The Bank of Ghana (BoG) is considering commissioning the Architectural and Engineering Services Limited (AESL) to carry out a value-for-money audit on its $261 million new headquarters project.

This decision follows growing public concern over the project's cost.

Speaking before Parliament on Wednesday, March 5, 2025, Governor Dr. Johnson Asiama stated that the audit is a key step in ensuring accountability and transparency in the project's execution.

“The reconstituted Bank of Ghana Board will be sworn in next week and the board will begin reviewing some of these legacy issues. We have scheduled for a board agenda of a detailed briefing of the new BoG building by the project management, and we intend to seek authorisation from the Board to engage AESL for a value for money audit into the new building.

“We believe this will bring clarity to the matter and closure to the issues of our new Bank of Ghana Building”.

As concerns grow among civil society and opposition groups over the cost of the new Bank of Ghana headquarters, an audit has been initiated to address transparency issues. The project is part of the central bank’s broader infrastructure upgrade initiative.

To assess cost alignment with prevailing market rates, the state-owned consultancy firm AESL has been commissioned to conduct a thorough evaluation and propose measures for cost efficiency.

Reaffirming its dedication to responsible financial management, the Bank of Ghana emphasized its commitment to price stability as the nation works toward economic recovery.

“The Bank of Ghana remains committed to its responsibility which is to ensure financial sector resilience and foster economic growth. These are the priorities that guide our action. As an independent Central Bank, we recognise that public trust is fundamental to our operations and that trust is built on transparency, sound decision making and a demonstrated commitment to prudent financial management,” the Governor added.