Bawku Central MP Mahama Ayariga says the Bank of Ghana (BoG’s) Governor’s justification for the GH¢60.8 billion loss the central bank accrued in 2022 is untenable. 

Mr Ayariga said the explanations Dr Ernest Addison provided are palpably unacceptable.

The former Information Minister in a Citi FM interview on Monday, August 21, insisted that the central bank cannot spend $250 million to construct a new head office in the current economic crisis. 

He thus said the Minority in Parliament will not renege on their demand for his resignation and that of his two deputies for their gross mismanagement. 

“This is the most ridiculous and palpably unacceptable and laughable explanation that a governor can give for spending such an amount of money when your country is facing the kind of challenges that we are facing today.”

“Anytime you have a problem with your structure, just come to Parliament, and we will review your law and give you whatever structure you need to function. So I disagree with everything he [Dr. Ernest Addison] has said.”

“We are still going to hold him accountable and demand that he must resign, and so we are still going to go out there and demonstrate until he leaves office,” he said. 

Governor Addison at a press conference on Monday, justified the construction of a new office building for the bank reportedly at a cost of $250 million.

Dr Addison said the new building will have some sensitive features which the current head office building does not have.

These features according to him, will include data centres, currency processing centres and more.

The Governor also said the new building is designed to meet a modern-day head office of a central bank as compared to those in Abuja and Dakar.

He, however, did not make mention of the exact amount being quoted as the cost of the project.

He said he has requested a more detailed response to be released to address all other concerns regarding the project.

“The Bank then began to plan the building of its new head office taking into consideration the need to ensure that the building meets all the requirements of a modern central bank of international standards similar to central bank head office buildings in Abuja and Dakar and include provision for data centres, currency processing centres, volts and other sensitive installations, so it is not just a simple ordinary building.”

Dr Addison also insisted that the central bank followed all procurement processes in the country and did not breach any law in this endeavour. 

“Let me reemphasize that the Bank followed all the necessary procurement processes in this endeavour,” he said. 

Meanwhile, NDC MPs will on Tuesday, September 5, organise a demonstration against Dr Ernest Addison and his two deputies. 

It will be done in collaboration with Civil Society Organisations, Progressive Forces and other well-meaning Ghanaians.