New BoG Building: $230m paid to contractor, $31.8m still owed –Dr. Asiama

Dr. Johnson Pandit Asiama, the new Governor of the Bank of Ghana (BoG), has disclosed that the state, under the previous Nana Akufo-Addo administration, has paid $230 million to the contractor working on the new BoG building project. However, there remains an outstanding balance of $31.8 million still owed to the construction firm.

He shared that the total cost of the project has now increased to $261.8 million, with payments made to the contractor as recently as February this year.

“As of February this year, approximately $230 million has been paid towards the project, leaving a remaining balance of $31.8 million due to the contractor,” Dr. Asiama revealed during a parliamentary session on Wednesday, March 5.

Additionally, Dr. Asiama highlighted that a further $48.3 million has been paid in taxes and levies related to the building’s construction.

Beyond the main building, Dr. Asiama explained that the project includes several other key facilities. These include an Integrated Communication and Computing (ICC) system and Network Infrastructure, which cost $8.6 million, along with integrated electronic security systems priced at $15.8 million. The cost of furniture and furnishings amounted to $11.1 million.

He stressed that these investments are essential to ensure the Bank of Ghana operates in a secure, modern, and technologically advanced environment, reflecting the evolving needs of a contemporary central bank.

In November 2024, the former President, Nana Akufo-Addo, officially inaugurated the new facility, which serves as the BoG’s headquarters. The state-of-the-art building, located in the heart of the national capital, symbolizes financial strength and modernity. This facility represents a significant milestone in the Bank of Ghana’s history, a key institution of the nation’s economic independence since its founding in 1957.