Bright Simons of IMANI Africa has called for greater transparency from the newly appointed Governor of the Bank of Ghana (BoG), Dr. Johnson Asiamah, emphasizing the need for full disclosure on critical financial and operational matters.
According to Simons, the Governor has disclosed that approximately $230 million has been paid to the contractor handling the BoG’s new headquarters construction, with an outstanding balance of $32 million.
Additionally, contracts amounting to around $36 million have been awarded for auxiliary infrastructure and fittings.
The Governor has further claimed that 98% of the headquarters building is complete, with his own relocation already effected.
However, Simons raised concerns over the credibility of these statements.
“He refused to reveal to the press that virtually all the remaining staff remain at the old offices because, according to our information, completion is lower than the 98% he claimed. He can easily conduct a full building tour tomorrow morning to show the press that the 98% is correct.”
Bright Simons
He further claimed that several critical commissioning processes remain incomplete, raising concerns about the true operational readiness of the facility.
According to him, a significant malfunction occurred during an early test of the lift system, resulting in a serious accident.
Additionally, he alleged that the facility’s software has not yet undergone thorough independent verification to ensure its functionality and security.
Given these concerns, Simons called on Parliament to insist on a comprehensive commissioning assessment before the facility is declared fully operational.
He stressed that without proper evaluations, the building could pose safety risks to its occupants and fail to meet the required technical and operational standards.
Concerns Over Missing Critical Components
Bright Simons also criticized the Governor for withholding information about certain crucial infrastructure components of the new headquarters.
He noted that essential facilities such as the vault, currency processing center, data center, backup systems, and integrated fire and flooding mechanisms appear not to have been covered in the original project scope.
He stressed the need for full disclosure of any revisions made to the initial blueprint.
Beyond the construction of the new headquarters, Simons also raised critical questions about the BoG’s role in Ghana’s gold trading initiatives.
The Governor has announced that the central bank will no longer participate in the Gold for Oil program, a move Simons acknowledged.
However, he demanded clarity on other gold-related schemes, including Gold for Reserves, Gold for Forex, and Automatic Surrender. “If any are being maintained, would he usher in a new era of transparency around the criteria for the selection of aggregators, brokers, purchasers, etc?”
Meanwhile, a major concern to Simon is the introduction of GoldBod, the entity set to take over the Gold for Oil program.
Accordingly, he raised doubts about its financial feasibility, questioning how a newly established entity with no credit history could secure the billions of dollars required to function as the country’s sole exporter.
“The amount needed could easily exceed $4bn a year. Can the Governor publicly explain whether the Bank of Ghana will be a/the lender to GoldBod or not?”
Bright Simons
Accountability in BoG’s Procurement Practices
Moreover, Bright Simons also highlighted past procurement irregularities within the BoG, including dubious expenditures under the previous administration, such as the construction of “regional guest houses.”
He questioned whether these expenditures would persist under the current leadership.
He called for active public engagement in holding leaders accountable, urging citizens to demand more substantive information from duty-bearers.
“Because it seems like they can always just drop a few morsels and the public, never having really tasted real transparency and serious governance before, would just meekly lap it up.”
Bright Simons
With growing calls for increased transparency, the newly appointed Governor of the Bank of Ghana faces escalating pressure to uphold accountability in financial and governance matters.
Stakeholders expect clear and open communication regarding key policy decisions, ensuring that the central bank operates with the highest standards of integrity and public trust.
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