The Member of Parliament for the New Juaben Constituency Dr. Mark Asibey-Yeboah has expressed joy over the early retirement of the Central Bank Governor Dr. Henry Kofi Wampah.

The secretary of the BoG announced:"It is announced for the information of the financial sector and the general public that in view of his long outstanding leave days, the Governor of the Bank of Ghana, Dr. H. A. K. Wampah, is taking an early retirement from the Bank with effect from April 1, 2016 ahead of the end of his tenure which falls on August 5, 2016."

Read more: BoG governor to retire end of March

Dr Wampah took over as governor in an acting capacity in April 2013 from Vice President Paa Kwesi Bekoe Amissah-Arthur who was then the Governor of the Central Bank.

Dr Asibey-Yeboah, who doubles as an Economist reacting to the announcement by Dr Wampah on Accra-based Joy FM described Dr. Wampah as the "most incompetent" governor.

"Is long overdue and I’m happy he has taken an early bow," he noted.

See also: Parliament to grill BoG over microfinance companies

Pressure has been mounting on Wampah to resign following the arrest of his son-in-law, David McDermott, over his alleged involvement in drug trade.

David McDermott has been married to Dr. Wampah's step-daughter, Ramona Wampah for three years, but was arrested in Ghana at his home in Burma Hills on March 11, 2016.

At a meeting to announce the new Monetary Policy Rate on March 21, Wampah refused to resign over his son-in-law.

"My son in-law is my son in law; it has nothing to do with me being Governor of the Central Bank. I have made a statement on that and that should be enough for you. My term will end this year and I will let you know when am going so thank you,"he told a news conference.

See more:BoG downplays cedi devaluation report

President Mahama in his State of the Nation address in February blamed the central bank for the microfinance crisis which monies of depositors were fraudulently used.He said one of his two deputies, either Millison Narh or Abdul Nashiru Issahaku, was expected to serve as interim central bank governor until Mahama chooses a permanent successor.