Bank of Ghana moves to quash speculation over future of new headquarters
The Bank of Ghana has issued a firm rebuttal to claims that its newly constructed headquarters could be put on the market, insisting that the facility remains a core operational asset and is not under consideration for disposal.
The intervention comes amid renewed public scrutiny of the central bank’s finances and follows reports suggesting that a sale-and-leaseback arrangement involving the headquarters was being explored as a possible means of strengthening the institution’s balance sheet.
In a statement released on June 2, the central bank sought to draw a clear line under the speculation, describing reports that it was considering selling the facility as inaccurate.
“The Bank of Ghana categorically states that this report is false and misleading. The Bank is not considering, discussing, or planning the sale of its new headquarters,” the statement said.
The headquarters, known as The Bank Square, has remained a subject of public interest since its completion because of both its scale and cost. The facility was commissioned in late 2024 and became the Bank’s official operational base the following year after an investment reported to exceed US$260 million.
While debate surrounding the project has persisted in some quarters, the central bank maintains that the building was developed to support its long-term institutional needs and strengthen its operational effectiveness.
According to the Bank, suggestions that discussions are underway to dispose of the property do not reflect reality and should not be treated as credible.
The clarification follows reports citing unnamed sources who claimed that possible options for monetising the asset had been discussed within official circles. The reports further suggested differing opinions among decision-makers regarding such a move.
However, the Bank of Ghana says no such process is taking place.
The central bank also expressed concern about the potential consequences of unverified reports involving key national financial institutions, warning that misinformation can affect public confidence and contribute to uncertainty within the financial sector.
The latest response comes against the backdrop of continued discussion about the Bank’s financial performance. Although the institution recorded significant losses in recent years, it has also undertaken a series of measures aimed at strengthening its balance sheet and stabilising its financial position.
Had a sale-and-leaseback proposal been formally considered, it would likely have generated substantial debate about the management of strategic state assets and the role of the central bank’s headquarters within Ghana’s financial architecture.
For now, the Bank says there is no basis for such speculation.
It has advised the public, investors and stakeholders to rely on information published through its official communication channels, including authorised statements, its website and verified social media platforms, for updates relating to its operations and policies.
The statement appears intended to put an end to uncertainty surrounding the future of the headquarters while reaffirming the Bank’s position that The Bank Square remains a permanent and important part of its operational infrastructure.
Source: myjoyonline.com
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