His tweet was in response to the BoG’s announcement of a loss of US$6 billion (approximately GH¢60 billion) for the year 2022, with the Domestic Debt Exchange Program (DDEP) being a significant contributor to these losses. Simons alleged that each independent director on the BoG’s board receives a monthly payment of US$8,000, which he deemed excessive compared to other African countries like Nigeria and Kenya.
The independent directors mentioned in the tweet and attached photo are as follows:
- Charles Adu Boahen, Non-Executive Director: Former Deputy Minister of Finance and former director and regional head of corporate & investment banking at Standard Bank in South Africa.
- Joseph Blignam Alhassan, Non-Executive Director: A business executive.
- Dr. Samuel Nii-Noi Ashong, Non-Executive Director: Finance expert with experience in public sector economic policy advisory, university teaching, and corporate business analysis.
- Dr. Kwame Nyantekyi-Owusu, Non-Executive Director: Founder and Executive Chairman of Inter-Afrique Group, with experience in leadership, strategic decisions, and innovative investment strategy.
- Comfort F. A. Ocran, Non-Executive Director: CEO of Legacy and Legacy, Administrative Director of Springboard Roadshow Foundation.
- Andrew A. Boye-Doe, Non-Executive Director: Legal practitioner with expertise in corporate, commercial law, banking and finance, and corporate restructuring.
- Jude Kofi Bucknor, Non-Executive Director: Investment banker with international banking, corporate finance, and emerging markets experience.
- Prof. Eric Osei-Assibey, Non-Executive Director: Associate Professor of Economics at the University of Ghana, with research interests in monetary policy, banking regulations, and development macroeconomic and fiscal policy issues.
- Angela Kyerematen-Jimoh, Non-Executive Director: Microsoft’s Strategic Partnership Lead for Africa, former Executive Director/Regional Head for IBM North, East and West Africa.
- Dr. Regina Ohene-Darko Adutwum, Non-Executive Director: Director at Bank of Ghana.
Bright Simons’ tweet highlighted the compensation of these independent directors and prompted a discussion about their roles and remuneration within the context of the Bank of Ghana’s financial performance and economic challenges.