There was a time when a single signal from Ghana’s Ministry of Finance could sway Parliament, rattle markets, and steady, or destabilise, the cedi.
At the centre of that era sat Ken Ofori-Atta, arguably the most powerful figure in Ghana’s economic architecture after the President.
As Finance Minister, Ofori-Atta oversaw the disbursement of billions of cedis for flagship government programmes, including the Free Senior High School policy, while openly opposing the funding models for initiatives such as One District, One Factory and One Village, One Dam.
Together with the Bank of Ghana and the Securities and Exchange Commission, he also led the financial sector clean-up, an exercise that shut down banks and firms, drained state resources, and wiped out businesses, savings, and jobs.
My own institution, Heritage Bank, despite being liquid and solvent by the Bank of Ghana’s own assessment, was among those closed, even after prior advice to pursue a merger, an option extended to other indigenous banks.
At his peak, Ofori-Atta survived protests, parliamentary censure motions, and internal party rebellion, retaining the President’s backing until the twilight of the administration.
Though he left office in January 2025, his troubles followed him abroad.
Declared a fugitive by the Office of the Special Prosecutor, he faced multiple corruption-related investigations and extradition efforts.
On January 6, 2026, U.S. Immigration and Customs Enforcement (ICE) detained Ofori-Atta in Virginia over immigration status issues, marking a dramatic fall for a man once considered untouchable.
This is not a morality tale about one man, but a lesson about power. Authority is temporary and borrowed, not owned. Ghana will move on; governments will change; headlines will fade. What endures is how power was used when it mattered.
As the Qur’an reminds us, all sovereignty belongs to Allah. Titles, wealth, and influence pass away, but deeds, humility, and accountability remain.
Source: myxyzonline.com
