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BoG declines to reveal full cost of new head office

The Bank of Ghana (BoG) has declined to provide Bawku Central MP Mahama Ayariga with the complete cost of the bank’s new headquarters building.

Rather, the Board of Governors suggested that he inquire further with the Public Procurement Authority (PPA).

Following Mahama Ayariga’s request for comprehensive financial data pertaining to the construction project, this decision was taken.

BoG declines to reveal full cost of new head office

The decision to withhold the full financial breakdown from public view was made, according to the BoG, because of procedural norms that necessitate obtaining this information through the PPA.

The BoG emphasized in a letter to the legislator that all financial transactions and procurement procedures pertaining to the new head office were completed in compliance with existing regulatory frameworks and oversight procedures.

“With the approval of the Public Procurement Authority (PPA), the BoG awarded a contract for the construction of a bank duty post at the site of the old BoG clinic. The BoG followed the necessary procurement procedures as outlined in the Public Procurement Act, 2003 (Act 663) as amended by the Public Procurement Amendment Act, 2016 (Act 914) in 2022. For the cost and specifics of the construction, please contact the PPA,” a portion of the letter read.

Mahama Ayariga voiced his displeasure with the BoG’s response, citing the significance of transparency in government initiatives as a point of contention. He contends that the BoG has a duty to disclose intelligibly clear and comprehensive information regarding the costs associated with the new head office because it is a public entity.

According to Mahama Ayariga, accountability and public confidence in the administration of public resources depend on transparency.

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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