Millison Narh elevated to First Deputy Governor of Bank of Ghana

The Bank of Ghana has confirmed Mr Millison Narh as the First Deputy Governor of the Bank.

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

Mr Narh, until his new position, has been the Second Deputy Governor since 2009 when now Vice President Kwesi Amissah-Arthur was the Governor.

Despite the elevation, Mr Narh’s portfolio remains the same. He will be in charge of the operations of the central bank.

Last week, President John Mahama appointed a former World Bank employee and former CEO of EDAIF, Dr Abdul-Nashiru Issahaku as a Deputy Governor of the BoG.

To clarify the position, Dr Kofi Wampah, the BoG Governor, stated that Dr Abdul-Nashiru is the Second Deputy.

According to Dr Wampah, Dr Issahaku will be responsible for banking supervision, research and financial stability, a portfolio previously held by Dr Wampah.

Mr. Narh, who is a Chartered Accountant, has worked with the central bank for 35 years in various capacities.

Mr. Narh 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. Mr. Narh 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, Mr. Millison Narh 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. Mr. Narh 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.

Mr. Narh 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, Mr. Narh 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)

Mr. Narh has authored a number of research papers and is a member of a number of Professional Institutions including:
·    Member of the Chartered Institute of Administrators,
·    Member of 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 Ekow Quandzie