The University of Mines and Technology (TEIN-UMaT) chapter of the Tertiary Education Institutions Network of the National Democratic Congress’s (NDC) has stated its support for the ‘Occupy BoG’ protest.

‘The unprecedented hardship in Ghana is largely attributable to the glaring financial malfeasance supervised by the Governor of the Bank of Ghana (BoG), ably supported by his two deputies…’

‘It is against this backdrop that TEIN-UMaT wishes to express its unabated and unwavering support for the ‘Occupy BoG’ Protest slated for October 3, 2023,’ the Network said in a press release copied to the Ghana News Agency signed by Shalom Kenedy-Zumedor, its President.

According to the statement, some activities of the BoG, including the ‘illegal’ printing of money in 2021 and 2022 and the writing off over S30billion of government debt without recourse to Parliament, constituted a fundamental breach of the Bank’s Act.

The statement said those activities by the BoG without regard to the law had allegedly sunk it into a loss of S60.8billion and a negative equity of S55.1billion as contained in the Auditor General’s report.

‘Amidst all these mismanagement, the Bank of Ghana under this government has resorted to the construction of a new headquarters for itself worth a staggering 250 million dollars.

‘This project is needless and turns a blind eye to the suffering the Ghanaian taxpayer has been subjected to by virtue of the government’s economic mismanagement,’ the statement read.

It called on citizens, especially students, to join the protest to demand the immediate resignation of the Bank’s Governor, his two deputies and board of directors for supervising and presiding over the alleged infractions.

‘Protesting is a right and we must exercise it to ensure that our voices are heard,’ the statement added.

Source: Ghana News Agency