Bank of Ghana has announced that its banking department will officially relocate its operations to The Bank Square, effective Monday, September 15, 2025.

In a statement shared on their Facebook page yesterday, September 11, the central bank said the new Head Office is located at 42 Castle Road, Ridge Accra.

The banking Hall will be situated on the ground floor of the Tower Block, while all other services will be offered on the first floor of the same building.

The Bank of Ghana emphasized that from the effective date, all official correspondence, banking services, visits and deliveries should be directed to the new location.

However, it clarified that telephone numbers and email addresses remain unchanged unless otherwise communicated.

Customers and the general public with enquiries may contact the Bank via the following line: +233-30-2666174–6, +233-30-2666361–5, +233-30-2666902–8, and +233-30-2666921–5.

The Bank has expressed appreciation for the public’s continued support and said it looks forward to welcoming clients to its new premises.

Meanwhile, Dr. Johnson Asiama, revealed in February that the government paid $230 million out of the total cost of $261.8 million for the new BoG building, which was constructed by the previous New Patriotic Party government when Dr. Ernest Addison was Governor.

He made this revelation during a presentation in Parliament earlier today Wednesday 5, 2025 following demands from National Democratic Congress (NDC) Members of Parliament (MPs) for a breakdown of the project's financing, cost variations, scope, and timeline.

The projected cost of the project was pegged at $81.8 million, however it increased after multiple reviews and adjustments, Mr Asiama added.

"Mr Speaker as of February this year, a total of 280 million approximately has been paid toward the project with an outstanding balance of 31.8 million dollars yet to be paid to the contractor" he said.

The governor also noted that $48.3 million had been paid in taxes and levies, and separate contracts were awarded for supporting infrastructure, including ICT systems, integrated electronic security systems, and furniture.

Meanwhile, the official inauguration of the Bank Square by former President Nana Addo Dankwa Akufo-Addo was held on November 20, 2024. The facility was designed to integrate advanced technology with modern architecture to enhance the BoG’s capacity in regulating Ghana’s financial system.

During the inauguration, former President Akufo-Addo highlighted the significance of the new headquarters in strengthening Ghana’s financial infrastructure and aligning it with global standards.

Meanwhile, the Office of the Special Prosecutor (OSP) is investigating potential corruption in the procurement process of the BoG headquarters. This probe was initiated in response to a petition from Bawku Central MP Mahama Ayariga, who raised concerns over cost escalations without approval from the Public Procurement Authority (PPA).

The investigation targets former BoG Governor Dr. Ernest Addison, former Deputy Governors Dr. Maxwell Opoku-Afari and Mrs. Elsie Addo Awadzi, as well as the project contractor, Goldkey Properties Ltd.

Ayariga disclosed that in response to his inquiries, Dr. Addison cited "National Security" as the reason for withholding details on project cost variations in a letter dated August 22, 2023. The OSP has yet to release its findings to the public.

Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has disclosed that $48.3 million was paid in taxes and levies related to the construction of the central bank’s new headquarters at Ridge.

Appearing before Parliament on Wednesday, March 5, Dr. Asiama provided a financial breakdown of the project in response to inquiries from National Democratic Congress (NDC) MPs. Lawmakers had demanded clarity on the total cost, funding sources, and variations in expenditure.

He explained that out of the total project cost of $261.8 million, an amount of $230 million had already been paid as of February 2025, with $31.8 million still outstanding.

"Mr. Speaker, as of February this year, a total of 230 million dollars approximately has been paid towards the project with an outstanding balance of 31.8 million dollars to be paid to the contractor," he stated.

Beyond the main structure, additional contracts were awarded for key infrastructure, including:

ICT systems and network infrastructure – $8.6 million

Integrated electronic security systems – $15.8 million

Furniture and furnishings – $11.1 million

Explaining the rationale behind these expenditures, Dr. Asiama said:

"These elements were included to ensure the Bank operates in a secure and technologically advanced environment in line with the needs of a modern central bank."

The new BoG headquarters was inaugurated on November 20, 2024, under former President Nana Addo Dankwa Akufo-Addo. The facility was designed to integrate modern technology and security systems, enhancing the efficiency of Ghana’s financial regulatory framework. During the commissioning, Akufo-Addo emphasized its significance in strengthening Ghana’s financial system to meet global standards.

Key features of the building were highlighted by the former Governor of the Bank of Ghana, Dr. Ernest Addison, who described it as being clad in durable stone. He explained that the building symbolizes permanence and resilience, much like ancient monuments that have withstood the test of time. The choice of material not only conveys the Bank's stature but also requires minimal maintenance, supporting the building’s sustainability goals. This architectural form, he added, reflects the Bank’s role as a regulatory authority and affirms its importance within the nation’s economic framework.

Standing at 100 meters, it is not only the tallest building in Ghana, but also the most sustainable EDGE Advanced structure of its size in the country and in the sub-region. This landmark complex is entirely powered by its own harvested solar energy, setting a new standard for environmentally conscious civic and public buildings across Africa.

Together, the four buildings will accommodate over 2,500 staff and alongside offices and public banking facilities, there is a currency museum, conference and press amenities, 1,500 seat auditorium and rooftop terraces.

The building is estimated to cost $250 million.

The Governor said despite all the innovative features of the building, by acquiring the services of local partners, the Management of Bank of Ghana has ensured that the value for money assessment of the project can boast of a lower cost per square meter than comparable projects in Accra.

“In addition, the construction of THE BANK SQUARE has provided an invaluable opportunity for hundreds of local workers to upskill their trades and crafts. It has equipped them with expertise to create buildings that set new standards in sustainability and craftsmanship, positioning them at the forefront of modern construction in Africa.

“This state-of-the-art facility will foster creativity, collaboration, and efficiency, and undoubtedly it will enhance productivity in the Bank and further drive our success. We envision this building as a hub for innovation, where more groundbreaking ideas will be born and nurtured. It will be a place where our new generation of officials will thrive and achieve new heights in modern central banking,” he added.

The ceremony was graced by the President, the Vice President, the Governor of the Bank of Ghana alongside other dignitaries in the industry.