President John Dramani Mahama has expressed full confidence in Dr. Johnson Asiama’s leadership as Governor of the Bank of Ghana, despite concerns raised by the opposition New Patriotic Party (NPP) over his past legal issues.
Dr. Asiama, who has faced criticism from the NPP regarding his involvement in the collapse of UniBank and UT Bank, was subjected to legal challenges prior to the dissolution of charges by the Attorney General, Dr. Dominic Ayine. The opposition argued that his past could undermine his ability to effectively lead Ghana’s financial sector.
However, during the swearing-in ceremony of Dr. Asiama and Dr. Zakari Mumuni as First Deputy Governor of the Bank of Ghana on February 25, 2025, President Mahama strongly defended Dr. Asiama’s appointment. The president emphasized the critical need for experienced leadership to address the current challenges facing the country’s financial sector.
“We are in a financial crisis, and the task ahead requires experience, foresight, and decisive leadership,” President Mahama said. “With Dr. Asiama at the helm, I am confident that we will restore trust in the institution, stabilize the financial system, and set the economy on a path to sustained growth.”
Mahama also expressed his trust in Dr. Asiama’s ability to serve with diligence and excellence, stressing the importance of strong leadership at this crucial time.
In addition, President Mahama criticized the previous leadership of the Bank of Ghana for the controversial banking sector clean-up, which led to the closure of several local financial institutions. The clean-up resulted in significant job losses and disruptions to the livelihoods of many Ghanaians, adding to the nation’s economic challenges.
Mahama argued that the clean-up process failed to account for the human cost, stating, “The Bank of Ghana had the opportunity to protect livelihoods while ensuring stability, but the approach taken disregarded the human impact. Thousands of jobs were lost, and lives disrupted because decisions were made with narrow focus rather than empathy.”
The president urged the new leadership of the Bank of Ghana to take a broader approach that considers not just technical factors but also the human consequences of their decisions. “Every statistic and shift on a chart reflects real human stories. The decisions made must be guided by both analytical expertise and empathy, recognizing the profound human impact behind the data,” Mahama said.
As Dr. Asiama and Dr. Mumuni begin their leadership roles, the President’s comments highlight the importance of both financial expertise and human-centered policies in the rebuilding of Ghana’s financial sector.
