The Bank of Ghana, represented by Governor Dr. Johnson Asiama, defended the $11.1 million furnishing costs for its new headquarters during a Parliamentary session. He highlighted the inadequacy of the old building and the necessity for a modern facility to enhance financial regulation in Ghana. Despite facing criticism, he asserted that this investment supports economic stability and growth in the financial sector.
Dr. Johnson Asiama, the Governor of the Bank of Ghana (BoG), addressed Parliament’s Committee of the Whole regarding the $11.1 million furnishing costs for the central bank’s new headquarters. This meeting allowed media attendance as both Majority and Minority Caucuses gathered to discuss national interests. The new headquarters, inaugurated on November 20, 2024, is located in Accra and replaces the outdated facility, which he cited as unfit for purpose due to structural defects.
In his remarks, Dr. Asiama reinforced the BoG’s commitment to prudent financial management and the importance of maintaining financial stability. He explained the necessity of the expenditure for furniture and furnishings, stating, “Mr. Speaker, furniture and furnishings were awarded at $11.1 million.” The new facility is anticipated to enhance the bank’s effectiveness in regulating Ghana’s financial system and will align with government agendas aimed at fostering economic stability and growth in the financial sector.
Despite facing criticism about the high costs while addressing economic challenges, the BoG insists that the new headquarters will offer a secure and modern workspace for its employees. Aimed at improving service to the nation’s financial sector, Dr. Asiama emphasized the project’s significance, affirming the critical role of a stable and efficient financial system for facilitating Ghana’s economic progress.
In conclusion, the Bank of Ghana’s Governor, Dr. Johnson Asiama, defended the $11.1 million furnishing costs for the new headquarters amidst concerns regarding economic priorities. The facility, inaugurated in November 2024, is expected to significantly upgrade the bank’s operational capacity and contribute to Ghana’s financial stability, despite ongoing criticism regarding cost. Dr. Asiama remains confident in the long-term benefits of the project for the nation’s economy.
Original Source: www.ghanabusinessnews.com
