Rex Omar, a seasoned musician, is furious with the Bank of Ghana Governor’s defense of the GHC60.8 billion deficit the Central Bank incurred in 2022.

The argument, in his opinion, is implausible and simply serves to highlight Dr. Ernest Addison’s crude incompetence and the corruption in the Akufo-Addo-led administration.

Mr. Omar’s remark follows the BoG Governor’s justification of the construction of a new office building for the bank, reportedly at a cost of $250 million, during a news conference on Monday. In comparison to the central bank headquarters in Abuja and Dakar, he claimed that the new structure is meant to satisfy modern standards.

However, Mr. Omar expressed his dismay at Dr. Addison’s actions on Tuesday. He claimed that in light of the current state of the economy, he was at a loss to understand how the Bank of Ghana could spend such a staggering sum of money on merely an office building.

The protest against the BoG Governor by the Minority in Parliament, according to the seasoned highlife artist, who is also the convener of the pressure organization Arise Ghana, is quite timely. “Arise Ghana will join demonstration against the Bank of Ghana to expose the rot in government. They cannot take Ghanaians for granted,” he fumed.

NDC lawmakers will organize a protest against Dr. Addison and his two assistants on Tuesday, September 5. Collaboration with Civil Society Organizations, Progressive Forces, and other well-intentioned Ghanaians will be used to carry it out.

No Explanation By BoG Will Make Sense

According to Fred Agbenyo of the National Democratic Congress’ (NDC) communications team, there is no amount of explanation from Dr. Ernest Addison, Governor of the Bank of Ghana (BoG), that will make sense to Ghanaians.

Agbenyo indicated that at the time that the BoG took the decision to build the new head office, the Bank was making a profit but at the time of implementing the decision, “the bank has run bankrupt.”

“What is happening at the Bank of Ghana is pathetic and all of us should be worried. No explanation from the Bank of Ghana and the Governor will make sense to anybody who cares about this country and who is interested in the well-being of Ghanaians. I would have wished that he didn’t even respond to anything at all.”
Fred Agbenyo

Dr. Ernest Addison, the governor of the Bank of Ghana (BoG), had previously claimed that the BoG decided to build a new headquarters in 2019 when the bank was profitable.

This came about, as a result of the Minority in Parliament asking the Central Bank to respond to inquiries regarding the new Central Bank Headquarters. The Minority is currently asking for details on the procedures involved in acquiring the site for the construction of the new headquarters building, among other things. They also want to know the names of the project managers and consultants.

This information was provided in a press release by Mahama Ayariga, a member of parliament for Bawku Central and a private attorney.

Governor Addison revealed that the Bank of Ghana started looking for suitable and secured land for a new Head office, as early as the 1990s in a press release released on Monday, August 21. He claimed that the Lands Commission had given the Bank an unnumbered 5.19-acre plot of land in Accra Central in 2012, but that plot too had problems.