Bank of Ghana needs cleanup to return it to its glory days – Ato Forson

The Minority Leader Dr Cassiel Ato Fordson has said that apart from ongoing construction of a new Head Quarters with about USD250 million, the Bank of Ghana is also building a new multi-million dollar residence for the Governor where the Bank of Ghana Clinic used to be at Ridge in Accra.

He says that the clinic has been demolished to make way for the new accommodation of the Governor.

Dr Ato Forson attributed the losses incurred by the central bank to some of these projects being undertaken by the BoG.

“The Bank of Ghana’s poor out turns do not justify its decision to carry on with these massive construction projects,” he wrote on his X platform on Monday, June 3.

Below is his full post…

In 2022, Bank of Ghana made a colossal loss of over 600,000% of it’s stated capital of GHS10 million.

The Bank made another loss  equivalent to 150,000% of its stated capital in 2023.

Is this poor record of performance comparable to any central bank’s?

Yet, apart from ongoing construction of a new HQ with about USD250 million, the Bank of Ghana is also building a new multi-million dollar residence for the Governor at where the Bank of Ghana Clinic used to be at Ridge in Accra.

That clinic has been demolished to make way for the new accommodation of the Governor.

The Bank of Ghana’s poor out turns do not justify its decision to carry on with these massive construction projects.

The Bank needs a cleanup to return it to it’s glorious days!