Bank of Ghana Governor bows out … After four-year statutory tenure

Dr. Wampah

Dr. Wampah

The Governor of the Bank of Ghana, Dr. Henry Kofi Wampah, has confirmed that he will retire from the bank at the end of March 2016.

Dr. Wampah, whose term officially ends on August 5, but leaving early in view of his outstanding in an interview with Reuters said he had informed President John Mahama of his intention to leave early, adding that the decision was partly linked to presidential and parliamentary elections planned for November.

“I told him I wanted to leave office early and we have agreed that I will exit at the end of March,” Wampah said.

“It is just fair to leave early in order to give enough room for my successor, whoever it might be, to settle down before we get to the elections,” he said.

Dr. Wampah said one of his two deputies, either Millison Narh or Abdul Nashiru Issahaku, was expected serve as interim central bank governor until Mahama chooses a permanent successor.

According to the Bank of Ghana Act, 2002, Act 612, a Governor appointed to head the Central Bank has a four-year tenure in office.

The Ghanaian Times has also learnt that Dr. Wampah, at a meeting last Tuesday, officially notified the board of the bank of his decision not to seek a second term in office and thanked them for their support during his tenure, according to a source close to the Central Bank.

Dr. Wampah, who will be sixty-two years this year, joined the Bank of Ghana in 1986 as Deputy Manager and rose through the ranks to become the Governor of the bank.

He was appointed acting Governor of the bank in August 2012 and was confirmed following the nomination of the then Governor of the Bank, Paa Kwesi Amissah-Arthur, as the Vice President to President John Dramani Mahama.

He was confirmed in April 2013 to take retrospective effect from August 2012.

By Times Reporter 

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