BoG paid $48.3m in taxes for new $261.8m headquarters - Governor

The Bank of Ghana (BoG) has spent $48.3 million on taxes and levies related to the construction of its new headquarters at Ridge, Accra, Governor Dr. Johnson Asiama has disclosed.

Addressing Parliament on Wednesday, March 5, 2025, Dr Asiama provided a breakdown of the costs, revealing that the total expenditure on the building now stands at $261.8 million.

He explained that the project was initially valued at $81.8 million in 2020 but increased due to redesigns, statutory requirements, and additional features. As of February 2025, approximately $230 million had been paid, with $31.8 million outstanding.

Dr. Asiama assured Parliament that despite public concerns over the cost, the central bank’s new Board would ensure prudent financial management as the project nears completion.

He said that as of February 2025, the central bank had already disbursed $230 million to contractors and suppliers, leaving an outstanding balance of $31.8 million.

He assured lawmakers that despite the concerns over the project’s rising cost, the new Board of the BoG would enforce tighter financial oversight as construction nears completion.