BoG building another head office worth US$250 million – Minority alleges

The Minority in Parliament has stated that despite the losses that the Bank of Ghana has incurred, the bank is building another head office at North Ridge worth $250 million.

According to the Minority leader, Dr Cassiel Ato Forson, the BoG’s illegal printing of money is responsible for the depletion of Ghana’s external reserves which resulted in the unprecedented depreciation of the cedi, the main cause of hyperinflation in 2022.

Speaking at a press briefing on August 8, 2023, Dr Forson said: “Perhaps the more troubling fact is that, having brought the Bank of Ghana to this terrible financial state, the Governor and his deputies, have found it prudent and expedient to invest $250 million (GHC2.8 billion) on another Head Office building somewhere at Ridge. In our circumstances, this is the height of insensitivity in the management of the finances of a troubled country.”

In light of this, among other issues, the Minority in Parliament has given the Governor of the Bank of Ghana, Dr. Ernest Addison, a 21-day ultimatum to resign.

According to them, the governor and his deputies must resign.

“In this regard, we call for the resignation of the Governor of the Central Bank and his deputies within 21 days from today. We are resolved to embark on popular action to occupy the Central Bank and drive out the team of inept, callous, and criminal mis-managers of the finances of this country and Save the Bank of Ghana,” he said.

SSD/DA