BoG Governor to proceed on terminal leave ahead of retirement

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison will from Monday February 3, 2025 proceed on a terminal leave as he prepares for retirement.

Information from the Central Bank confirms that Dr. Addison who has served as Governor since April 2017 is embarking on the leave ahead of his official exit on March 28, 2025, after successfully serving two full terms.

This move aligns with the Bank of Ghana Act, 2002 (Act 612), as amended, which stipulates that the Governor’s tenure is a four-year term, renewable only once.

The Governor’s leave has received the approval of President John Dramani Mahama.

Dr. Ernest Addison was first appointed on April 3, 2017 and was reappointed for a second term on March 29, 2021.

The Bank of Ghana thanks the Governor for his meritorious and distinguished service to the Bank and the Republic and wishes Dr. Ernest Addison a restful retirement”, a release issued by the Communications Department of the Bank stated.

New Governor nominated

Meanwhile, President John Dramani Mahama has nominated Dr. Johnson Asiamah to serve as Governor of the Bank of Ghana pending approval by the Council of State.

Dr. Johnson Asiamah who previously served as a Second Deputy Governor of the Bank of Ghana between 2016 and 2017, holds a PhD in Economics from the University of Southampton, UK and has extensive experience in monetary policy formulation, financial stability regulation and economic research.

He has a wealth of experience in the banking having worked at the Bank of Ghana for over 23 years.

He has over the years demonstrated commitment to implementing sound monetary and exchange rate policy, foster a stable financial system, as well as promoting accelerated economic growth in Ghana.

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