New BoG Headquarters : Minority Leader welcomes move by new Governor to do a value-for-money audit

The Minority Leader Alexander Afenyo-Markin has welcomed a move by the new Governor of the Bank of Ghana (BoG) Dr Johnson Asiama to conduct a value-for-money audit on the new headquarters of the central bank despite the cost savings.

He expressed optimism that all the facts will be put out by the audit process.

The Governor, Dr Johnson Asiama had informed Parliament of the decision to conduct a value-for-money audit of the new Bank of Ghana Headquarters building at Ridge, Accra.

Briefing a committee of Parliament on the cost of the project on Wednesday, March 5, Dr Asiama said efforts are underway to engage the Architectural and Engineering Services Limited (AESL) to conduct the audit after board approval.

“We believe this will bring clarity to the matter, and we believe this will bring closure to the issue of our new Bank of Ghana building”, he said.

He stated that as of February 2025, a total of $230 million has been paid for the project with an outstanding amount still due the contractor.

Dr Asiama also noted that an additional $48.3 million has been paid in taxes and levies associated with the construction of the building.

In addition to the main building, Dr Asiama explained that several other facilities were part of the project, including an Integrated Communication and Computing (ICC) system and Network Infrastructure, which cost $8.6 million.

Other expenditures included integrated electronic security systems at $15.8 million and furniture and furnishings, which amounted to $11.1 million.

Speaking on this matter on the floor of Parliament after the Governor’s presentation, the Minority Leader said “I welcome the Governor’s closing remarks to the effect that yes, these steps were all taken, these are the hard facts however there is a new board coming in. All these facts will be made known to the new board, and I welcome that, that is how we ensure good governance so the new board just know.

“Governor also assures us that all these things in spite of the cost savings all will still be subjected to a value-for-money audit which is also good. AESL is a known institution and with all the professionals involved I believe that if they look at it they will be able to come to a certain conclusion.”

Full text: BoG Governor justifies $230M headquarters cost in Parliament

 

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