Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has revealed that in February, the government paid $230 million out of the total $261.8 million cost of the new BoG building, which had been constructed under the previous government.

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.