BoG HQ: Concerns over irregularities finally put to rest – Afenyo-Markin

The Minority Leader, Alexander Afenyo-Markin, has said that the comprehensive breakdown of the project’s costs of the new Bank of Ghana headquarters, as presented by the Governor of the Bank of Ghana, Dr. Johnson Asiama to the Committee of the Whole, suggests that due process was followed in the project’s execution.

The National Democratic Congress (NDC) Minority Caucus on October 3, 2023, demanded the resignation of the BoG governor at the time, Dr Ernest Addison, and his deputies.

The protest was fueled by concerns over the bank’s GH¢60.81 billion loss in the 2022 fiscal year and the allocation of over $250 million for the new headquarters.

Dr Johnson Asiama, while presenting the total cost of the new headquarters of the Central Bank, to the Committee of a Whole in Parliament, stated that there was a value for money in the construction of the new Central Bank’s headquarters.

Addressing Parliament, Afenyo-Markin highlighted that the detailed breakdown of the project’s costs, presented by Dr. Johnson Asiama to the Committee of the Whole, confirmed that the construction of the Bank of Ghana headquarters followed appropriate financial and procurement protocols.

“He has taken us through the step-by-step processes and the step-by-step procedures that the bank followed. I think that is a mark of leadership and on this side of the house, we convey to you our respect for that sincerity. The allegations of irregularity today have been put to a peaceful rest,” he stated.

Afenyo-Markin further noted that the cost variations in the project were justified by security needs – the inclusion of a power generation system, a recycling system, and additional buildings beyond the original scope.

“In your submissions, you highlighted that even the standard costing procedure is lower than the industry market price. You have also shared with us, as the people’s representatives, that the variations were occasioned by necessity, which included security, the need to have a system that will generate power, and a recycling system.

“You also added that apart from the original tower, other additional buildings were originally not considered as part of the original bid. I am happy that Hansard has witnessed all these explanations,” he stated.