Bank Governor Shown the Exit Door
By VOS Writer
Report indicates that President Bio has sent the Bank Governor, Professor Kallon, on indefinite leave based on what many could described as his display of incompetence to manage the country’s monetary policies. Dr. Ibrahim Stevens, the substantive Deputy Governor has been appointed to act as the Bank Governor tentatively.
Sources, however, intimated this press that the removal of the Bank Governor has been predicated on the grounds of his bad policies which has contributed to the country’s economic meltdown as inflation continues to rise astronomically, while the Leone keeps depreciating against the dollar.
It is also stated that the President has been disappointed with the Bank Governor for giving him the wrong advice to redenominate our currency which has created no impact to the economy.
Since his appointment as Bank Governor, Professor Kallon, has implemented several policies aimed at shaping the economy, but all of those are dead on arrival with no positive turnaround to the economy.
He has auctioned the dollars in our foreign reserve on several occasions to stabilize the rate and at any time he does so; the rate of the dollar keep soaring in the market.
He has admitted of even bribing hoarders to address the shortage of Leones in the Commercial Banks, but his decision has not produced any positive result.
Few month after the redenomination of the leones, the Bank Governor confessed that over 800 billion Leones were missing in the Banks and promised to investigate, but the outcome of hs investigation is yet to be made public.
Sadly, with all his failing policies, the Bank Governor at a particular point in time admitted that he has failed SierraLeoneans over the handling of the economy and that he has done everything humanely possible and cannot do more.
Meanwhile, when SierraLeoneans received the news that the Bank Governor had been relieved from duty by way of sending him on indefinite leave; they took to the social media with celebrations. Some are saying that his removal from office has been long overdue, whilst others are saying that it is better late than never.
