Professor Ransford Gyampo, a distinguished political science lecturer at the University of Ghana, has voiced sharp criticism against Dr. Ernest Addison, the Governor of the Bank of Ghana (BoG), for what he perceives as an “arrogant” response to the OccupyBoG movement.
In an open letter addressed to Dr. Addison, Prof. Gyampo delivered a stern message, stating, “Whether you resign or not, you would by all means, account one day, for your stewardship either in heaven or in hell or in prison or in your home.”
The controversy stems from Dr. Addison’s dismissal of calls for his resignation, primarily emanating from the opposition National Democratic Congress (NDC) and the Minority caucus in Parliament. In an interview with the international business website Central Banking, Dr. Addison firmly asserted that he would not step down, labeling the NDC-led protests as “completely unnecessary.”
Furthermore, Dr. Addison commented on the matter, saying, “The Minority in parliament have many channels to channel their grievances in civilized societies, not through demonstrations in the streets as hooligans,” in reference to the #OccupyBoGProtest.
Prof. Gyampo’s open letter goes on to accuse the Governor of various actions, including spending approximately GH¢137 million on vehicle maintenance, overseeing the collapse of over 400 banks and micro-finance companies, printing an excessive amount of GH¢700 trillion within just two years, and depleting foreign reserves. He questions the Governor’s response to taxpayers’ discontent, asserting that it reflects a preference for partisanship over competence.
Prof. Gyampo urges Dr. Addison to remember that “printing money does not make you the owner of human life and human rights.” He emphasizes that previous Bank of Ghana Governors, such as G.K. Agamah, K. Dufuor, P. Acquah, and N. Ishahakku, were characterized by their sobriety and competence, implying that the current Governor’s behavior falls short of these standards.