BoG governor to face Parliament over new headquarters

March 1, 2025

Dr. Johnson Asiama, Governor of the Bank of Ghana (BoG), will appear before lawmakers on Wednesday, March 5, 2025, to answer questions about the central bank’s recently constructed headquarters.

The summons comes after MPs from the National Democratic Congress (NDC) demanded transparency in August 2023, seeking clarity on the project’s funding, total costs, design specifics, and construction timeline.

During a parliamentary session, Majority Leader Mahama Ayariga confirmed the governor’s upcoming appearance, stressing the need for accountability.

“We have decided at the committee meeting that next week, Wednesday, we will invite the Governor of the Bank of Ghana, as an independent constitutional body, to come to this house to brief us on the pricing of the new Bank of Ghana head office building.

“We want to know how the price variation took place, how quantities were, and the justification for the need for a new Bank of Ghana Headquarters,” Ayariga stated.

The scrutiny follows the high-profile inauguration of the new facility, dubbed The Bank Square, by former President Nana Addo Dankwa Akufo-Addo on Wednesday, November 20, 2024.

Designed to embody modernity, the structure blends innovative architecture with cutting-edge technology, reflecting the BoG’s focus on strengthening Ghana’s financial governance and adaptability.

Officials claim the building will bolster the bank’s ability to regulate the nation’s dynamic financial sector.

“…this new head office provides us with the opportunity to better streamline our operations, improve communication, reduce cost and create the needed synergies for efficiency.

“The Bank Square was designed with the future in mind and stands as one of the most important modern civic landmarks in the city of Accra and for that matter, our nation. This building will play a pivotal role in shaping Ghana’s identity as a leading force in Africa’s financial ecosystem”, former BoG Governor Dr. Ernest Addison said during the inauguration of the facility on November 20, 2024.

At the inauguration, former President Akufo-Addo framed the project as a milestone for Ghana’s economic progress and highlighted that the new headquarters reflects Ghana’s dedication to modernizing its financial infrastructure in order to align with global standards and promote sustainable economic development.

Despite these assurances, lawmakers remain unconvinced, demanding a thorough breakdown of expenditures and decision-making processes ahead of the March hearing.