Bank Of Ghana Spending $250m On New Headquarters – NDC1 min read
The National Democratic Congress (NDC), is demanding the immediate resignation of the Governor of the Bank of Ghana (BoG), Dr Ernest Addison, and his deputies.
According to the NDC, the Bank of Ghana is building a new head office at an alleged cost of $250 million at a time when the country’s economy is on its knees.
The NDC, led by the Minority Leader, Cassiel Ato Forson, accused the management of the central bank of gross mismanagement and recklessness over the past years, which he claims has put a strain on Ghana’s economy, thereby deteriorating the standard of living of Ghanaians.
Addressing the press under the NDC’s ‘Moment of Truth series on Tuesday, August 8, 2023, he alleged that the new head office of the central bank is being built at Ridge in Accra.
He lashed out at the Bank of Ghana, accusing it of being insensitive.
“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.”
The party threatened to march to the premises of BoG to drag the governor and his deputies from office if they failed to resign within 21 days.
The party also accused the BoG of illegally printing money, which has resulted in hyperinflation, which it says has plunged a large chunk of Ghana’s population into poverty.
“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.”
By: Franklin ASARE-DONKOH
