Dr. Johnson Asiama, Governor of the Bank of Ghana, defended the $11.1 million furnishing cost of the new headquarters before Parliament. He cited the inadequacies of the old facility and emphasized the importance of the new building in enhancing financial regulation and stability in Ghana’s economy, despite facing criticism regarding the cost.
Dr. Johnson Asiama, the Governor of the Bank of Ghana (BoG), defended the $11.1 million expenditure on furnishing the new headquarters before Parliament’s Committee of the Whole. This meeting included both Majority and Minority Caucuses and was unusual for permitting media attendance. The new facility in Accra, inaugurated by former President Nana Addo Dankwa Akufo-Addo on November 20, 2024, was warranted due to the structural inadequacies of the previous office.
Dr. Asiama emphasized that the funding was essential, explaining, “Mr. Speaker, furniture and furnishings were awarded at $11.1 million.” He assured Parliament regarding the bank’s dedication to responsible financial management and its vital role in ensuring overall financial stability in Ghana. The new headquarters is designed to upgrade BoG’s regulatory functions within the financial sector, which aligns with the government’s economic stability goals.
Despite the backlash over the furnishing costs amid ongoing economic difficulties, the BoG insists that the headquarters will facilitate an improved working environment for its employees, ultimately benefiting the financial sector. Dr. Asiama expressed confidence in the project, highlighting its importance for a stable and efficient financial system, which is integral to Ghana’s economic advancement.
In summary, the Bank of Ghana is staunchly defending its $11.1 million investment in furnishing its new headquarters, arguing that the previous office was inadequate. Governor Dr. Johnson Asiama emphasized the facility’s role in enhancing the bank’s operations and its alignment with national economic objectives. Despite criticism regarding the expense amid economic struggles, the bank remains optimistic about the positive impact of this investment on Ghana’s financial stability and growth.
Original Source: www.ghanabusinessnews.com
