Gen. Ankrah was toppled and executed

Acheampong's early economic success was due to external circumstances. The price of cocoa rose on the world market, from f275 a ton in 1972 to over f 600 a ton in 1973. Export prices for mineral and timber produce, i.e. for Ghana's gold, diamonds, manganese, bauxite, logs and plywood, also rose appreciably in 1972. By 1974, however, external circumstances had changed and were posing, the same problems for Ghana's economy under Acheampong that Nkrumah, the NLC and Busia had had to face.

This time, however, conditions were far worse than before. The quadrupling of the price of oil by OPEC countries had wiped out the earlier gains, and from 1976 there were acute shortages of imported goods and of locally produced foodstuffs, in spite of Operation Feed Yourself.

Galloping inflation meant that a tuber of yam came to cost the equivalent of the official minimum daily wage. Price controls were not enforced, because of strong opposition from traders, and by the middle of 1978 inflation had reached 200 per cent. There was starvation in some parts of the country. Most industries had stopped operating due to lack of raw materials. Smuggling and hoarding were taking place on a massive scale. Hospitals lacked drugs and other essential equipment.

There were severe shortages of essential commodities such as wheat, salt, sugar, soap and spare parts for vehicles. Military administrators and their civilian advisers were steadily more corrupt, and Acheampong had become increasingly dictatorial. Ghana was experiencing economic disaster, but it was Acheampong's proposals for political reform which led to a civilian revolt that encouraged his own army to overthrow him.

Acheampong announced a proposal for a 'Union Government', a half-way house in a return to civilian rule in which the government would be composed of the army. Police and civilians, while political parties would remain banned. Widespread but non-violent civilian opposition was spearheaded by university students and the associations of professional groups such as lawyers, university teachers, nurses and doctors. On 30 March 1978 a referendum was held on the Union Government proposals. The official voting figures claimed 1 103 423 in favour and 880 255 against. The opposition groups claimed there were 1 399 3 30 in favour and 1 600 294 against. The official figures were extremely suspect because the Electoral Commissioner, High Court Justice Abban, was forced to go into hiding after a night-time visit by soldiers. After the referendum the government detained 300 leading civilian opponents,

On 15 July 1978 a group of younger officers overthrew and arrested Acheampong in a palace coup, though the deputy Chief of Defence Staff, Lt-General Frederick Akuffo, assumed the position of Head of Stale. All political prisoners were released and Akuffo promised elections and a return to civilian rule in exactly a year's time. This third coup was, on the surface, a reform coup because it appeared to remove obstacles to a return to political democracy in Ghana.

Akuffo and Acheampong's other former colleagues accused the overthrown leader of running a 'one-man show' and of corruption. Akuffo's government initiated many probes and inquiries, but no prosecutions followed- Acheampong was allowed to live in comfortable 'village arrest' at home. Under the new constitution Supreme Military Council (SMC) members were granted indemnity, or immunity, from any legal proceedings connected with their financial dealings. This indemnity aroused general disgust and was the major cause of the SMC's overthrow.