency, accountability, and ethical leadership in public office. As the debate continues, it is crucial for stakeholders to consider the broader implications of this appointment on Ghana’s financial sector and the principles of good governance.
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The resolution of this issue will not only determine the future leadership of the Bank of Ghana but also set a precedent for how the country addresses concerns related to public office appointments. It is a moment for Ghana to reaffirm its commitment to integrity and accountability, ensuring that its financial system is led by individuals who inspire confidence and trust among the public and investors alike.
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