BoG Governor Dr. Ernest Addison officially informs President Mahama of his exit

Dr. Addison met with President Mahama on Friday, January 31, 2025, to formally communicate his exit from the central bank.

Following this meeting, the Bank of Ghana announced that he would begin his terminal leave on February 3, 2025.

In a statement, the central bank confirmed, “The public is hereby informed that from February 3, 2025, the Governor of the Bank of Ghana, Dr. Ernest Addison, will start his terminal leave ahead of his retirement from the Bank. Dr. Addison was appointed on April 3, 2017, and reappointed for a second term on March 29, 2021.

“In line with the Bank of Ghana Act, 2002 (Act 612), as amended, his tenure as Governor of the Bank of Ghana will end on March 28, 2025, after he successfully served two full terms.

“Accordingly, Dr. Ernest Addison has decided to take his accumulated leave, effective February 3, 2025, ahead of his retirement from the Bank on March 28, 2025. This has received the approval of H.E. President John Mahama. 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,” the statement read.

Meanwhile, President John Dramani Mahama has tapped Dr. Johnson Asiamah, a seasoned economist and former Second Deputy Governor of the Bank of Ghana, to lead the apex bank, pending approval by the Council of State.

Dr. Asiamah held the role of Second Deputy Governor between 2016 and 2017 and brings over 23 years of experience at the Central Bank.

A holder of a PhD in Economics from the University of Southampton in the UK, Dr. Asiamah is known for his extensive expertise in monetary policy formulation, financial stability regulation, and economic research.

If approved, Dr. Asiamah will take over leadership of the central bank, overseeing monetary policies and financial stability in the country.