The Bank of Ghana has justified its decision not to confirm the appointments of a fraction of personnel recruited in December 2024.

Sources close to the Bank told Joy Business that the action was based on a rigorous evaluation process undertaken by the Human Resource and Capacity Development Department.

This assessment, Joy Business understands, was based on what the Central Bank describes as  “considered performance outcomes, alignment with the Bank’s values, and the potential to contribute meaningfully to its strategic objectives.”

 The Bank of Ghana, we also understand, argued that the exercise reflects ongoing initiatives and programmes aimed at promoting strong institutional standards and what the Central Bank describes as a human capital strategy, which is in line with its mandate of enhancing financial and operational stability.  

Details of Exercise

Joy Business is learning that about 97 did not have their appointment confirmed after probation.

However, the Bank of Ghana is insisting that more than half of the persons who were recruited had their appointment confirmed since they successfully passed the assessment by the Human Resource Department.

Sources say the decision was indeed in line with the terms of recruitment, which was captured in everyone’s employment contract, which indicated that “they are on a six-month probation period, subject to satisfactory performance.”

Background

The Bank of Ghana, in a letter dated 19 June 2025, communicated the decision to the affected persons that their appointment would not be confirmed because they were not successful during the assessment.

According to the Bank of Ghana, it took the decision after it finalised its staff probation review and exercise, resulting in the majority of these personnel engaged after December 7, 2024.

It, however, insisted that only a few had their appointments not confirmed by the Bank of Ghana

The Central Bank is insisting that this should be seen as a routine exercise, which is not targeted against any individual at the Bank of Ghana.

One senior official with the Bank told Joy Business that “Such exercises are routine and form part of the institution’s commitment to maintaining a high-performance work environment.”

The Bank of Ghana, in a separate discussion with Joy Business has also maintained that it takes employment issues very seriously and will apply the “principles of fairness, transparency, and due process throughout in everything it does.”

 Support for the Affected Persons  

Based on the letter to one of the affected persons seen by Joy Business and other persons whose contracts were not confirmed, they are taking home one month’s salary in lieu of notice.

According to the letter signed by the Head of Human Resource and Capacity Development Department, the affected persons have also been advised to return all institutional property by the effective termination date of Monday, June 23, 2025.

Spending on Staff at Bank of Ghana

The 2024 account of the Central Bank showed that  Group Personnel Cost increased from GH¢2.3 billion in 2023 to GH¢2.9 billion in 2024.