Workers of the Bank of Ghana are in a tense mood following the announcement of a redundancy programme to affect 1000 out of the 2600 strong workers of the Bank. The redundancy programme, which is expected to be effective August this year, is said to be in defiance of a demand from the Industrial and Commercial Workers Union (ICU) of the Trades Union Congress.

The ICU, had in a letter to the management of the Bank of Ghana requested it to hold onto the announcement of the redundancy till June 25, for negotiations on the matter to open.

Investigations conducted by the ''Independent'' revealed that Dr Paul Acquah, the Governor of the Central Bank summoned the workers to a meeting at the Bank’s auditorium last Wednesday to inform them about the development.

The workers who were not happy with the announcement drew the attention of Dr Paul Acquah to the demands of the ICU but the Governor is reported to have told them that he does not take instructions from the ICU. Dr Paul Acquah told the workers that the redundancy is being carried out in line with the bank’s new mission as envisaged under the new Bank of Ghana Act 2002 (Act 612).

As an indication of the seriousness of the management of the Bank about the redundancy, a notice has already been issued to heads of departments of the banks in the aftermath of the Governors announcement, to explain the rationale of the redundancy exercise to staff.

The notice requested interested staff to apply for voluntary separation from the bank between now and the end of August. Dr Acquah is reported to have told the workers at the meeting that any worker who fails to take advantage of the voluntary separation and rather ends up being pushed out by the bank will not get any severance pay.

However the workers are not interested in voluntary retirement because in their words, ''it is not attractive at all''.