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

The National Democratic Congress (NDC) has levelled allegations against the Bank of Ghana (BoG), claiming the construction of a new head office costing approximately $250 million.

The party contends that the BoG’s mismanagement and recklessness have negatively impacted Ghana’s economy, affecting citizens’ living standards.

Under the NDC’s “Moment of Truth” series, Minority Leader Cassiel Ato Forson accused the central bank of insensitivity and demanded the resignation of Governor Dr. Ernest Addison and his deputies.

Forson stated, “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 NDC threatened to organize a march to the BoG premises, compelling the governor and deputies to step down within 21 days if they do not voluntarily resign.

Furthermore, the NDC accused the BoG of unauthorized money printing, leading to hyperinflation and plunging a significant portion 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.”