A prominent member of the advocacy group AriseGhana, Bernard Mornah, has criticized the Bank of Ghana’s (BoG) rationale for constructing a new headquarters as “absurd.”
In a press statement, the Bank of Ghana explained that the need to construct a new headquarters stems from the threat of seismic activity.
According to the Central Bank, its current structure, built in the 1960s, lacks structural integrity, and is therefore incapable of withstanding an earth tremor.
But according to Mr Mornah, such reasons is not valid, as many areas in the capital are susceptible to earthquakes.
“If you listen to the Governor of the Bank of Ghana, he said the location of the central bank is earthquake-prone and so it should be removed. Citi FM, Parliament, our Superior Courts, and Kwame Nkrumah Memorial Park, are all located in an earthquake-prone area. The entire Accra is earthquake-prone.
“Ghana Commercial Bank is directly opposite the central bank,” he was quoted by citinewsroom.com.
Bernard Mornah also expanded on the point that there are other buildings in the same area as the current Bank of Ghana headquarters that, according to the central bank’s reasoning, would also be at risk.
“We have the biggest market in Accra called Makola of which all these institutions are within the central bank enclave. If it’s about an earthquake area, then the suggestion is that let’s evacuate all other buildings. In fact, what it will mean is that we will take our capital from Accra. If you make these arguments, which are flimsy, of which you are spending that money, I think that it doesn’t sit well with anyone,” he noted.
Arise Ghana has announced its intention to join the Minority in a protest at the Bank of Ghana on September 5, 2023, demanding the resignation of the governor.
Bernard Mornah emphasized that the government must be aware of the current state of the country and act in a manner that does not worsen its problems.
“We do what is necessary before we do what is desirable. At this critical moment, when the economy is in such turmoil and the IMF has asked the government to suspend major development programs in order to relieve the burden on the citizens of this country, the BoG is thinking of building an edifice that will make them sit comfortably. I think the governor has lost track of time,” he asserted.