A tax expert, Mr. Geoffrey Kabutey Ocansey, has described the $261.8 million Bank of Ghana (BoG) headquarters as a wasteful venture.
Speaking on Frontline on Rainbow Radio 87.5FM, he described the issue as unfortunate and an outrageous spending.
He said for a country that is struggling economically, it does not make financial sense to invest such a huge amount in a headquarters.
He also posited that those who have recorded losses in recent times should not be investing $261 million into a new headquarters.
‘’This is a bank that has recorded losses in recent times, and so it had no business investing $261 million in constructing a new headquarters. The country is also struggling economically, so we have no business investing $261.8 million for a new headquarters.’’
Mr. Ocansey claimed that the reason given for the construction is also unacceptable because other banks and businesses nearby have not built new offices.
“The explanation given by the Bank of Ghana for the construction of the new office is laughable and unrealistic.” It’s the most ridiculous. The most unfortunate thing is that, whether we like it or not, they have built the new headquarters.
He has therefore proposed a constitutional review that will limit the powers of state institutions and their leaders in making ridiculous decisions that will have financial consequences for the country.
By: Rainbowradioonline.com/Ghana
