Dr. Johnson Asiama defended the $11.1 million furnishing cost for the new Bank of Ghana headquarters before Parliament, emphasizing the need for modern facilities. The new location aims to improve operational efficiency and regulatory capabilities amidst economic scrutiny regarding project prioritization. Despite criticism, the Governor maintains that it is essential for supporting financial stability in Ghana.
On Wednesday, Dr. Johnson Asiama, the Governor of the Bank of Ghana (BoG), defended the $11.1 million expenditure on furnishings for the new headquarters during a session of Parliament’s Committee of the Whole. This committee consists of both Majority and Minority Caucuses, and on this occasion, media representatives were permitted to attend the discussions.
The contemporary facility, inaugurated on November 20, 2024, by former President Nana Addo Dankwa Akufo-Addo, is strategically located in Accra. In his remarks, Dr. Asiama emphasized that the old headquarters was structurally compromised and inadequate for current needs, stating, “Mr. Speaker, furniture and furnishings were awarded at $11.1 million.”
He reiterated the central bank’s dedication to sound financial management and its vital role in sustaining financial stability. The new headquarters is anticipated to enhance the BoG’s regulatory capabilities while advancing the government’s goals for economic stability and growth in the financial sector.
Nevertheless, the project has drawn public scrutiny regarding its substantial cost, with critics questioning its prioritization amid prevailing economic difficulties. The bank, however, asserts that the new headquarters will offer a safe, modern workspace for its employees, thereby improving services within the financial sector.
Despite ongoing controversy, Dr. Asiama expressed confidence in the positive impact of the project, highlighting its significance to the development and stability of Ghana’s economic landscape.
In summary, the Bank of Ghana’s $11.1 million expenditure on the furnishing of its new headquarters has sparked debate in Parliament and among the public. Governor Dr. Asiama has defended this cost by highlighting the need for modern infrastructure and the benefits it will bring to the financial sector. As Ghana navigates economic challenges, the bank remains committed to enhancing financial stability and supporting growth through its upgraded facilities.
Original Source: www.ghanabusinessnews.com
