Governor of the Bank of Ghana, Dr. Henry Wampah has disclosed he will be vacating his position by Friday, April 1 as against August 5 when he is due for retirement.

According to him, his decision was necessitated partly by the November general elections and not his recent family issue.

He has been publicly criticized by some people who suffered from the microfinance scam in the Brong Ahafo and Western regions. 

Some of the people accused him of failing to use his position to forestall what they have described as mass stealing of their money by DKM Diamond and God Is Love microfinance companies.

In President Mahama's State of the Nation Address, he said negligence on the part of the Central Bank has contributed to microfinance companies exploiting depositors adding that, he could not sack the Governor as some were calling on him to do.

On March 11, Wampah's son-in-law, Philip David McDermott, a British fugitive was arrested in Burma Hills in Accra in a joint operation between the Bureau of National Investigation (BNI) and National Crime Agency (NCA) of the United Kingdom.

However, the business community has received the news of the sudden exit of the Governor with mixed feelings.

While some business owners are excited about the news, others have expressed their misgivings alleging the Governor's exit is due to the recent bad press he has had.

According to an economist and Member of Parliament for New Juabeng South, Dr. Mark Assibey-Yeboah the Governor would be remembered for being weak and for failing to stick to decisions he takes.

He said the decision of the Governor to present all his fiscal policies aimed at stabilizing the cedi from depreciation is one of the greatest mistakes he has ever made.

There are lingering questions on his early retirement, however, JOYNEWS sources at the Central Bank have pointed to issues such as the recent arrest of his step daughter’s husband, as well as the microfinance crisis as some of the reasons behind the Governor’s early exit.

JOYNEWS Manasseh Azure looks back at some of the events preceding the Governor’s retirement.

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