The Ministry of Finance, under the leadership of Minister Dr. Cassiel Ato Forson, has announced the termination of Dr. Yaw Ansu's tenure as an independent director on the board of Development Bank Ghana (DBG). This significant decision, communicated in a statement issued on Thursday, June 19, 2025, comes in the wake of recent audit reports that brought to light serious concerns regarding governance and oversight practices within the institution.

According to Dr. Forson, the move was necessitated by audit findings that revealed critical governance lapses requiring immediate corrective action. Specifically, the audit reports identified weaknesses in the bank's internal controls and deficiencies in board oversight, prompting the Ministry to take swift measures aimed at rebuilding public trust in DBG's operations. The Ministry emphasized its commitment to rectifying these issues promptly.

The removal of the independent director is a precursor to a broader board restructuring effort. This restructuring is intended to enhance the bank's transparency and accountability mechanisms, ensuring robust governance frameworks are in place. Development Bank Ghana, which was established in 2021, plays a pivotal role in Ghana's economic development strategy by providing long-term financing to businesses and fostering private sector growth. The Ministry's actions underscore the importance of maintaining integrity and effective leadership within institutions critical to the nation's economic stability.