Paul Acquah proceeds on leave

The Governor of the Bank of Ghana, Dr Paul Acquah has decided to go on his leave accumulated over almost nine years.

Dr Acquah was born in Juabo in the Western Region of Ghana. He is a graduate of the University of Ghana and Yale University in Economics.

Governor Acquah obtained a Ph. D at the University of Pennsylvania, USA, and joined the IMF as a young economist.

During his tenure, Dr Paul A. Acquah, was awarded Central Bank Governor of the Year at the prestigious African Banker Awards 2008.

His decision to take leave comes hours after his deputy, Dr Mahamudu Bawumia also agreed to disengage from his remaining 18-month contract with the bank.

Joy News sources at the central bank said Dr Bawumia also applied earlier for his accumulated leave for nine years during which time he campaigned for vice president having been nominated running mate of the NPPP flag-bearer, Nana Akufo-Addo.

Dr Bawumia was due to go to the negotiation table with the state in June 2010, either for a continuation or an abrogation of his contract.

But government transition team issued a directive to the young politician to either resign or be forced out.

Although Dr Paul Acquah's leave is provided for by the country's labour laws, many have opined it is politically motivated.

With a new government assuming office, there may be the need to fill such a sensitive position with an individual the President can trust, a governance expert indicated.

The Governor met with the President Prof John Mills, a few days after the President assumed office.

Presidential spokesperson Mahama Ayariga told the media at the Castle that the discussions had been on the state of the economy.

Story by Fiifi Koomson