Minority Leader commends BoG Governor for transparency on new HQ cost

The Minority Leader in Parliament, Alexander Afenyo-Markin, has expressed gratitude to the Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, for his transparency regarding the construction of the new Central Bank headquarters.

He noted that in Dr Asiama’s report to Parliament, he acknowledged that the entire project was completed at a lower cost than initially projected, resulting in significant savings for the country.

"Dr Addison is no more there, his other deputies are not there. Dr Asiama and his new team are here to give us an honest account of what the records have. And they've been very sincere. Should anybody on the streets of Accra today claim that the Central Bank building did not meet value for money or was too expensive, what the Bank of Ghana is saying is that it is actually cheaper compared to market standards," he stated.

The Central Bank further clarified that of the total construction cost of $222 million, $202 million has been paid, with $20 million still outstanding.

Addressing Parliament on Wednesday, March 5, after Dr Asiama’s report on the project’s cost, Mr Afenyo-Markin emphasised that the construction represented significant savings for the state.

He highlighted that instead of the contractor being paid $2,658 per square metre, the BoG successfully negotiated a lower rate of $2,068 per square metre.

“The Bank of Ghana is saying that, apart from following due process, it has also saved taxpayers money. We have a 107,000-square-metre project, and on each square metre, there is a savings of $600 plus,” he added.