Sydney Casely-Hayford

Financial analyst, Sydney Casely Hayford, says the immediate past Governor of the Bank of Ghana, Dr. Henry Kofi Wampah, should have resigned from his position after he was criticized by President John Mahama in the State of the Nation address.

Speaking on Citi FM’s political analysis show, The Big Issue, on Saturday, Mr. Casely-Hayford said “If I were Wampah, at that stage, I would walk. Since the public accusation by the President in the state of the nation address, that Wampah did not supervise as the Governor of the bank the activities of microfinance companies, he should have resigned on that day because I’m being told in in a state delivery that I’m incompetent.”

Mr. Casely-Hayford also said it was unfair that the President blamed Dr. Wampah for the things that happened in the microfinance industry, such as the DKM Microfinance scandal.

“In that particular instant, I think that he was accused unfairly of not doing the right thing with managing the microfinance industry.”

Dr. Henry Kofi Wampah resigned as the Governor of the central bank on Thursday March 31, 2016, five months ahead of his retirement.

He has been criticized for overseeing the continuous depreciation of the cedi and for what some call his failure  to check the activities of some dubious microfinance companies.

During the State of the Nation address, the President criticized the Bank of Ghana over their poor supervision of the microfinance sector, but was quick to point out that he could not fire the Governor of the central bank.

Source: citifmonline.com

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