Akufo-Addo set to commission BoG's new $250 million headquarters on November 20

The Bank of Ghana (BoG) will commission its newly constructed US$250 million headquarters, named "The Bank Square,” on November 20, 2024 in Accra.

Last year, the construction of the new headquarters generated various debates after the Central Bank recorded losses worth GH¢60 billion in 2022.

Reports indicated that the bank paid approximately US$250 million for the project.

National Democratic Congress legislators and a cross-section of Ghanaians questioned the relevance of the move, especially when the bank had recorded net losses.

However, the Central Bank clarified that its current building is unable to withstand shocks in the event of earthquakes and other natural disasters.

It also added that the project could not have been halted since earlier costs had already been incurred.

In response, Special Advisor to the BoG Governor, Stephen Opata, said, “This project was already well advanced. Stopping it midway would not have been the best decision under the circumstances."

Meanwhile, President Nana Addo Dankwa Akufo-Addo will be the special guest of honour at the ceremony, scheduled to start at 10 am. The event is strictly by invitation.

SSD/MA

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