Thursday, October 9, 2025

Bank of Ghana Governor Defends Expenditure of USD 11.1 Million for Furnishing

(3 Minutes Read)

Dr Asiama, in his address to the House, defended the decision, stating that the old BoG office had structural defects and was no longer fit for purpose. He said that the expenditure for furnishing was inevitable while assuring that the bank would continue to maintain its prudent financial management and its role in maintaining financial stability.

Dr Johnson Asiama, the Governor of the Bank of Ghana (BoG), appeared before Parliament’s Committee of the Whole to address concerns over the USD 11.1 million furnishing cost for the central bank’s new headquarters. The state-of-the-art facility, located in Accra, was inaugurated on Friday, November 20, 2024, by former President Nana Addo Dankwa Akufo-Addo.

Dr Asiama, in his address to the House, defended the decision, stating that the old BoG office had structural defects and was no longer fit for purpose. He said that the expenditure for furnishing was inevitable while assuring that the bank will continue to maintain its prudent financial management and its role in maintaining financial stability.

The new facility is expected to enhance the BoG’s ability to regulate Ghana’s financial system while aligning with the government’s broader agenda for economic stability and financial sector growth.

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However, the project has faced criticism over its cost, with some questioning the prioritization of the project amidst economic challenges. The BoG had maintained that the new headquarters would provide a secure and modern workspace for its staff, enabling them to better serve the country’s financial sector.

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