Parliament Recalled Over Urgent Financial Sector Bill – Speaker

Alban Bagbin

 

Parliament has been recalled from its adjournment to consider what the Speaker, Alban S. K. Bagbin, has described as urgent matters of state with implications for the stability of the nation’s financial sector.

The recall, which came barely a month after Parliament adjourned, followed a request from President John Dramani Mahama for the House to reconvene before its scheduled resumption in October 2026.

According to Speaker Bagbin, the President identified three matters requiring urgent parliamentary attention, namely the Banks and Specialised Deposit-Taking Institutions Amendment Bill, two nominations for appointment as Ministers of State, and three nominations for appointment as Justices of the Supreme Court.

Addressing the House at its emergency sitting yesterday evening, Mr. Bagbin said he was satisfied that the matters presented by the President were of sufficient urgency and importance to warrant the recall.

He said the brief submitted by the President on the proposed Banks and Specialised Deposit-Taking Institutions Amendment Bill raised issues with important implications for the “urgent regulation, stability, and functioning of the financial sector” and the wider economy.

He said the nature of the proposed legislation, together with its potential impact on the financial sector and the economy, meant that Parliament could not wait until its normal resumption in October before considering it.

The Speaker, however, cautioned that his decision to recall Parliament should not be interpreted as an endorsement of the proposed legislation or the other matters submitted by the President.

He explained that the recall merely gave Parliament the opportunity to consider the matters, adding that the ultimate decision on their merits remained with the House.

He explained that other parliamentary business would normally be dealt with during regular sittings and would not be admitted during the recall.

The Speaker further described Parliament as a continuing constitutional institution which must be ready to discharge its responsibilities whenever circumstances require it.

He said the adjournment of Parliament did not suspend the constitutional responsibilities entrusted to the House by the people of Ghana.

“When circumstances require Parliament to act, Parliament must so act,” he stated.

Mr. Bagbin also urged MPs to maintain high standards of conduct during the emergency sitting.

By Ernest Kofi Adu, Parliament House