He opined that despite the controversy surrounding the construction of the new building, there is clear evidence that decisions taken towards the move had been made long before the Central Bank recorded its impairment loss of GH¢60 billion in 2022.
In an opinion article authored by the Finance Minister, Ken Ofori-Atta said, it is “important for us to support such a critical institution to modernize its operations and have a befitting office space for a country that hosts the AfCFTA and has a vision to become the financial services hub of the continent”.
The opinion of the Finance Minister is similar to that of the Central Bank Governor who said moves to construct a new headquarters dates back to the 1990s where it began the search for a suitable and secured land.
Speaking at a press conference on August 21, 2023, Dr Ernest Addison said that in 2012, the Bank was allocated an unnumbered 5.19-acre land at Accra Central by the Lands Commission which came with certain issues.
He added that the Bank continued the search for suitable land for the new headquarters throughout the period from 2013 to 2016 and more recently in 2018, the Bank approached the SIC to acquire its vacant land at Ridge near the Ridge Hospital.
Touching on the Minority’s alleged procurement breaches by the BoG, Governor Ernest Addison said no laws have been breached as it acquired all the necessary permits and documentation from the Public Procurement Authority (PPA).