In a recent episode of the "Ghana Tonight" show on TV3, Bawku Central lawmaker Mahama Ayariga expressed skepticism regarding the reasons provided by the Bank of Ghana (BoG) for its new headquarters building project.
Ayariga, who is also a private legal practitioner, stated that the explanations put forth by the central bank were untenable and prompted the Minority in Parliament to demand further clarification on the matter.
One of the key points of contention is the cost of the project, which has reportedly escalated from an initial estimate of $81 million to a staggering $250 million.
Ayariga emphasized the need for transparency and accurate information regarding the financial aspects of the project, especially given the conflicting reports surrounding its budget.
The Minority, led by Ayariga, is requesting comprehensive details about the procurement of the land for the construction of the new headquarters building.
They are also seeking information about the consultants and project managers involved in the undertaking.
The Bank of Ghana, in an official statement released on August 9, addressed the structural concerns with the current headquarters building.
The statement explained that a structural integrity assessment revealed the building's inability to withstand major earth tremors or significant earthquake loads.
Given Ghana's aspiration to become a financial hub in the sub-region and possibly host a regional Central Bank, the BoG deemed a new headquarters building crucial to support operational efficiency and fulfill strategic objectives.
The controversy deepened when Minority Leader Dr. Cassiel Ato Forson accused the Bank of Ghana of spending $250 million on the new headquarters project while grappling with financial difficulties.
Dr. Forson alleged that the Governor of the central bank was resorting to printing money to finance the project due to the reported financial constraints.
Dr. Forson further called for the resignation of the Governor and his deputies within 21 days, citing concerns over financial management and accountability.
He emphasized that the current situation could set a detrimental precedent for future central bank managers if not addressed promptly.
