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The Bank of Ghana (BoG) has commended the Governor, Dr Ernest Addison, for his meritorious and dedicated service to the Bank and the country.
A statement issued by the BoG in Accra on Friday and copied to the media, said effective yesterday, Dr Addison started his terminal leave ahead of his retirement from the Bank.
“In line with the Bank of Ghana Act, Act 2002, (Act 612), as amended, his tenure as the Governor of the Bank of Ghana would end on March 28, 2025, after he successfully served two full terms,” the statement said.
Accordingly, the BoG said Dr Addison had decided to take his accumulated leave, effective February 3, 2025, ahead of his retirement from the Bank on March 28, 2025.
The statement said the decision of Dr Addison to take his accumulated leave ahead of his retirement had received approval by the President, John Dramani Mahama.
Dr Addison who served two successful terms was appointed as Governor on April 3, 2017, by former President Nana Addo Dankwa Akufo-Addo.
Dr Addison was appointed for a second term as Governor on March 29, 2021.
Dr Addison has worked at the BoG for more than three decades and rose through the ranks to become Director of Research after he was appointed as Governor of the BoG.
Under his leadership, the Bank won several awards both locally and internationally for the various innovations introduced by the Bank such as the eCedi, an electronic version of the local currency and the BoG’s Regulatory Sandbox for payers in the Fintech sector to test their innovations.
The eCedi is a digital version of the Ghanaian cedi, issued by the Bank of Ghana as legal tender.
It is a central bank digital currency (CBDC), which is a digital representation of a country’s currency.
Dr Addison on June 2021, announced the development of the E-Cedi.
The Bank of Ghana’s Regulatory Sandbox is a testing environment for financial technology (FinTech) innovations.
The sandbox allows innovators to test their products and services in a controlled environment, while ensuring consumer protection and regulatory compliance.
It aims at, among others, fostering a deeper understanding of innovative products, services and business models by the regulator, allowing for potential improvements to legal and regulatory requirements to encapsulate emerging technologies and ensuring careful monitoring and containment of any risks that may emerge.
Also, under the tenure of Dr Addison as Governor of the BoG, the Central Bank has constructed a modern head office which rivalled other central banks in the Western countries, estimated to cost $250 million
