The Bank of Ghana (BoG) says it will not disclose details regarding its original decision to situate its controversial head office at the Marine Drive enclave.

North Tongu MP Samuel Okudzeto Ablakwa had filed a Right to Information (RTI) request on the alleged payment of $5 million to Marine Metro Development Limited as part of the central bank’s initial commitment to situate its head office at the enclave.

The controversial head office is now being built at Ridge and Mr Ablakwa had asked the BoG to explain why the Marine Drive Development Limited has not refunded the $5 million it received.

In a response to Mr Ablakwa, the BOG said “Any information relating to the decision to situate the Bank’s new head office at the Marine Drive Enclave or otherwise, are opinions or advice which constitute internal workings of the Bank.

"The said information is therefore regarded as exempt from disclosure by section 13 (1)(a) of Act 989”.

The RTI request had also raised questions of conflict of interest with the MP alleging that the director of Marine Metro Development Limited, Dr Kwame Nyantakyi-Owusu is also a Non-Executive Director of the BoG and brother-in-law of President Nana Akufo-Addo.

In BoG’s response, it said, “The company, Marine Metro Development Limited, is not known to the Bank. The Bank has on no occasion engaged this entity in any capacity.

"The Bank is, therefore, unable to provide any information regarding the Marine Metro Development Limited”.

BoG justifies new ¢250m building

The Bank of Ghana (BoG) has said its current Head Office building, which was built in the 1960s by the Nkrumah Government has failed a structural integrity assessment.

It said, the edifice "is no longer fit for purpose and could not stand any major earth tremors."

https://youtu.be/BOdOswsJzzo

In a press release in August, the central bank explained that "The outcome of the structural integrity work was that the main building does not satisfy the full complement of excess strength required for a building to be considered safe for usage.

"This means that in the case of a worst-case gravity and wind loading scenario, for example, unusually strong wind, the building may be significantly affected."

The Minority in Parliament has called out the Governor of the central bank and his deputies after the lender of last resort reported a ¢60.8 billion loss for 2022.

The Minority Leader Dr Cassiel Ato Forson has questioned why Dr Ernest Addison is spending $250 million to build a new head office for the central bank at a time the Bank is in financial difficulties,

He accused the BoG Governor of printing money to finance this project.

“The Bank of Ghana does not have money but spending $250 million for a new head office, which means he is printing additional money to finance this project,” Dr Forson alleged.