Member of parliament for North Tongu, Samuel Okudeto Ablakwa, has expressed frustration over what he described as the naked untruth by the Governor of the Bank of Ghana, Dr Ernest Addison.

According to him, the Governor has in more ways than one evaded answering questions posed with respect to the building of the new BoG head office in Accra. He revealed that Dr Addison carried out his “ill-advised” Restricted Tender relying on Section 38 (b) of Act 663 which refers to disproportionate procurement typically in minor projects, and not a multi-million-dollar project such as the BoG head office.

Mr Ablakwa noted that clearly, the provision has absolutely nothing to do with national security.

“MisGovernor Addison should also be told that we have had enough of his naked untruths. His rather belated attempt to hide under the cloak of national security won’t save him.”
Samuel Okudzeto Ablakwa

Reacting to the BoG Governor’s press conference, Mr Ablakwa in a statement today, August 22, 2023, stated that “MisGovernor” Addison still refuses to disclose to Ghanaians the latest cost of his majestic “legacy head office” project despite his “verbose press conference and additional mumbo jumbo press statement”. To this, he questioned whether Dr Addison is embarrassed to publicly mention the colossal figure of US$222.79 million, which excludes the cost of land.

“Why is MisGovernor Addison unable to explain to Ghanaians why his insensitive opulent legacy office project keeps spiraling out of budget from an initial PPA approved amount of US$81.8million to the current US$222.79million (excluding land cost)?Why is MisGovernor Addison still advertising the spectacular recklessness and gross mismanagement that has led to the BoG making unprecedented losses of GHS60.8billion and negative equity of GHS55.1billion?”
Samuel Okudzeto Ablakwa

Also, the North Tongu legislator quizzed the reason for “MisGovernor” Addison claims that he started his “ostentatious legacy project” in good times, further probing whether anyone can describe a project whose procurement process commenced in 2020 during the peak of COVID-19 as a good time.

Mr Ablakwa explained that actual construction of the project began in 2021 and continued throughout the 2022 crisis period of the Central Bank, and also in the face of Ghana’s current economic IMF-bailout bankruptcy.

With this, he underscored that the cost is now three times its initial estimate, insisting that “this must certainly be the definition of reckless, sleazy and destructive leadership”.

“Why is MisGovernor Addison running away from, and refusing to address the litany of procurement breaches including illegally commencing construction based on his expansive revised design specifications before seeking approval from the Central Tender Review Committee?”
Samuel Okuzdeto Ablakwa

Provisions on sourcing of project

Similarly, Mr Ablakwa highlighted that Dr Addison relied on Section 72 (5) (b) of Act 663 which relates to a national emergency or a catastrophe to wrongly single source MULTICAD.

Again, he revealed that the provision has absolutely nothing to do with his belated efforts to hide under the “weird cloak” of national security.

“MULTICAD’s articles of incorporation obtained from the Office of the Registrar of Companies is clear about a 10th December 2021 registration, not re-registration as BoG claims. MisGovernor Addison has simply confirmed my discovery that Ronesans Holdings is not registered in Ghana. The ex post facto attempt to claim they partnered with a local firm doesn’t save Addison.”
Samuel Okudzeto Ablakwa

Moreover, Mr Ablakwa expressed that at least, despite all the “atrocities” of the National Cathedral project managers, they ensured Rizzani de Eccher of Italy was registered in Ghana with their local partners: Barbisotti and DeSimone when they formed a JV known as RIBADE.

In light of this, he emphasized that the BoG Governor must be told in the face that Ghanaians have had enough of his “recklessness, mismanagement and untruths”.

“Yesterday, Ghanaians expected a contrite apology, an immediate resignation, and a suspension of his gravely insensitive, sleazy and majestic office project which has become an iconic symbol of his reckless mismanagement. Instead of holding on to his job after this fantastic disaster, he should just resign and save our ears from his reams of gobbledygook.”
Samuel Okudzeto Ablakwa