Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, is set to appear before Parliament on Wednesday, March 5, to provide details on the construction of the central bank’s new headquarters, reportedly costing $250 million.

0

His invitation follows demands from National Democratic Congress (NDC) Members of Parliament (MPs) for a breakdown of the project's financing, cost variations, scope, and timeline.

1

Addressing lawmakers, Majority Leader Mahama Ayariga emphasized the need for accountability and transparency in the project.

2

"We have decided at the committee meeting that next week, Wednesday, we will invite the Governor of the Bank of Ghana, as an independent constitutional body, to come to this house to brief us on the pricing of the new Bank of Ghana head office building. We want to know how the price variation took place, how quantities were, and the justification for the need for a new Bank of Ghana Headquarters," he stated.

3

The inquiry follows the official inauguration of the Bank Square by former President Nana Addo Dankwa Akufo-Addo 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.

4

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.

5

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).

6

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.

7

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.

8