The National Democratic Congress (NDC) in 2023 on numerous occasions promised to jail the Bank of Ghana Governor Ernest Addison once they regain power in the 2024 elections.
According to the NDC, Dr. Ernest Addison will be jailed for his role in the collapse of the Central Bank of Ghana. They noted that the once-well-regarded Bank of Ghana has now been bankrupted due to poor management.
In the 2022 fiscal year, the Bank of Ghana reported a GHC 60 billion loss which the Central Bank attributes to the Domestic Debt Exchange Programme (DDEP) and rising inflation.
The BoG losses triggered public discussion and increased political tension, with the NDC blaming the BoG for gross monetary negligence and lack of accountability.
The NDC minority caucus in parliament also exposed Ernest Addison for printing huge sums of money which caused Ghana’s depreciation of the cedi, they accused the Central Bank of being a crime scene with Ghana’s debt rising from GHS120 billion in 2016 to GHS600 billion in 2022.
Sammy Gyamfi, the National communication officer of the National Democratic Congress (NDC) in an interview on Onua TV on August 9, 2023, revealed that the Governor of the Central Bank, Ernest Addison, and the Bank’s board are jailed-bound for their decisions that led to the bank sustaining a whopping GHC 60 billion loss.
“Ernest Addison is jail-bound. He is destined for jail. There is no way Addison will not be prosecuted, there is no way,” he declared.
Sam Okudzeto Ablakwa speaking on Good Morning Ghana, the member of parliament stated, “I don’t know what is happening this year. If you follow this international central bank news, it’s been a year of bad governance. In Nigeria, the former central bank governor has been jailed, he is being prosecuted. If you go to Lebanon, their former governor has also been blacklisted by the UK and the US, he has been indicted”.
“In Slovakia, their former governor is facing criminal prosecution by all indications, Governor Addison will be adding to that list. If you look at the punishment for printing all that money without parliamentary approval is either a fine or a two-year jail term,” Ablakwa revealed.
The Chairperson of Ghana’s Electoral Commission (EC), Jean Mensa, has officially declared John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), as the President-elect in the 2024 general election.
It remains to be seen if the NDC will truly be able to jail the Bank of Ghana Governor Ernest Addison for sustaining a whopping GHC60 billion loss after John Mahama is sworn in as president on January 7, 2025.
