Painter Working On New Bank Of Ghana Arrested After Allegedly Stealing Over GH¢1 Million In Cables

• A painter working on the Bank of Ghana building at Ridge in Accra has been remanded for allegedly stealing quantities of assorted copper cables
• The assorted copper cables have been valued at GH¢1,035,500 according to reporting from the Accra Circuit Court
• The painter was allegedly seen with two others stealing the cables after a review of surveillance footage from the building

A painter working on the Bank of Ghana building was remanded into police custody for allegedly stealing assorted copper cables, valued at GH¢1,035,500.

Appearing at an Accra Circuit Court, Ahmed Mohammed Lawal was busted after being caught on surveillance cameras.

GNA reported that Lawal pleaded not guilty to charges of unlawful entry and stealing. Two other suspects are on the run.

The theft was reported on February 16, 2025. Investigations revealed the items were sold at Kwame Nkrumah Circle, with Lawal getting GH¢ 2,000.

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The items stolen were quantities of lc x 240 square copper cables and lc x 300 square copper cables.

Controversies around new Bank of Ghana building

The construction of the new headquarters caused controversy because of the central bank's massive losses under the Akufo-Addo administration.

The central bank recorded losses of GH¢60.81 million in 2022, for example

The Bank of Ghana claimed that its headquarters project, in particular, is crucial to its operational needs and that halting construction would have been more financially detrimental.

It also said the older structure in Accra was vulnerable to collapse in the event of strong winds and earthquakes.

Clarity on cost of Bank of Ghana building

On March 5, the Governor of the Bank of Ghana, Dr Johnson Asiama, disclosed that the Akufo-Addo administration paid $230 million for the new building.

Asiama told Parliament that there is an outstanding balance of $31.8 million still due to the construction firm.

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He also noted that furnishing the Central Bank’s new headquarters would cost $11 million.

The Bank of Ghana also spent $48.3 million on taxes and levies related to the construction of its new headquarters.

Concerns over Bank of Ghana building's inconsistent cost

YEN.com.gh reported that the MP for North Tongu, Samuel Okudzeto Ablakwa, published documents suggesting that the project cost had shot up to over $250 million.

The Bank of Ghana previously said one Goldkey Properties Limited was awarded the contract for $121,078,517.94 after five firms were initially shortlisted.

The central bank also rejected earlier claims that it breached procurement rules in its new office building project.

Proofread by Samuel Gitonga, Copy Editor at YEN.com.gh

Source: YEN.com.gh