Bank of Ghana Governor Dr Johnson Asiama has disclosed in Accra that he resigned from the Board of Directors of the Ghana Gold Board about 5 months ago and no longer attends its meetings following public concerns over conflict of interest.
The Governor faced intense scrutiny after his name appeared on the GoldBod board while serving as central bank head. Critics argued the dual role blurred regulatory lines because Bank of Ghana regulates gold export proceeds and forex inflows. The debate raised questions about independence of monetary policy.
He has now clarified the record to restore confidence. According to Dr Johnson Asiama, he exited the GoldBod board about 5 months ago and has since stopped participating in all its deliberations and meetings. He stressed that his current focus remains strictly on central banking duties.
Ghana Gold Board known as GoldBod is the state entity mandated to oversee gold trading, assaying and value addition to boost foreign exchange retention. Bank of Ghana on the other hand manages currency stability, inflation targeting and forex rules under the Bank of Ghana Act. The central bank also monitors gold export repatriation which directly impacts reserves and cedi stability.
The clarification comes at a time when Bank of Ghana is tightening oversight under its 132nd Monetary Policy Committee framework and new IMF Policy Coordination Instrument. The Governor is expected to maintain strict separation to avoid any perceived conflict and to protect monetary policy credibility. Observers say early resignation helps safeguard institutional integrity.
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Author: Stella Sunu
