Sierra Leone Bank Governor Sacked!

Sacked Governor of Bank of Sierra Leone, Dr. Patrick Conteh Sacked Governor of Bank of Sierra Leone, Dr. Patrick Conteh

 Dr Patrick Saidu Conteh, who in 2017 becomes the 5th Central Bank Governor to be appointed under the previous two presidential terms led government of President Ernest Bai Koroma, has been replaced by the current President Julius Maada Bio.  

A letter of appointment from the Office of the President names Dr. Kelfala Morana Kallon as new Governor of the Bank of Sierra Leone (subject to parliamentary approval), who replaces Dr. Patrick Conteh.

The Appointment Letter of the new Bank of Sierra Leone Governor is said to be in line with Section 15(1) and 15(2) of the Bank of Sierra Leone Act of 2011.  Section 15(1) of the Bank of Sierra Leone Act of 2011 says: “(1) There is hereby established a Board of Directors of the Bank which shall consist of- (a) the Governor who shall be Chairman; (b) the Deputy Governor; and (c) five non-executive Directors, all of whom shall be appointed by the President subject to approval by Parliament.”

Furthermore, Section 15(2) of the Bank of Sierra Leone Act 2011 say: “(2) The Governor and Deputy Governor shall each be appointed under the public seal for a term of five years and shall be eligible for reappointment for another term only.”

However, reactions on social media from many Sierra Leoneans including opposition supporters on the decision of President Maada Bio to replace the Dr Patrick Conteh as Governor of the Bank of Sierra Leone, when infact the latter has only served a year of his five year secured tenure, has been very negative. Many cite Section 16(3) of the same Bank of Sierra Leone Act of 2011, which says: “(3) Subject to this Act, the Governor shall not be removed from office by the President before the expiration of his term of office unless a resolution is passed by Parliament supported by two thirds of all its members recommending his removal.”

Opposition supporters say the decision of the President to replace the Governor of the Bank of Sierra Leone when infact as per the laws of Sierra Leone, a resolution is not passed by Parliament and it is not supported by two thirds of all its members recommending the removal of the Governor, is “illegal, dictatorial and undemocratic.”

This decision of the president to replace the Governor of the Bank of Sierra Leone, has somehow been backed by the supporters of the president, who believes that the decision of President Bio to replace Dr. Patrick Conteh, is similar to the decision of former President Koroma, who in 2007 replaced Dr. J.D. Rogers, despite the latter also having few months remaining on his tenure of office as Governor of the bank of Sierra Leone. They said, it is a precedent set by the previous regime and that is what the current president is following.

Meanwhile, it could be recalled that in 2007 after the election of Ernest Bai Koroma as President of Sierra Leone, the then Bank Governor Dr J.D. Rogers (appointed by former President Ahmed Tejan Kabba)  was removed  by then President Ernest Bai Koroma  to make way for Dr. Samura Kamara. Dr. Samura Kamara was also subsequently replaced by Mr. Sambadeen Sesay. Sambadeen Sesay also was replaced by Mr. Momodu Kargbo, who was also replaced by Dr. Kaifala Marah who resigned then to further his political ambitions. Patrick Conteh also follows the trend of all appointees coming in from the Finance Ministry.

Notwithstanding, however, a senior party official of the ruling Sierra Leone Peoples Party (the party of President Bio), who spoke to DE MIRROR NEWSPAPER has however said that the manifesto of President Bio is titled “THE NEW DIRECTION”, and that he firmly believes that if President Bio wants to achieve his agenda, he should focus on a new direction and not to follow precedents that are illegal.

The debate continues.

Meanwhile,  below  is the  CV of the new designated Governor of the Bank of Sierra Leone, Kelfala Kallon

 

Kelfala Kallon

University of Northern Colorado

College of Humanities and Social Sciences

(970) 351-2134

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Education

PhD, University of Virginia, 1983.

Area of Study: Economics

BA, Methodist College, 1976.

Area of Study: Economics

 

Professional Academic Experience

 Associate Professor, University of Northern Colorado. (1993 - Present).

Assistant Professor, Gettysburg College. (1987 - 1993).

Assistant Professor, University of West Florida. (1983 - 1987).

 

RESEARCH, SCHOLARSHIP, AND CREATIVE WORKS

 

Publications

 

Juried

Journal Articles

Kallon, K. (2018). The long-run Relationship Between Foreign Aid and Labor productivity in Sierra Leone. The Journal of Developing Areas, 52(2), 95-107.

Kallon, K. (2013). Growth Empirics: Evidence from Sierra Leone. African Development Review, 25(2), 215-230.

Kallon, K. (2009). The Demand for Money in Sierra Leone Revisited. Journal of African Development, 11(1), 41–59.

Kallon, K. (2008). Testing the Mundell-Fleming and Monetary Approaches to Exchange Rate Determination: Evidence from Sierra Leone. International Economics and Finance Journal, 3(2), 141-159.

Kallon, K. (1994). An econometric analysis of inflation in Sierra Leone. Journal of African Economies, 3(2), 199–230.

Kallon, K. (1992). An econometric analysis of money demand in Ghana. The Journal of Developing Areas, 475–488.

Kallon, K. (1992). The Demand for Money in Sub-Saharan Africa: Evidence from Sierra Leone. Journal of African Development, 1(2), 59–76.

 

Books

Kallon, K. (2004). The political economy of corruption in Sierra Leone (vol. 22). Lewiston, N.Y: E. Mellen Press.

Kallon, K. (1990). The Economics of Sierra Leonean Entrepreneurship. Lanham, Md:

University Press of America.

Conference (Full Paper) Proceeding

Kallon, K. (1988). The Demand for Money in Five Sub-Saharan African Countries. Proceedings of the Third Annual Meeting of the Pennsylvania Economics Association (pp. 46-57).

 

Non-juried

Working Paper

Kallon, K. (2006). The Export-Led Growth Hypothesis: Evidence from Sierra Leone.

University of Northern Colorado.

Kallon, K. (2004). Unit Root Tests of PPP Under Fixed and Flexible Exchange Rate Regimes: Evidence from Sierra Leone. University of Northern Colorado.

Kallon, K. (2004). A Cointegration Analysis of the Long-Run Relationship between Real Money, Real Exports, and Real GNP in Sierra Leone. University of Northern Colorado.

 

Other Publications

Kallon, K., Leland B. Yeager and Associates (1981). Experiences with Stopping Inflation.

American Enterprise Institute studies in Economic Policy.

 

Professional Presentations

Not Invited

Juried

Kallon, K., 2014 Conference on African Development at the Center for the Study of African Economies, "Foreign Aid and the Dutch Disease: Evidence from Sierra Leone," Oxford University, Oxford, UK. (March 23, 2014).

Kallon, K., 2014 Meetings of the Eastern Economic Association, "'The Long-Run Equilibrium Relationship between Foreign Aid and the Trade Balance' Evidence from Sierra Leone.," Boston, Massachusetts. (March 6, 2014).

Kallon, K., 2013 Meetings of the Eastern Economic Association, "The Impact of Foreign Aid Flows on the Real Exchange Rate in Sierra Leone," New York, New York. (May 9, 2013).

Kallon, K., 2012 Meetings of the Eastern Economic Association, "Raw Material Endowments, Labor-Force Quality and FDI Flows in Sub-Saharan Africa," Boston, Massachusetts. (March 9, 2012).

Kallon, K., 2011 Meetings of the Eastern Economic Association, "The Impact of IMF Structural Adjustment Lending on Economic Growth in Sub-Saharan Africa," New York, New York. (February 26, 2011).

 

Kallon, K., 2010 Oxford Roundtable, "Why is What is Good for the Ganders not Good for the Geese? A Critique of IMF Structural Adjustment Policies in Sub-Saharan Africa," Oxford University, Oxford, United Kingdom. (July 2010).

Kallon, K., 2010 Meetings of the Eastern Economic Association, "A Novel Procedure for

Estimating Capital Stock from Gross Domestic Investment: Application to Sierra Leone Data," Philadelphia, Pennsylvania. (February 26, 2010).

Kallon, K., 2009 Meetings of the Eastern Economic Association, "The Impact of Exchange Rate Changes on Real Income in Sierra Leone," New York, New York. (February 27, 2009).

Kallon, K., 2008 Annual Meetings of the Eastern Economic Association, "The Casual Relationship between Money, Output, Prices and Interest Rates in Sierra Leone," Boston, Massachusetts. (February 28, 2008).

Kallon, K., 2006 Meetings of the Eastern Economic Association, "Empirical Models of Exchange Rate Determination: Evidence from Sierra Leone," Philadelphia, Pennsylvania. (February 23, 2006).

Kallon, K., 2002 meetings of the Eastern Economic Association, "A Cointegration Analysis of the Long-Run Relationship between Money, Prices and GDP in Sierra Leone," Boston, Massachusetts. (March 15, 2002).

Kallon, K., 2001 meetings of the Eastern Economic Association, "The Impact of Corruption on the Post-Independence Sierra Leonean Economy," Washington, D.C. (March 2001).

Kallon, K., 2000 meetings of the Eastern Economic Association, "The Political Economy of Corruption with Special Application to Sierra Leone: Some Theoretical Insights," Washington, D.C. (March 2000).

Kallon, K., 1999 Meetings of the Eastern Economic Association, "Money, Inflation, and Budget Deficits in Sierra Leone: Tests of Granger Causality," Boston, Massachusetts. (March 1999).

Kallon, K., 1998 meetings of the African Studies Association, "How Did We Get Here? An Economist’s View of the Sierra Leone Crisis," Chicago, Illinois. (October 1998).

Kallon, K., 1998 meetings of the Eastern Economic Association, "Africa’s Case for Reparation for the Slave Trade," New York, New York. (February 27, 1998).

Kallon, K., 1995 Gwendollyn Carter Lecture Symposium, "Land Tenure, Entrepreneurship, and Agricultural Development: A Study of the Mende Land Tenure System in Sierra Leone," Center for African Studies, University of Florida, Gainesville, Florida. (November 1, 1995).

Kallon, K., 1994 Annual Meetings of the Eastern Economic Association, "An Economic Model of HIV-Prone Behavior with Implications for African Americans," Boston, Massachusetts. (1994).

Kallon, K., Luckey, I., 1993 Annual Meetings of the Eastern Economic Association, "A Probit Analysis of Health-Care Utilization by African Americans," Washington, D.C. (March 1993).

Kallon, K., 1993 Allied Social Sciences Association Annual Meetings, "Does Africa Have Case for Restitution from the West for the Atlantic Slave Trade?," Anaheim, California. (January 1993).

Kallon, K., 1992 Annual Meetings of the Allied Social Sciences Association, "The Inflationary Process in Sierra Leone," New Orleans, Louisiana. (January 1992).

Kallon, K., 1991 Annual Meetings of the Southern Economic Association, "An Econometric Analysis of the Inflationary Process in Sierra Leone," Nashville, Tennessee. (November 1991).

Kallon, K., Third Annual Meeting of the Pennsylvania Economics Association, "The Demand for Money in Five Sub-Saharan African Countries," University Park, Pennsylvania. (1990).

Kallon, K., 1990 annual meetings of the Southern Economic Association, "The Macroeconomic Effects of IMF-Supported Adjustment Programs in an African Economy: The Case of Sierra Leone," New Orleans, Louisiana. (November 1990).

Kallon, K., 1990 annual meetings of the African Studies Association, "Sierra Leone's Economic Decline: A Public-Choice View," Baltimore, Maryland. (October 1990).

Kallon, K., 13th Annual Meetings of the Eastern Economic Association, "An Econometric Analysis of the Inflationary Process in Sub-Saharan Africa," Philadelphia, Pennsylvania. (April 1986).

Kallon, K., 1985 Annual Meetings of the African Studies Association, "The Effects of the African Extended-Family System on Entrepreneurial Activity: Some Evidence from Sierra Leone," New Orleans, Louisiana. (November 1985).

Kallon, K., 1984 Annual Meetings of the Southern Economic Association, "Some Socioeconomic Characteristics of Indigenous Entrepreneurs in Sierra Leone," Atlanta, Georgia. (November 1984).

 Non-juried

Kallon, K., Commemoration of Sierra Leone's 40th Independence Anniversary, "Political Corruption and the Culture of 'Blood Diamonds' in the Sierra Leone Civil War," Long Island University. (April 27, 2001).

Kallon, K., 1997 Annual Conference on Peace and Economic Stability in Sierra Leone, "How Did We Get Here? An Economist’s View of the Sierra Leone Crisis," Bowie State University, Bowie, Maryland. (December 12, 1997).

Kallon, K., Second Annual Conference of Africans in America, "The Ineffectiveness of Standard Monetary-Policy Instruments in Sub-Saharan African Countries," Massachusetts Institute of Technology, Cambridge, Massachusetts. (September 1991).

 

GRANTS

Funded

Kallon, K., "Provost’s Travel Award to present a paper at the Oxford Roundtable, Oxford University, United Kingdom." (July 2010).

Kallon, K., "Funding for Research Trip to Sierra Leone to conduct archival research on Sierra Leone’s dual land-tenure system," Sponsored by Faculty Research and Publications Board, $2,500.00. (September 2002 - December 2002).

Kallon, K., "Funding for Research Trip to Sierra Leone to gather Macroeconomic Data," Sponsored by Faculty Publications and Research Board, $2,500.00. (July 1996 - August 1996).

Kallon, K., "Summer Postdoctoral HIV/AIDS Training Fellowship Program for Research on Black Americans," Sponsored by Institute for Social Social Research, University of Michigan, $8,075.00. (July 1993 - August 1993).

Kallon, K., "Grant to take ICPSR Summer Course on Vector Autoregression," Sponsored by Gettysburg College Professional Development, $500.00. (July 1991 - August 1991).

Kallon, K., "Summer Grant to Study the Macroeconomic Effects of IMF-Supported Structural Adjustment Programs on Sierra Leone," Sponsored by Gettysburg College Professional Development, $2,500.00. (July 1990 - August 1990).

Kallon, K., "Grant to take ICPSR Summer Course on Time Series Analysis and Forecasting," Sponsored by Gettysburg College Professional Development, $1,100.00. (July 1988 - August 1988).

 

TEACHING

 Teaching Experience

University of Northern Colorado

Courses Taught:

ECON 203, Principles of Macroeconomics, 29 courses. 3.00 credit hours.

ECON 205, Principles of Microeconomics, 1 course. 3.00 credit hours.

ECON 301, Money and Banking, 3 courses. 3.00 credit hours.

ECON 303, Intermediate Macroeconomics, 14 courses. 3.00 credit hours.

ECON 320, Comparative Economic Systems, 8 courses. 3.00 credit hours.

ECON 344, International Economics, 8 courses. 3.00 credit hours.

ECON 360, Economics of Growth and Development, 8 courses. 3.00 credit hours.

ECON 395, Special Topics in Economics, 1 course. 3.00 credit hours.

ECON 452, Econometrics, 2 courses. 3.00 credit hours.

HON 451, Senior Honors Research Thesis, 1 course. 3.00 credit hours.

 

SERVICE

University Service

Committee Member, Graduate Council. (2005 - 2007).

Committee Member, International Studies Board of Directors. (1995 - 2006).

Director, International Studies Program. (1995 - 2006).

Committee Member, Undergraduate Council. (2004 - 2005).

 

College Service

Committee Member, College Leadership Council. (2011 - Present).

Committee Member, Policies and Procedures Committee. (2008 - Present).

Committee Member, Less Commonly Taught Taskforce. (2004).

Committee Chair, Schultz Search Committee. (2000).

 

Department Service

Committee Chair, Economic Department. (September 2011 - Present).

Committee Chair, Economics Faculty Evaluation Committee. (2000 - 2011).

 

Professional Service

Chaired a session and discussed two papers, Eastern Economic Association. (2009).

 

Public/Community Service

Coach, Girls Soccer teams. (2000 - 2006).

Panelist, World Religions, Political Science Association. (2004).

Panelist, Impact of Iraq War on the U.S., UNC Political Science Association. (2003).

Parent Volunteer, Meeker Elementary School. (1997 - 2002).

Panelist, Globalization. (May 2002).

Worked with Choir Director to translate a Krio Christmas Carol for their Christmas Around the World Choir Program, Greeley’s Unitarian Church. (December 2001).

Presented "Sierra Leone and Other African Issues", African Studies Class of the First United Methodist Church, Greeley, Colorado. (March 1995).

Guest Speaker, Symposium on South Africa at the International Students Center, International Week. (1994).

 

DEVELOPMENT ACTIVITIES ATTENDED

Tutorial, "UNC Online Academy to learn how to set up an online course." (July 2012).

Continuing Education Program, "Sabbatic Leave to complete my book, The Political Economy of Corruption in Sierra Leone." (September 2002 - December 2002).

Workshop, "NSF Workshop for Integrating Race and Gender Issues in the Principles of Economics Courses," Dennison University, Granville, Ohio. (June 1994).

Continuing Education Program, "Course on Maximum Likelihood Estimation," Inter-University Consortium for Social and Political Research Summer Program, University of Michigan. (July 1993 - August 1993).

Continuing Education Program, "Post-Doctoral Work on HIV/AIDS," Program for Research on Black Americans, University of Michigan. (July 1993 - August 1993).

Continuing Education Program, "Course on Logit and Log-Linear Models," Inter-University Consortium for Social and Political Research Summer Program, University of Michigan. (June 1993).

Continuing Education Program, "Course on Vector Autoregression," Inter-University Consortium

for Social and Political Research Summer Program, University of Michigan. (July 1991 - August 1991).

Continuing Education Program, "Course on Time Series Analysis and Forecasting," Inter-University Consortium for Social and Political Research Summer Program, University of Michigan. (July 1988 - August 1988).

 

AWARDS AND HONORS

Other

HIV/AIDS Summer Postdoctoral Training Fellowship, Institute for Social Research -- Program for Research on Black Americans, University of Michigan. (June 1993).

Dupont Fellow, University of Virginia. (1980).

Dupont Fellow, University of Virginia. (1979).

Methodist College Scholars. (1976).

Pi Gamma Nu, National Social Science Honorary Society. (1976).

 

PROFESSIONAL MEMBERSHIPS

Western Economic Association International. (2014 - Present).

Eastern Economic Association. (1987 - Present).

African Finance and Economic Association. (1987 - 2001).

American Economic Association. (1987 - 2000).

Pennsylvania Economic Association (Served on Board of Directors, 1990-1993). (1987 - 1993).

Southern Economic Association. (1983 - 1987).

 

 

 

 

Obituaries

...

With gratitude to God for a life well lived

Obituary for the late Evelyn Lauretta Idowu-Davies
Sunrise:11 February 1925
Sunset : 10 March 2019
Aged 94
Funeral & Communion service : Friday 22 March at the Ebenezer Methodist Church Murray Town at 2:30
From the Children and grandchildren at home and abroad.

17th March 2019, marks the 20th Anniversary of the passing away of HONORABLE, DR. SHEIKH BATU DARAMY SR, aka, SB Daramy.  Dr. Sheikh Batu Daramy, Sr. B.Sc (Economics from London School of Economics, UK), M.A., Ph.D from Howard University, was born on 20th September, 1920 in Makeni.  Today we remember one of the Sierra Leone Peoples Party (SLPP) oldest members.  In 1948, Hon. Dr. Sheikh Batu Daramy was awarded a Sierra Leone Government scholarship to attend the London School of Economics from where he graduated in 1952 with a B.Sc in Economics. ...

The death is announced of Mr. Fuad Din Gabisi age 84 years whose sad event took place today Monday 12th November, 2018. He is survived by his wife Balkisu Din Gabisi of 3 Ingham Street Fourah Bay Community, Freetown. Sisters: Haja Bola Deen (Late) and Ola Din-Gabisi (UK)
Children: Mrs. Christiana Bultman-Sulaiman of the USA
Mr. Sulay Din Gabisi of USA
Miss Zainab Din Gabisi of Freetown
Mr. Aziz Din Gabisi of Freetown
Mr. Dyfu Din Gabisi of USA
Grandchildren
Miss Blanche Bultman of USA
Mr. Fuad Din Gabisi ...

The death is reported of Police Constable Santigie Ado Kamara formerly of the Operational Support Division (OSD), Panlap Division, Makeni and of Binkolo, Safroko Chiefdom. He died by road accident on Saturday 4th August 2018. Aged 39. He is survived by his wife Isatu Kamara, children Teresa, Samuel, Kenneth, Augustine, Emmanuel and Marie. Brothers: Abu, Kelfa, Karim, Gbessay, Sampha and Dura. Sisters: Jane D.M Sesay, Amie, Isatu, Sinnah, Sentho, Sarah, Helen, Fatu and Kadiatu. He will be buried on Sunday 19th August, 2018 at Binkolo. May his gentle soul Rest In Peace!

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