BoG Board Inaugurated

A legal hurdle which had hindered the full operation of the Bank of Ghana (BoG) for about a year has been resolved, paving the way for the inauguration of the bank�s board by President John Evans Atta Mills. The members of the board are Mr Amissah Arthur, Governor of the BoG and Chairman of the Board; Mr Henry Wampah, a Deputy Governor; Mr Millison Narh, a Deputy Governor; Dr Sydney Laryea and Mrs Lily Esther Nkansah. The rest are Togbe Afede, Mr Sam Appah, Dr Obo Andah, Mr Kweku Bram Larbi and Mr Seth Tekper, a Deputy Minister of Finance. Before the inauguration, the government had sought and earned clearance from the High Court to proceed with the business to enable the bank to operate with the board in place. The court angle had to be dealt with because Mr Sam Okudzeto, a lawyer and leading member of the New Patriotic Party (NPP), had sued the government for alleged wrongful dismissal and dissolution of the previous board, claiming that the action of President Mills in dissolving the board and reconstituting it amounted to a flagrant violation of the law. The Attorney-General and Minister of Justice, Mrs Betty Mould Iddrisu, however, had objected to Mr Okudzeto�s locus to prosecute the case, arguing that his appointment to the board by former President John Agyekum Kufuor was done without consulting the Council of State and, therefore, void. In the circumstance, the court, presided over by Justice Aduamah Osei, agreed to a compromise arrangement between the two. Inaugurating the board, President Mills expressed delight that �it has now become possible to inaugurate this important institution�. He urged the board to come up with policies that would help the government to realise its �better Ghana� agenda. He said as people who were well equipped with the financial challenges confronting the country, there was the need for them to use their expertise and experiences to confront those challenges. He pledged the government�s support and commitment to enable the members to realise their vision. Togbe Afede, on behalf of his colleagues, thanked the President for honouring them with that opportunity to serve the country. He said well aware of the economic situation the government had inherited and the vision of the President to improve the economy and the well-being of the people, the board would put in its best. �We shall be guided by the interest of the people. We shall be guided by all these to pledge our total commitment to this cause,� he stressed.