Some former customers of defunct microfinance company, DKM have welcomed the early exit of the Governor of the Bank of Ghana (BoG), Dr. Henry Kofi Wampah.<\/p>\n
Dr. Wampah\u2019s tenure at the central bank witnessed a debacle in the microfinance sector, resulting in many Ghanaians losing millions of cedis to some microfinance companies such as DKM and God is Love Fun Club.<\/p>\n
[contextly_sidebar id=”PZis4rLAxXdcHsT5sMuTvCxCIOTD07Ve”]A statement released by the Bank of Ghana which confirmed the Governor\u2019s exit stated that in view of Dr. Wampah\u2019s long outstanding leave days, he will be taking an early retirement from the central bank ahead of the end of his tenure which falls on August 5, 2016<\/p>\n
Even though most of the depositors could not retrieve their funds, some have expressed satisfaction over Dr. Wampah\u2019s exit, blaming him for poor supervision in the sector.<\/p>\n
\u201cFor us, if the information that we are hearing is that he is bowing out ahead of time, we will be happy about that but we will not be happy if such a person is allowed to end his tenure\u201d, \u00a0an aggrieved customer of DKM told Citi Business News.<\/p>\n
\u201cIf you are put in a public position or office and you are not acting well, you should honorably leave the office for somebody else to take over,\u201d the customer added.<\/p>\n
Another intimated \u201cMaybe he was not willing to help in the situation but I do not know whether the willingness is there it can be used to test the person who is coming to succeed him\u201d.<\/p>\n
Criticism of debacle in microfinance<\/strong><\/p>\n In the 2016 state of the nation\u2019s address, President John Mahama also lashed out at the central bank for the debacle, pointing out that government cannot remove the governor since the law forbids it.<\/p>\n Financial analyst, Sydney Casely Hayford has also chastised the governor for the poor handling of the debacle which resulted in confusion at the premises of some of the microfinanc companies in the Brong Ahafo region.<\/p>\n –<\/p>\n By: Lawrence Segbefia \/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" Some former customers of defunct microfinance company, DKM have welcomed the early exit of the Governor of the Bank of Ghana (BoG), Dr. Henry Kofi Wampah. Dr. Wampah\u2019s tenure at the central bank witnessed a debacle in the microfinance sector, resulting in many Ghanaians losing millions of cedis to some microfinance companies such as DKM […]<\/p>\n","protected":false},"author":14,"featured_media":198759,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[5],"tags":[],"class_list":["post-202781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/202781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=202781"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/202781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/198759"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=202781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=202781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=202781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}