Stop construction of $250m Bank of Ghana's new head office — Dormaahene tells Nana Addo

The Dormaahene, Osagyefo Oseadeeyo Agyemang Badu II, has appealed to President Nana Addo Dankwa Akufo-Addo to stop the construction of the $250m Bank of Ghana's new head office.

Speaking at his palace in Dormaa in the Bono Region on Thursday, August 17, 2023, when a delegation paid a courtesy call on him, the Dormaahene said the plans to construct a new headquarters are misplaced, given the current economic situation in Ghana.

According to him, We heard that the BoG is building a new headquarters at a cost of $250 million dollars. That is about a quarter of the money we are seeking from the IMF. We want the President to intervene. He should meet with them and rescind that decision and communicate the same to us.

The new building is near the Ridge Hospital in Accra and this comes at a time when managers of the bank have been heavily criticized for its losses totalling GH¢60 billion cedis.

Earlier, the management of the Central Bank justified why they invested $250 million in the construction of a new building to serve as its new headquarters in Accra.

In a statement on Wednesday, August 9, 2023, the central bank explained that a structural integrity assessment it conducted revealed that its current head office building is no longer fit for purpose and could not stand any major earth tremors.

According to the Bank of Ghana, unlike its current BoG Head Office building, built by the Nkrumah government in the early 1960s, the new head office can stand major earth tremors.

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