Unionised staff of the ARB Apex Bank are warning of possible nationwide industrial action as frustration mounts over the Bank of Ghana’s continued silence on the renewal of Managing Director Alex Kwasi Awuah’s contract.
The workers say the central bank’s failure to issue a “No Objection” letter—required for the confirmation of the MD’s contract—is creating operational uncertainty that could destabilize the entire rural banking network.
In a strongly worded resolution addressed to the Governor of the Bank of Ghana, the workers, under the Union of Industry, Commerce and Finance Workers (UNICOF), described the delay as “undue and harmful,” arguing that it is already affecting staff morale and threatening the smooth functioning of Rural and Community Banks (RCBs) across the country.
According to the union, ARB Apex Bank’s leadership vacuum—caused by the BoG’s prolonged inaction—poses significant risks to critical operations such as liquidity support, clearing services, settlement systems, and shared IT infrastructure for all rural banks nationwide.
Threat of Strike Looms
The workers have given the Bank of Ghana a seven-day ultimatum to respond to their demands or face lawful industrial action.
“We will be compelled to consider lawful industrial action necessary to safeguard institutional stability if the governor fails to respond within seven days,” the resolution stated.
They noted that the MD’s contract renewal process has dragged on for months despite what they describe as his “satisfactory performance” and the strategic importance of his role during a period of tighter regulatory oversight of rural banks.
Concerns Over Sector Stability
The union warned that uncertainty at the top of ARB Apex Bank—an institution that anchors the entire rural banking sector—could trigger wider instability in the rural financial ecosystem, especially at a time when many RCBs are grappling with liquidity pressures.
Industry observers have long recognised ARB Apex Bank as the backbone of rural banking operations, providing technical support, supervision, and critical financial services across the country. Workers say leadership clarity is therefore essential.
Stakeholders Alerted
The resolution, signed by UNICOF General Secretary Euclid Kofi Ohemeng, has been copied to key stakeholders including:
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The Board of ARB Apex Bank
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CEOs of all Rural and Community Banks
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The Trades Union Congress (TUC)
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The National Labour Commission
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Other regulatory agencies
The union says it remains open to further engagement but insists the central bank must act without further delay to restore stability and confidence in rural banking operations.
