The National Democratic Congress (NDC) has accused the Bank of Ghana of spending $250 million on a new head office.

The NDC blamed the top hierarchy of the Bank of Ghana of what it calls “gross mismanagement” and “recklessness” in recent years.

This, according to the main opposition party, had put pressure on Ghana’s economy and lowered Ghanaians’ standard of living.

Speaking to the media as part of the NDC’s Moment of Truth series in Accra on Tuesday, August 8, 2023, Minority Leader Cassiel Ato Forson accused the Bank of Ghana of being insensitive for building a new head office at Ridge.

The NDC gave the Governor of the Bank of Ghana, Dr. Ernest Addison, and his deputies a 21-day ultimatum to resign.

According to the main opposition party, the management of the Bank of Ghana has run the country into a ditch.

“Perhaps the more troubling fact is that, having brought the Bank of Ghana to this terrible financial state, the Governor and his deputies, have found it prudent and expedient to invest $250 million (GHC2.8 billion) on another Head Office building somewhere at Ridge. In our circumstances, this is the height of insensitivity in the management of the finances of a troubled country.”

“The BOG’s illegal printing of money is responsible for the depletion of Ghana’s external reserves which resulted in the unprecedented depreciation of the Cedi, the main cause of hyperinflation in 2022.”