Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has announced that a new Board of Directors will be constituted next week to oversee key financial and operational matters, including the ongoing construction of the central bank’s headquarters.
Speaking to Parliament on Wednesday, Dr. Asiama emphasized the importance of transparency in the handling of public funds, stating, “While this project was initiated before our tenure, we are fully aware of our responsibility to operate with transparency.”
Providing details on the cost of the new headquarters at Ridge, Accra, Dr. Asiama disclosed that the project was initially valued at $81.8 million by the Public Procurement Authority (PPA) but was later revised to $121.1 million following a BoG request for re-evaluation.
Subsequent design changes and the inclusion of building management systems further increased the cost to $222.8 million, with additional statutory requirements, security, and sustainability considerations bringing the final figure to $261.8 million.
Dr. Asiama revealed that as of February 2025, a total of $230 million had been paid towards the project, leaving an outstanding balance of $31.8 million to be settled.
He assured Parliament that the incoming BoG Board would thoroughly review these financial commitments.
“The new Board will begin reviewing some of these legacy issues to ensure value for money,” he stated.
