BoG’s new office will give Ghana ‘greater chance’ as headquarters for ECO – Majority Leader

Osei Kyei-Mensah-Bonsu, the majority leader in parliament, has defended the Bank of Ghana’s (BoG) choice to construct a new headquarters in the middle of the present financial crisis.

When finished, he claims, the new Bank of Ghana headquarters would provide the nation a “greater chance” of being chosen as the home of the ECOWAS’ new currency.

The Suame politician claimed in an interview with Angel FM that when this is accomplished, it will spur Ghana’s economic expansion.

“For a long time, ECOWAS has wanted to use a common currency, which is ECO. The West African countries are considering two countries that can serve as Headquarters for the ECO, a bank to be responsible for that, and they will place under the central bank of that country.

“So far there three countries Nigeria, Côte d’Ivoire, and Ghana being considered to host it but Ghana has a greater chance.”

After the opposition National Democratic Congress (NDC) criticized the central bank for starting such a project, Mr. Kyei-Mensah-Bonsu provided his defense.

In a news conference on August 8, the NDC also charged the Bank of Ghana’s management with egregious negligence and carelessness in previous years.

Thus, if the governor and his deputies do not resign from their positions within 21 days, the party vowed to march to the BoG headquarters and remove them from office.

However, according to a news statement the central bank issued on Tuesday, August 9, “The main building does not fulfill the complete complement of extra strength necessary for a structure to be declared safe for operation. This was the conclusion of the structural integrity study.

“This means that in the case of a worst-case gravity and wind loading scenario, for example, unusually strong wind, the building may be significantly affected.”