Tension is running high at ARB Apex Bank as unionized staff press the Bank of Ghana (BoG) to immediately address the delay in confirming the contract of Managing Director Alex Kwasi Awuah. The workers warn that the uncertainty surrounding the MD's employment status is undermining confidence, affecting institutional stability, and risking disruptions within the rural banking ecosystem.
The delay has created "growing concerns" within the Bank, raising questions about governance clarity at a time when the rural banking subsector is undergoing regulatory tightening and liquidity pressures. The unionized workers have expressed their deep concern over the undue delay by the Bank of Ghana in issuing the "No Objection" letter for the renewal of the Managing Director's contract.
In a resolution addressed to the Governor of the Bank of Ghana, the workers demand an immediate communication of BoG's decision on the contract confirmation. They caution that any prolonged leadership vacuum could have ripple effects on the country's rural financial system.
The workers emphasize that the prudential role of ARB Apex Bank, including settlement, clearing, liquidity support, and IT infrastructure for Rural and Community Banks (RCBs), makes stable leadership crucial.
The resolution, signed by the General Secretary of the Union of Industry, Commerce and Finance Workers (UNICOF), Euclid Kofi Ohemeng, urges the Governor to act swiftly to avert further unease. The workers have given the Governor seven days to respond, failing which they will consider lawful industrial action to uphold the bank's governance framework and institutional stability.
The resolution has been copied to the Board of ARB Apex Bank, CEOs of Rural and Community Banks, the TUC, National Labour Commission, and other regulatory stakeholders, signaling the workers' readiness for further engagement should the central bank require additional dialogue.
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