South Sudan President Salva Kiir has dismissed Central Bank Governor Yeni Samuel Costa after just over two months in office, reinstating former governor Johnny Ohisa Damian to the position in a surprise move announced via presidential decree on January 23, 2026.
Ohisa, who previously served two terms between 2022 and June 2025, returns to helm the bank as the world's youngest nation grapples with a depreciating currency and inflation exceeding 35%. His reappointment marks the third leadership change at the central bank in 15 months.
The abrupt dismissal of Costa – the shortest-serving governor since independence in 2011 – comes amid mounting pressure to stabilize the South Sudanese pound. Market analysts note the currency has lost 18% of its value against the US dollar since November 2025.
Ohisa brings extensive experience from his previous tenure and prior roles as Undersecretary at the Ministry of Finance, where he negotiated critical IMF support programs. His immediate challenges include managing foreign exchange reserves and implementing monetary reforms ahead of the 2026 fiscal year budget presentation.
While no official reason was given for Costa's removal, economic observers suggest the move reflects growing urgency to address systemic financial pressures exacerbated by fluctuating oil revenues and delayed debt restructuring agreements.
