The Center for Democratic Movement (CDM) has demanded the immediate suspension of Dr. Johnson Asiama’s appointment as Governor of the Bank of Ghana, citing unresolved legal issues and ethical concerns.
The movement has also called for a parliamentary inquiry into the selection and appointment process and the unprecedented withdrawal of legal charges against him.
In a statement on Thursday, CDM condemned the appointment, stressing that the decision undermines constitutional principles, financial oversight, and public confidence in the banking system.
The group warned that if the government fails to act, it will petition key international bodies, including the IMF, World Bank, European Union, U.S. Embassy, Chinese Embassy, and other diplomatic missions, to expose the risks of unethical financial governance.
The statement described the appointment as “reckless” and accused President John Dramani Mahama of prioritizing political interests over financial integrity.
CDM raised concerns over Dr. Asiama’s alleged role in Ghana’s financial sector crisis, particularly regarding the collapse of UniBank and UT Bank.
The group cited Article 286(1) of the 1992 Constitution, which mandates that public officers declare their assets before assuming office, and Article 35(8), which calls for the eradication of corruption and abuse of power.
“The appointment of the BoG Governor must align with constitutional and ethical standards. Given the unresolved allegations surrounding Dr. Asiama, this appointment directly undermines transparency and accountability,” the statement read.
CDM also referenced Section 10 of the Bank of Ghana Act, 2002 (Act 612), which requires the Governor to be a person of “recognized integrity, competence, and experience in financial matters.”
The group argues that Dr. Asiama’s controversial past makes him unfit for the position.
The statement also criticized the government for disregarding international financial governance principles. CDM pointed to Article 7 of the United Nations Convention Against Corruption (UNCAC), which emphasizes merit-based and transparent selection processes for public officials.
“The Financial Action Task Force (FATF) and global financial institutions emphasize the importance of ethical leadership in central banks. Yet, Ghana is setting a dangerous precedent by appointing someone with unresolved financial misconduct concerns,” the statement said.
CDM warned that Dr. Asiama’s appointment could further erode confidence in Ghana’s financial sector, especially following the government’s withdrawal of legal charges against him.
“This decision sends a troubling message that political considerations outweigh ethical governance. If the government is serious about restoring trust in our financial institutions, it must prioritize merit-based appointments over partisan favouritism,” the group noted.
CDM also questioned why President Mahama is determined to reinstate Dr. Asiama despite the controversy.
According to the group, Ghana has countless competent professionals capable of leading the Bank of Ghana, yet the President seems insistent on bringing back Dr. Asiama.
“Is this a case of political payback, or is there another agenda at play? The world is watching, and Ghana cannot afford to be seen as a country that rewards individuals with unresolved financial allegations with high-profile appointments,” it added.
CDM emphasized that Ghana’s financial credibility should not be sacrificed for political convenience and urged the government to take immediate corrective action.
“This reckless decision threatens investor confidence and casts doubt on Ghana’s commitment to ethical governance and the rule of law,” the statement stressed.
