A section of Members of Parliament (MPs) from Kumasi are calling for the immediate revocation of Dr. Johnson Asiama‘s appointment, citing his alleged involvement in the banking sector crisis that led to the collapse of several financial institutions in Ghana.
Speaking on behalf of the Kumasi block of MPs in Parliament, the MP for Manhyia South, Nana Agyei Baffour Awuah, insisted that Dr. Asiama’s past actions make him unfit for his current role and called on the government to act swiftly.
“We are saying that the appointment of Dr. Johnson Asiama should be revoked, and this I am saying on behalf of the Kumasi block of MPs in Parliament. The appointment of Dr. Asiama should be revoked,” he stated.
He further alleged that Dr. Asiama played a supervisory role in the banking sector before the industry’s major collapse, which led to several banks losing their licenses. According to the MP, investigations linked him to two high-profile financial trials—UT Bank and Unibank—where he was accused of complicity in the mismanagement that led to their downfall.
“We all know when the banking sector collapsed, he was involved to the extent that following investigations, he was accused in two different cases. One was the trial in the UT Bank case, where he was an accused person, and the other was the trial of the Unibank case, where he was also an accused person,” the MP added.
Dr. Asiama’s name first came to public attention during a turbulent period in Ghana’s banking history. As the former Second Deputy Governor of the Bank of Ghana, he was implicated in the approval of significant liquidity support packages during a time when the nation’s financial system was under severe stress.
In the case of UT Bank, Dr. Asiama was charged alongside others—including the bank’s founder for allegedly authorizing a GH¢413 million facility without adhering to proper procedures. Similarly, his role in the collapse of Unibank was scrutinized when he was accused of approving a GH¢300 million unsecured facility, a move later said to have contributed to the bank’s downfall. Critics argued that these decisions led to a loss of public confidence and, ultimately, to the banks’ failures.
Legal Battles and a Tumultuous Verdict
Beginning in 2020, Dr. Asiama faced multiple charges, including fraudulent breach of trust, money laundering, and conspiracy to commit crime. Over the course of a lengthy legal battle, evidence and internal memos were scrutinized by the authorities. According to several reports, including one by ModernGhana, investigations conducted by the CID found no conclusive evidence that Dr. Asiama personally benefited from or intentionally caused financial loss through these transactions. An internal memo authored by the former Attorney General, Godfred Dame, recommended ceasing the prosecution because of the lack of cogent evidence.
In January 2025, the Attorney-General, Dominic Akurutinga Ayine, officially withdrew all charges against Dr. Asiama, effectively ending a seven-year legal saga that many critics have described as a politically motivated witch hunt.
Despite the legal vindication, opposition voices remain unconvinced. The Kumasi MPs argue that even with the charges dropped—the very fact that Dr. Asiama was embroiled in such high-profile cases raised serious concerns about his judgment and the robustness of the regulatory oversight under his watch.
Last Updated on March 20, 2025 by samboadu
