Ato Forson Accuses Bank Of Ghana Of Building Mansion For Governor At The Expense Of Dying Economy
- The Minority Leader says the Bank of Ghana is constructing a new multi-million dollar mansion to house the bank's governor
- Ato Forson revealed this in an X post while questioning the bank's priorities at a time when the country was reeling from economic hardships
- He has urged all stakeholders to take an interest in the bank's activities and scrutinise it to avoid wasteful spending
The Minority Leader, Dr Cassiel Ato Forson, has accused the Bank of Ghana of proceeding to construct a multi-million dollar residence for the bank’s governor.
The new residence is at the former site of the Bank of Ghana Clinic in Ridge, Accra.
Source: UGC
In a post on X on Monday, June 3, 2024, the Member of Parliament for Ajumako-Enyam-Esiam said the former Bank of Ghana Clinic was demolished to pave the way for the construction of the governor’s residence.
He noted that not only was the action detrimental to those who depended on the facility for healthcare, but it was also distasteful for the central bank to spend vast sums of money constructing a mansion when the country was in such dire economic straits.
He noted that the construction of the new building was even more concerning, considering that the central bank had recorded massive financial losses in the previous year.
He said that with losses amounting to 150,000% of the bank’s stated capital, it was unthinkable for them to spearhead such a project.
The Minority leader has called for a halt in ongoing construction and for funds to be redirected to support the country’s economic recovery.
He has urged other stakeholders to critically scrutinise the Bank of Ghana's activities to ensure that the state’s funds are being used judiciously.
BoG governor appointed chairman of COCOBOD educational trust fund
Ernest Addison, Governor of the Bank of Ghana, has been appointed as the chairman of a newly constituted five-member committee tasked with overseeing the new COCOBOD educational trust fund.
The board's mandate is to provide essential primary educational infrastructure to benefit the children of cocoa farmers in underserved cocoa-growing regions.
The committee members include the Director General of the Ghana Education Service (GES), Dr Eric Nkansah; Bismarck Fuachie, the 2022 National Best Cocoa Farmer; Dr Emmanuel A. Opoku, the Deputy Chief Executive in charge of operations at COCOBOD; Ray Ankrah, the Deputy Chief Executive in charge of finance and administration; and Francis Opoku, the Director, Legal and Solicitor Secretary at COCOBOD.
Cedi is predicted to struggle in 2024
YEN.com.gh has reported that analysts predict struggles for the Cedi in 2024 despite the International Monetary Fund's support.
The Cedi is currently the third worst-performing currency in Africa after brief stability amid Ghana’s economic crisis.
Courage Boti, an economist at GCB Capital Ltd, noted that Ghana still had weak reserves despite a 10-month high of $5.9 billion.
Proofread by Berlinda Entsie, journalist and copy editor at YEN.com.gh
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Source: YEN.com.gh
