I’ll appeal ruling upholding BoG’s revocation of my UMB Board Chair appointment – Smith-Graham

George Smith-Graham, former Director of UMB Bank, plans to appeal a High Court ruling that upheld the Bank of Ghana's (BoG) decision to revoke his appointment.

The BoG, under the Banks and Specialised Deposit-Taking Institutions Act and the Corporate Governance Directive 2018, requires prior approval for key appointments.

UMB appointed Smith-Graham as Board Chair without BoG's consent, leading to BoG's revocation of his directorship.

Smith-Graham's judicial review application was dismissed, with the court affirming BoG's broad powers to enforce compliance.

Smith-Graham claims BoG abused its authority and intends to challenge the ruling to ensure fair regulatory practices.