Bank of Ghana spending $250m on new headquarters – NDC

The National Democratic Congress (NDC) has accused the Bank of Ghana of building a new head office at an alleged amount of $250 million.

The NDC accused the management of the Bank of Ghana of gross mismanagement and recklessness over the past years which Minority Leader, Cassiel Ato Forson said has put a strain on Ghana’s economy thereby deteriorating the standard of living of Ghanaians.

Addressing journalists under the NDC’s Moment of Truth series on Tuesday, August 8, 2023, the party 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.

He has thus demanded the resignation of the governor, Dr Ernest Addison and his deputies.

“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 fail 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.”