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BusinessHeadlines

BoG building: Asiama assures Parliament of value for money audit

Mitchell Asare Amoamah By Mitchell Asare Amoamah Published March 5, 2025
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The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has assured parliament the Central Bank will conduct a value for money audit into the construction of the over $261 million head of office.

Dr. Asiama was summoned to brief Parliament on the cost of the project, which has been a subject of controversy.

The Minority, through its leader, Alexander Kwamena Afenyo-Markin, however, attempted blocking the briefing of the Governor citing procedural errors.

The Majority leader, Mahama Ayariga, who summoned the governor, insisted proper procedure was followed, questioning what the NPP MPs were afraid of.

After a brief suspension of sitting by the first deputy speaker, Bernard Ahiafor, who was presiding, the house resumed with the two leaders repeating the same arguments for and against.

The governor was finally given the opportunity to brief the house where he announced the project, which is 98% complete and had an initial cost of $81 million, which eventually became $261.1 million with over $30 million of the amount outstanding to be paid to the contractor.

The briefing also revealed that the cost of the project per square meter was less compared to similar projects in the sub-region. This revelation excited the minority MPs who were initially against granting an audience to the governor.

The NPP Members of Parliament (MPs), including their leader, Alexander Kwamena Afenyo-Markin, sang songs of exoneration afterwards with Abetifi MP Bryan Acheampong stating the plan of the majority in summoning the BoG Governor is to embarrass them.

Majority Leader Mahama Ayariga, however, defended the decision to haul the governor before the house, which he argued had provided new information on the project. The Bawku Central MP charged the Central Bank to conduct a value for money audit and furnish the house with the report

The Governor, who had earlier announced that the private firm AESL will be contracted to audit the project when the BoG board is sworn in, assured the house the outcome will be made known to the house afterwards.

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