Dr. Johnson Pandit Asiama, the new Governor of the Bank of Ghana (BoG), has revealed that the previous Nana Akufo-Addo administration paid $230 million to the contractor working on the new BoG building project, with an outstanding balance of $31.8 million owed to the construction firm.
He stated that the project’s overall cost has climbed to $261.8 million, with payments to the contractor made as recently as February of this year.
“As of February this year, a total of approximately $230 million has been paid towards the project, with an outstanding balance of $31.8 million still due to the contractor,” he remarked in parliament on Wednesday, March 5.
Dr Asiama further stated that an additional $48.3 million was paid in taxes and levies related to the BoG building’s development.
Dr Asiama noted that in addition to the main BoG building, the project included various other facilities, such as an Integrated Communication and Computing (ICC) system and Network Infrastructure, which cost $8.6 million.
Other expenses included integrated electronic security systems ($15.8 million) and furniture and furnishings ($11.1 million).
He highlighted that these investments are intended to ensure that the Bank of Ghana functions in a secure and technologically advanced environment, in accordance with the requirements of a contemporary central bank.
Former President Nana Akufo-Addo officially inaugurated the structure, which will serve as BoG’s new headquarters, in November 2024.
The cutting-edge facility, built to represent financial power and modernity, is located in the centre of the national capital.
The new facility marks a watershed moment in the growth of the country’s central bank, which has been a bastion of economic independence since its inception in 1957.