BoG’s $250 million headquarters: ‘Is it to cover up stolen money?’ — Prof Gyampo quizzes

Renowned political science lecturer at the University of Ghana, Professor Ransford Gyampo has questioned the Bank of Ghana's (BoG) decision to construct a new headquarters building estimated to cost $250 million.

In a Facebook post, Prof. Gyampo expressed concern over the timing of the project, asking "why the building can't wait till the country recovers from the current economic mess."

"They can't even be sensible about the times. They think we are all fools. They are telling us times are hard and that we should tighten our belts. Yet they have a justification for spending huge sums of money on a new BoG building," he wrote.

The central bank has defended the project on grounds that the current building constructed in the 1960s by Ghana's first president Dr. Kwame Nkrumah is not resistant to earth tremors.

"If the need for a new building waited when our economy was doing well, why can't it wait when we are in economic miserization?" he asked.

The political scientist insinuated that the project could be an attempt to cover up stolen money.

"Is it that someone has stolen money and is trying to use this project to whitewash it? What is wrong with us?" he questioned.

Prof. Gyampo ended his post, saying "Political curse be on any superior political authority who will one day not hold these guys accountable!!!"

The proposed new building, according to BoG, is designed to be environmentally friendly and earthquake resistant, as well as being for Ghana’s soon-to-be position as a financial hub of West Africa.