The Governor of the Bank of Ghana, Dr. Johnson Asiama, has justified the decision to construct a new headquarters, stating that the old building lacks the structural integrity required for continued use.
Appearing before Parliament on March 5, Dr. Asiama explained that discussions regarding the construction of a new headquarters date back to 2011, when the then Board of Directors explored acquiring land for the project. However, the board at the time could not finalize a location before its tenure ended.
“Even in 2016, when I was the Deputy Governor, the same issue was being considered; however, we could not settle on a specific location,” Dr. Asiama revealed.According to the Governor, a 2019 structural integrity audit was conducted under a new board, revealing that the existing Bank of Ghana headquarters—built in the late 1950s—had developed significant structural defects over the years.
“The existing headquarters had developed significant structural defects and was no longer fit for purpose,” he emphasized.Dr. Asiama’s explanation comes in response to concerns over the necessity and cost of constructing a new facility. However, he maintained that the safety and operational efficiency of the central bank necessitate the move.