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Dr Johnson Asiama is the BoG Governor
The Governor of the Bank of Ghana, Dr Johnson Asiama, has stated that he is under no pressure to reinstate the licenses of financial institutions that were shut down during the banking sector clean-up exercise.
Speaking at a press briefing following the 125th Monetary Policy Committee meeting in Accra on Wednesday, July 30, 2025 he explained that the responsibility to restore these licenses does not rest with him, as affected institutions must go through the appropriate legal and institutional processes.
He further said that any reinstatement would require a court ruling and the involvement of the Bank of Ghana’s board.
Dr Asiama added that many of the cases involving the affected banks are either currently in court or undergoing resolution, and the Bank will continue to act in accordance with proper procedures.
“With the issue of what to do, it depends. For example, if a court reaches a decision and instructs us to go in a particular way, the board of the Bank of Ghana will look at that. But from where I sit, there is no pressure on me to restore any such unilaterally,” he said.
The banking sector reforms began in 2017, when the Bank of Ghana raised the minimum capital requirement for banks from GH¢120 million to GH¢400 million.
This policy change led to the closure or merger of several banks that failed to meet the new capital threshold.
DR/SA
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