President John Dramani Mahama has reaffirmed the urgent need for experienced and decisive leadership in addressing Ghana’s financial sector crisis. Speaking at the swearing-in ceremony of Dr. Johnson Pandit Kwasi Asiama as the new Governor of the Bank of Ghana (BoG) and Dr. Zakaria Mumuni as First Deputy Governor today February 25, 2025, at the Jubilee House, the President expressed confidence in their ability to restore stability and trust in the nation’s monetary system.
“The financial sector is in crisis, and the task ahead demands experience, foresight, and decisive leadership. With Dr. Asiama at the helm, I am confident that we will restore stability, rebuild trust in the institution, and put our economy back on the path of sustained growth,” President Mahama stated.
Describing the appointments as a pivotal step in reinforcing economic governance, the President emphasized that they align with the Bank of Ghana’s constitutional mandate under Article 183 (1-3), which assigns the central bank the responsibility of regulating currency, ensuring monetary stability, and fostering sustainable economic growth.
President Mahama assured the nation that the appointments of Dr. Asiama and Dr. Mumuni adhere to all legal requirements, highlighting their extensive experience and expertise in banking and financial policy.
“The selection of Dr. Asiama and Dr. Mumuni is a deliberate affirmation of our unwavering commitment to professionalism, integrity, and competence as the guiding principles for appointments to high office,” he remarked.
Dr. Asiama’s appointment marks a continuation of his longstanding service at the central bank. He previously served as Second Deputy Governor from 2016 to 2017, where he played a crucial role in financial regulation and economic stabilization.
“His deep expertise in banking supervision, risk management, and digital finance positions him as the right leader for the Bank of Ghana at this critical time,” President Mahama noted. He also acknowledged Dr. Asiama’s contributions to controlling inflation, stabilizing the currency, and enhancing regulatory oversight.
The President also underscored Dr. Mumuni’s extensive expertise in banking, financial markets, and economic policy. With over two decades of service at the BoG, Dr. Mumuni has been instrumental in shaping financial policies and promoting economic stability.
“As First Deputy Governor, he will be a key pillar in supporting Dr. Asiama, implementing policies, enforcing regulatory oversight, and navigating the economic challenges ahead,” President Mahama stated.
In conclusion, President Mahama urged the new leadership of the BoG to work closely with key institutions, including the Ministry of Finance, Parliament, and the broader financial sector, while maintaining the independence necessary for sound monetary governance.
“I am confident in your expertise, vision, and integrity to discharge your mandate with excellence,” he concluded, congratulating the newly appointed Governor and Deputy Governor.
The swearing-in ceremony, which included the formal oath of office and presentation of instruments of appointment, marks a significant step in Ghana’s efforts to stabilize its financial sector and restore public confidence in economic governance.
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