New BoG Head Office: 'No procurement laws were broken'- Governor
Dr Addison again maintained that the project has thus been going on for over 3 years even before the DDEP
The Governor of the Bank of Ghana, Dr. Ernest Addison has insisted that the Central Bank followed all the necessary public procurement laws from securing land to commencing its new head office.
He noted that the Central Bank, before deciding in 2019, planned the new head office taking ‘into consideration the need to ensure the building meets all the requirements of a modern central bank of international standards.”
The Bank of Ghana has recently come under pressure following the publication of the 2022 Annual Report and Financial Statements which showed huge deficits in the Bank’s operations.
One other issue that has generated a public uproar is the Bank’s decision to use over US$250 million to build a new head office which revelation has led to many calling for the resignation of the Governor with a demonstration scheduled to take place in that regard.
However speaking at a Special Press briefing on August 21, Dr Addison noted that that contrary to reports, the Central Bank reported profits “of GHC 1.6 billion in 2019, GHC 1.5 billion in 2020 and GHC 1.4 billion in 2021.”
He added that the Bank had as far back as the 1990s begun searching for suitable and secured land for its head office and that after SIC had helped it to acquire the land at Ridge, the Government issued an Executive Instrument to allow it to acquire the same.
Dr Addison again maintained that the project has thus been going on for over 3 years even before the DDEP and that if the Bank was to be taking a decision today, building a legacy Head Office would not have been a priority.
