The Center for Democratic Movement (CDM) has strongly opposed the appointment of Dr. Johnson Asiama as the Governor of the Bank of Ghana (BoG), arguing that it compromises the integrity of Ghana’s financial sector. According to CDM, the decision violates constitutional provisions that demand transparency and accountability in leadership appointments. The organization cited Article 286(1) of the 1992 Constitution, which requires public officials to declare their assets before assuming office, and Article 35(8), which mandates the government to combat corruption. Additionally, they referenced the Bank of Ghana Act, 2002 (Act 612), which states that the Governor should be someone of unquestionable integrity and expertise in financial matters. Given Dr. Asiama’s alleged involvement in past banking crises, particularly regarding the collapse of UniBank and UT Bank, CDM believes his appointment fails to meet these standards. The group argued that by selecting someone with unresolved ethical concerns, the government is disregarding Ghana’s financial laws and principles.

Beyond domestic legal concerns, CDM emphasized that Ghana has international obligations under the United Nations Convention Against Corruption (UNCAC), which calls for merit-based and transparent appointments in public financial institutions. The organization also pointed to the Financial Action Task Force (FATF), a global body that advocates for ethical leadership in financial institutions, stating that many developed countries prohibit individuals with unresolved financial misconduct allegations from holding key economic positions. CDM questioned why President John Mahama was eager to reinstate Dr. Asiama despite the availability of other highly qualified candidates. They suggested that the appointment might be politically motivated rather than based on merit. Furthermore, the group raised concerns about the government’s decision to drop legal charges against him, arguing that such actions weaken public trust in Ghana’s financial system and could deter investor confidence.

In response to these concerns, CDM has called on President Mahama to revoke Dr. Asiama’s appointment and ensure that the selection process adheres to constitutional and international financial governance standards. They demanded an immediate suspension of his appointment until all legal and ethical concerns are addressed, as well as a parliamentary inquiry into the process that led to his selection and the withdrawal of charges against him. The organization warned that if the government failed to take action, they would escalate the matter by petitioning international bodies such as the European Union, the International Monetary Fund (IMF), the World Bank, and major diplomatic missions in Ghana. CDM stressed that Ghana’s financial credibility must not be compromised for political reasons, urging the government to prioritize ethical governance and transparency in all appointments. As the controversy unfolds, financial stakeholders, opposition groups, and international observers are closely monitoring the government’s response.