The National Democratic Congress (NDC) has slammed the Bank of Ghana over its decision to invest in a new headquarters valued at $250 million.
The party says the decision is not financially prudent, especially when the bank is making losses and on the verge of collapse.
Minority Leader Dr. Cassiel Ato Forson, addressing journalists on Tuesday, August 8, 2023, accused the governor, Dr. Ernest Addison, and his deputies of mismanaging the bank.
He said the leadership of the bank has been reckless, and that has put a strain on Ghana’s economy.
The Minority Leader further asked the governor and his deputies to resign or they would mobilise Ghanaians to march to the premises of the bank.
“Perhaps the more troubling fact is that, having brought the Bank of Ghana to this terrible financial state, the Governor and his deputies, have found it prudent and expedient to invest $250 million (GHC2.8 billion) on another Head Office building somewhere at Ridge. In our circumstances, this is the height of insensitivity in the management of the finances of a troubled country.”
He also accused the BoG of illegally printing money, which has resulted in hyperinflation.
“The BOG’s illegal printing of money is responsible for the depletion of Ghana’s external reserves, which resulted in the unprecedented depreciation of the Cedi, the main cause of hyperinflation in 2022.”