The
Minority
caucus
in
Parliament
has
notified
the
Ghana
Police
Service
of
its
intention
to
protest
to
demand
the
resignation
of
the
Governor
of
the
Bank
of
Ghana
(BoG),
Dr.
Ernest
Addison
and
his
two
deputies
from
office.
A
letter
written
by
the
Member
of
Parliament
for
Bawku
Central,
Mahama
Ayariga,
to
the
Greater
Accra
Regional
Police
command,
is
also
demanding
the
resignation
of
the
members
of
the
board
of
the
Bank
of
Ghana
According
to
the
letter,
the
protest
will
take
place
on
Tuesday,
July
30,
2024,
“between
the
hours
of
8
am
to
6
pm
in
Accra
in
the
Greater
Accra
Region.”
The
protesters
will
begin
at
Obra
Spot
at
Kwame
Nkrumah
Circle,
march
through
Adabraka
to
Kingsway
and
terminate
at
the
frontage
of
the
Bank
of
Ghana
headquarters.
The
Minority
is
raising
concerns
about
the
ongoing
construction
of
the
BoG’s
new
head
office
at
North
Ridge.
“The
Governor
of
the
Central
Bank
and
his
board
continue
to
engage
in
wasteful
spending
on
the
new
Bank
of
Ghana
Corporate
head
office
building
and
refuse
to
answer
questions
on
the
latest
cost
of
the
building
which,
we
are
told,
has
now
further
escalated
to
over
Two
Hundred
and
Seventy
Million
United
States
Dollars
(USD$270
million)
from
its
original
estimated
cost
of
USD81,882,640.00.
“The
Governor
again
has
embarked
on
the
construction
of
a
new
house
for
the
Governor
himself
at
a
speculated
cost
of
Forty
Million
United
States
Dollars
(USD$40million)
and
has
refused
to
disclose
to
us
the
actual
cost
when
the
Minority
wrote
to
him
requesting
the
information
on
the
cost
of
the
Governor’s
house
under
construction.”
Members
of
the
caucus
staged
a
similar
protest
on
October
3,
2023,
after
the
Bank
recorded
a
GH¢60.81
billion
loss
in
the
2022
fiscal
year.
“Governor
Addison
has
acted
illegally
in
printing
money
for
government
without
recourse
to
Parliament
and
similarly
wrote
off
about
GH¢48.4
billion
of
government
debt.
After
the
BoG
recorded
a
colossal
loss
of
over
GH¢60.8
billion
and
negative
equity
of
over
GH¢55
billion
we
concluded
that
the
bank
has
become
insolvent.
This
is
now
confirmed
by
the
BoG
request
for
recapitalization
by
Central
Government,”
the
Minority’s
letter
added.
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