We’ll engage AESL to conduct value-for-money audit on new HQ – Governor Asiama

Governor of the Bank of Ghana, Dr. Johnson Asiama has hinted of plans to engage the Architectural and Engineering Services Limited (AESL) to conduct a value-for-money audit on its $261m new headquarters project. 

Briefing Parliament on Wednesday, March 5, 2025 on the cost of the new BoG building situated at Ridge, Accra, Dr. Asiama said the Central Bank will seek authorisation from the new Board members for a value for money audit of the project.

“The reconstituted Bank of Ghana Board will be sworn in next week and the board will begin reviewing some of these legacy issues. We have scheduled for a board agenda of a detailed briefing of the new BoG building by the project management, and we intend to seek authorisation from the Board to engage AESL for a value for money audit into the new building,” he said.

Dr. Johnson Asiama said the audit forms part of measures to ensure transparency and accountability in the execution of the project amidst the public outcry and backlash over the cost of the project.

“We believe this will bring clarity to the matter and closure to the issues of our new Bank of Ghana Building,” he added.

The audit has become necessary due to the growing pressure from opposition and civil society organizations that are raising concerns about the cost of the new headquarters, which is a component of the Bank of Ghana’s larger infrastructure upgrading plan.

AESL – a state-owned consultancy firm, will be assessing whether the cost of the project aligns with prevailing market rates and provide recommendations on cost-efficiency.

The central bank reiterated its commitment to prudent financial management amidst its core mandate of price stability in line with Ghana’s broader economic recovery efforts.

“The Bank of Ghana remains committed to its responsibility which is to ensure financial sector resilience and foster economic growth. These are the priorities that guide our action. As an independent Central Bank, we recognise that public trust is fundamental to our operations and that trust is built on transparency, sound decision making and a demonstrated commitment to prudent financial management,” the Governor added.

New BoG HQ: Governor Asiama makes case for independent agency to do value for money audit

The post We’ll engage AESL to conduct value-for-money audit on new HQ – Governor Asiama first appeared on 3News.

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