Would Millison Narh become Bank of Ghana Governor?

Even though Dr. Kofi Wampah hinted that he would be departing earlier than his scheduled end of duty date on August 5, 2016, no one took notice. At the last Monetary Committee Meeting of the central bank which the governor chairs, he hinted during question time with journalists that he would retire soon.

Wampah was First Deputy Governor, before he was elevated into position of Acting Governor on April 13, 2013, when then Governor Kwesi Amissah-Arthur became running mate to the ruling party’s presidential candidate.

The Second Deputy Governor then was, Mr. Millison Narh who had been in that position since 2009. He was subsequently elevated to the position of First Deputy Governor.

“Mr Millison Narh has been elevated to be the First Deputy Governor,” Dr. Wampah announced at a press event in Accra July 31, 2013.

Even though, Mr. Narh was elevated, his portfolio remained the same. He remained in-charge of the central bank’s operations.

Dr Abdul-Nashiru became the Second Deputy, responsible for banking supervision, research and financial stability, a portfolio previously held by Dr Wampah.

Media shy Mr. Narh, who is a Chartered Accountant, has worked with the central bank for about 38 years in various capacities.

During a meeting of African finance ministers in Addis Ababa, Ethiopia, in 2013, Mr. Narh did everything he could to avoid any one-on-one media interview. He later explained and expressed his distrust for the media.

“You have to be careful when you speak to the media, they would twist what you say and get you into trouble,” he said, when pressed for explanation.

Mr. Narh is one of the very experienced bankers in the country and with his long service at the central bank, he comes forth as a possible good replacement, but his political affiliation is unknown. Taking into account what political affiliation plays in such appointments, if he is not connected to the ruling party, he is not likely to be appointed Governor, no matter how fit he might be for the job.

Over the years, his extensive experience include but not limited to the following:

He was Director and Head of the Banking Department from July 2002 to May 2008 and was responsible for all banking matters, both domestic and international. He supervised the operations of the Head Office and five regional offices involving a staff strength of 500, in the areas of deposit and currency management, trade finance (import and export document handling), global transfers (inward and outward remittances) and development and management of payment systems.

He also handled government accounts which involved the receipt of funds into the Consolidated Fund and making domestic and foreign payments on behalf of government. He played an active role in the re-denomination exercise by designing an accounting system to convert and record dealings in the new currency and the simultaneous withdrawal of the old.

He directed and coordinated the operational plans by the banks for the re-denomination exercise, planned and executed the issuance of new cheque books to customers of all the banks in the country and designed a system for the dual clearance of cheques (old and new) with resounding success. He was the SWIFT USER group chairperson for Ghana and coordinated the implementation of a number of payment system development projects initiated by SWIFT International.

As an Assistant Director and Chief Internal Auditor of the Internal Audit Department of the Bank from 2000 to 2002, Mr. Narh planned and executed audit assignments in the Bank based on the risk assessment of the auditable function. His responsibilities included liaising with external auditors of the Bank to ensure complimentarity of audit assignments. He also supervised the examination of mutilated currency for incineration and evaluation of currency tenders.

From June to October 2001, he was the Acting Principal of the National Banking College, a position which involved the overall administration of the college to achieve its set objectives but which saw him delivering lectures in several disciplines including accounting, credit management, human resources and marketing, among others. He developed a strategic plan for the College which is being implemented to date with satisfactory outcomes. From 1995 to 1997, he served as the Principal Consultant for the National Banking College on secondment from the Bank, being a member of the team that set up the College and was also a facilitator.

He was the Head of Branch Banking Department from 1996 to 1999 during which he was tasked by Management of the Bank to set up five regional branch offices for the Bank.

From 1993 to 1995, he was a Chief Manager and Head of the Domestic Banking Division with the responsibility for planning and organizing deposit management functions to achieve the objectives of the Division.

Mr. Narh started his career with the Bank soon after completing Ghanata Secondary School and holds a number of qualifications including:

• Masters degree in Banking and Finance, Finafrica Foundation (1986-1987, Milan, Italy)
  ·    Bachelor of Commerce (Hons), Second Class Upper, University of Cape Coast (1979-1983)
  ·    Diploma in Education, University of Cape Coast (1979-1983)
  ·    CA Intermediate/LCC Advanced (1976-1979), Accra Polytechnic
  ·    Certificate in Bankmaster Software Package, Dublin, Ireland (1995)
  ·    Certificate in Central Banking, Bank Negara, Malaysia (1991)
  ·    Certificate in Foreign Exchange Management, Euromoney (1996)
  ·    Certificate in Management of Training and Training Delivery Skills, RIPA International, UK (1996)

He is a member of a number of Professional Institutions including:
·    The Chartered Institute of Administrators,
·    The Monetary Policy Committee of Bank of Ghana
·    Board Member of the Ghana Trade Centre
·    Board Chairman of Eximguaranty Ltd. from 2000 to 2004

His track record includes:

·    Facilitator at the Bank of Ghana Training School who has trained staff from Clerk grade to Directors in various disciplines from 1984 to date
·    Facilitator for the Bank for Housing and Construction, National Investment Bank, Agricultural Development Bank and Chartered Institute of Bankers in banking courses
·    Consultant for the Programme for Effective Management (PEM) and Vita Consultancy Services (1991)
·    Lecturer in Financial Management at the Institute of Chartered Accountants (1990-1997)
·    Played a key role in major computerization programmes in the Bank.

By Emmanuel K. Dogbevi