The Minority in Parliament has called out Finance Minister, Ken Ofori-Atta for attempting to rally Ghanaians towards supporting the Bank of Ghana (BoG) in building a new headquarters.

According to the opposition legislators, the citizenry is suffering from the incompetence and mismanagement of the Minister and the Central Bank Governor, Dr Ernest Addison.

Finance Minister, Ken Ofori-Atta on September 14, asked Ghanaians to support the Bank of Ghana (BoG) to build its new edifice.

According to him, the central bank needs to modernise its operations and have a befitting office as the country hosts the African Continental Free Trade Area (AfCFTA) head office and has the vision to become the financial services hub of the continent.

“With respect to the BoG’s new headquarters, the evidence is clear that decisions to build had already been made long before these ‘losses’ occurred.”

“It is important for us to support such a critical institution to modernise its operations and have a befitting office space for a country that hosts the AfCFTA and has the vision to become the financial services hub of the continent."

Mr Ofori-Atta also supported the Governor of the central bank’s stay in office against the Minority’s demand for his removal from office or resignation following the losses the bank recorded in 2022.

In his estimation, Dr Ernest Addison is professionally contributing his quota to the development of the country.

“Governor Addison is a competent professional of quiet courage. In these nearly seven years, we have worked together to ensure: the inviolability of the banking system; the establishment of the Consolidated Bank of Ghana (CBG) and the Development Bank of Ghana; the raising of over $10 billion in the Eurobond market and AfriExim bank.”

“He brought inflation down to single digits of 7.9% for the first time; and managed an impressive period of currency stability in our country including the implementation of the Gold-for-Oil programme.

“It is either simply the height of irony or a sad reflection of the state of public discourse in our country that this man, steps up in a period of unprecedented global economic meltdown and domestic economic crises, and he is being pilloried for his good work."

However, the Minority in a press release issued on Monday, September 18, signed by its leader, Dr Cassiel Ato Forson, said the minister's call is unfounded.

According to them, the best thing for the minister to do at this time is to demand an independent audit of the expenditure of the controversial project so far.

On the new Bank of Ghana building, the Minister must appreciate the opinion of Ghanaians as represented by their parliamentarians, on the subject matter. The central bank has made losses in three of the past six years; and is projected to declare a loss again in 2023 and possibly in 2024.

The Minority believes it is, therefore, legitimate for citizens to seek clarifications regarding value-for-money considerations in executing such a project and whether current circumstances justify a project of that nature.

They want the Minister to, rather, welcome the call for an independent audit.