BoG Crises: Ayariga requests details on the Construction of a new Headquarters Building for the Bank of Ghana under RTI Law

The minority in parliament has requested the Governor of the Bank of Ghana, Dr Ernest Addison, to fully disclose details of processes of procurement and construction of a new headquarters for the Bank of Ghana following the declaration of a GHC60 Billion lose last year.

The legislators requested the information pursuant to section 18 of the Right to Information Act 2019.

In the request letter, Member of Parliament for the Bawku Central constituency, Hon. Mahama Ayariga, said he was directed by the Minority Chief Whip and Member of Parliament (MP) for Adaklu, Ing. Kwame Governs Agbodza to seek for the information from the governor.

He further demanded the BoG to furnish them with the process of procurement undertaken by the Bank of Ghana in constructing a new headquarters at Ridge in Accra.

“The processes involved in the procurement of the construction of the new headquarters building of the Bank of Ghana currently under construction at Ridge in Accra and the contractors involved in the construction. Please provide names of consultants and project managers” the letter stated.

He further seeks clarification on the financial arrangements, the scope of work, bill of quantities, contract and completion date of the said building, among others.

“The financing arrangement of the construction of the new headquarters building of the Bank of Ghana at Ridge in Accra and currently under construction.
The cost, scope of works, bill of quantities and contract start and completion dates of the new headquarters building of the Bank of Ghana currently under construction at Ridge in Accra,” he noted.

The lawyer and MP also requested details on the land acquisition, how it was procured and the price and from who the land was procured.

“How the land on which the new headquarters building of the Bank of Ghana currently under construction at Ridge in Accra was procured and at what price or under what arrangement and from who,” he added.

Meanwhile, 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 hence the need for a new headquarters.

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.

“The outcome of the structural integrity work was that the main building does not satisfy the full complement of excess strength required for a building to be considered safe for usage. This means that in the case of a worst-case gravity and wind loading scenario, for example, unusually strong wind, the building may be significantly affected.

“The building also does not have the required strength to withstand the expected imposed significant earthquake loads that would be expected to occur in the Accra area. Based on the above, and looking at the strategic objective of positioning Ghana as the financial hub of the sub-region, with prospects of a potential Headquarters for a future regional Central Bank,” the statement noted.