Franklin Cudjoe asserts Ghanaians should receive at least two-thirds refund due to BoG’s losses
Franklin Cudjoe, the Founding President of IMANI-Africa, has suggested that the Governor of the Bank of Ghana and his two deputies, who are facing calls for their resignation due to financial mismanagement, should not only step down but also be required to reimburse a portion of the funds lost as a result of their actions.
Cudjoe believes that such a precedent would hold officials accountable for their actions and prevent mismanagement in the future.
Cudjoe’s comments come in the context of the ongoing controversy surrounding the Bank of Ghana’s financial challenges and the demand for the resignation of its top officials. The Minority Leader, Dr. Cassiel Ato Baah Forson, had given the Governor and his deputies a 21-day ultimatum to resign, threatening to hold daily protests outside the Central Bank’s headquarters if they don’t comply.
Cudjoe’s proposal for the officials to refund a portion of the lost funds aims to make them more directly accountable for their actions and the financial losses incurred by the institution. He suggests that at least two-thirds of the GH¢60.8 billion lost should be reimbursed by the officials.
Professor John Gatsi, the Dean of the Business School of the University of Cape Coast, also supported the idea of sanctions against the officials but emphasized that Parliament should play a role in determining the appropriate actions.
The controversy highlights the importance of accountability in public institutions and the ongoing debate over how to address financial mismanagement within the Bank of Ghana.
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