The Director of Communications for the New Patriotic Party (NPP), Richard Ahiagbah, has responded to the Minority Leader, Dr. Cassiel Ato Forson, after Dr. Forson criticized him for claiming that Dr. Forson was a board member of the Bank of Ghana (BoG) when the process of getting a new head office began in 2015.
Dr. Forson denied being part of the processes for the construction of the new head office building and stated that he was not involved in the decision-making. He criticized the BoG’s decision to proceed with the construction of a new head office, especially given the financial challenges the country is facing.
In response, Mr. Ahiagbah shared a picture showing Dr. Forson as a board member of the Bank of Ghana in 2014 and 2015. He raised questions about discussions regarding the procurement of land for the new head office during that time.
The ongoing exchange highlights the political tensions surrounding the construction of the Bank of Ghana’s new head office, especially in the context of financial challenges faced by the country. Both sides are presenting their perspectives on the decision-making process and the involvement of key individuals, emphasizing the need for transparency and accountability in such matters.
The provided information sheds light on the involvement of certain parties, including Messrs KAA Law and Messrs IbisTek Ltd, in offering land to the Bank of Ghana (BoG) for the construction of a new headquarters. It highlights the timeline of events and the decisions made by the BoG’s board members, including Hon. Ato Forson, during 2014 and 2015.
The details indicate the following:
- Messrs KAA Law offered a 7-acre land to the Bank of Ghana at a cost of USS21 million in 2014. However, the location of the land and other factors led to the bank rejecting this offer.
- Messrs IbisTek Ltd offered a 20-acre land near the Achimota Forest at a cost of $2.5 million per acre.
- The Bank of Ghana’s Board, with Hon. Ato Forson as a member, issued a directive in an Extract dated 25th June 2015, to negotiate for the acquisition of the land from Messrs IbisTek Ltd.
- The negotiations did not conclude successfully, and the BoG ended up settling with Messrs IbisTek Ltd, resulting in a cost of GHs1.2 million to the taxpayer.
- Despite Ghana being in a challenging economic situation in 2015, including being a part of the IMF Extended Credit Facility (ECF) program, the Bank of Ghana’s Board, including Hon. Ato Forson, proceeded with the decision to acquire the land for the new headquarters, even though it cost $50 million.
This information provides context for the decisions made by the Bank of Ghana during a period of economic challenges and underscores the complexities involved in land acquisition and construction projects, especially when they involve significant financial commitments. It also raises questions about the rationale behind such decisions given the economic climate at the time.
