The National Communications Officer of the opposition National Democratic Congress (NDC), Sammy Gyamfi, has responded to the Bank of Ghana Governor's justification for the construction of a new head office at Ridge, Accra.

At a news conference on Monday, August 21, Dr Addison explained that the construction of the building, reportedly at a cost of $250 million, which began in 2019, commenced when the bank was making profits, adding that it preceded the current economic crisis.

But speaking on Joy FM’s Top Story, Sammy Gyamfi stated that the Governor's explanation is a “non-starter.”

Read also: https://myjoyonline.com/new-bog-head-office-wouldnt-have-been-a-priority-project-today-governor/

According to him, the economic situation during the awarding of the contract for the new headquarters on November 25, 2020, was worse than it is presently.

This, he explained, was due to the fact that the country was experiencing a Covid-19 outbreak at the time.

He added that the economy as of that time was also in disarray which the BoG had to even pump in resources to support the government.

Read also:https://myjoyonline.com/its-not-just-an-ordinary-building-bog-governor-justifies-new-office-building/

According to him, the NDC has consistently opposed the project based on three main grounds – timing, cost and processes leading to the project.

“So how can he say it wouldn’t be a priority for the Bank of Ghana to have commenced this project in 2023, when our economic situation at the time this project was awarded, was worse than it was today?” he quizzed.

“Governor Addison has rather made his case worse by the press conference he held today because none of the flimsy justification he canvassed justifies the decision by the Bank of Ghana to engage in this totally misplaced priority [building new office] at this time,” he added.

According to him, the about $250 million invested in the project can be channeled to other development projects in the country.

Mr Gyamfi said that the amount can build about 3,766 units of classroom blocks.

With regard to health, he noted that the money could be used to put up over 3,000 CHPS compounds.

The Governor did not make mention of the amount reported to have been earmarked for the project, except to say further details would be given in response to all the issues raised about the construction.

He said the discussion about building a new befitting office for the BoG started in 1990 long before his tenure as Governor started.