Emmanuel Cherry, the CEO of the Ghana Chamber of Construction Industry, has urged caution regarding the $261.8 million cost of the Bank of Ghana’s new headquarters, following the disclosures made by the central bank’s governor today.
Speaking on Prime News on ABC News GH, Cherry emphasized that it is “too early to jump into conclusions” and called for a thorough audit to verify the expenditures involved in the project.
In response to concerns raised over the escalating costs, Cherry advised the public not to rush into judgments, especially considering the complexities of large-scale projects like this.
“If we should subject this construction to a normal building, we will get it wrong,” he stated, stressing the need for proper investigation before forming opinions.
He believes that a careful and unbiased audit will help clarify the situation, ensuring that taxpayers’ money has been appropriately managed.
The remarks come after Governor Dr. Johnson Asiama briefed Parliament on Wednesday, revealing that the project’s initial valuation of $81.8 million had ballooned to $261.8 million due to various revisions and added features.
Despite the increased costs, Dr. Asiama assured Parliament of the Bank of Ghana’s commitment to transparency and value for money, with a new board set to review the legacy issues.
Cherry echoed the need for a detailed investigation, ensuring that the full picture of the project’s financial handling is understood before drawing any conclusions.
