New BoG headquarters is to pave way for the 'ECO' currency - Kyei-Mensah-Bonsu

Majority Leader in Parliament and Minister for Parliamentary Affairs Osei Kyei-Mensah-Bonsu has justified the decision by the Bank of Ghana (BoG) to build a new headquarters.

According to him, building a new headquarters for the BoG will in the future serve as a Headquarters for ECOWAS’ new currency ECO when it is successfully implemented as planned.

“For a long time, the ECOWAS wants to use a common currency which is the ECO. The West African countries are considering two countries that can serve as Headquarters to the ECO, a bank to be responsible for that and they will place under the Central bank of that country”, Kyei-Mensah-Bonsu told Angel FM Kumasi in an interview monitored by MyNewsGH.com.

He further revealed that, “So far three countries Nigeria, Côte d’Ivoire, and Ghana being considered to host it but Ghana has a greater chance ”.

This comes after the NDC in a press conference accused the Bank of Ghana of building a new head office at a whopping $250 million.

The NDC also accused the management of the Bank of Ghana of gross mismanagement and recklessness over the past years which Minority Leader, Cassiel Ato Forson said has put a strain on Ghana’s economy thereby deteriorating the standard of living of Ghanaians.

The party threatened to march to the premises of BoG to drag the governor and his deputies from office if they fail to resign within 21 days.

But the management of the central bank has justified why they invested $250 million in the construction of a new building to serve as its new headquarters in Accra.