The Minority caucus in Parliament has formally notified the Ghana Police Service of its plan to protest, demanding the resignation of the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, his two deputies, and the members of the board.
In a letter addressed to the Greater Accra Regional Police Command, Mahama Ayariga, Member of Parliament for Bawku Central, detailed the caucus’s concerns and outlined their plans for the demonstration.
Scheduled for Tuesday, July 30, 2024, the protest will occur between 8 a.m. and 6 p.m. in Accra, beginning at Obra Spot at Kwame Nkrumah Circle, passing through Adabraka to Kingsway, and ending at the Bank of Ghana headquarters.
The Minority is particularly concerned about the ongoing construction of the BoG’s new head office at North Ridge, citing escalated costs and lack of transparency. The initial estimated cost of $81,882,640 has reportedly ballooned to over $270 million.
Additionally, the Governor is allegedly constructing a new house for himself at an estimated cost of $40 million without disclosing the actual expenses to the Minority.
The protest follows a similar demonstration on October 3, 2023, after the Bank recorded a GH¢60.81 billion loss in the 2022 fiscal year.
The Minority has also accused Governor Addison of acting illegally by printing money for the government without parliamentary approval and writing off about GH¢48.4 billion of government debt.
They argue that the BoG has become insolvent, citing the bank’s significant losses and negative equity, and its request for recapitalization by the central government.
The upcoming protest aims to address these issues and demand accountability and transparency from the Bank of Ghana’s leadership.
