The Bank of Ghana (BoG) says its current Head Office building, which was built in the 1960s by the Nkrumah Government has failed a structural integrity assessment.

It said, the edifice "is no longer fit for purpose and could not stand any major earth tremors."

In a press release on Tuesday, August 9, the central bank explained that "The outcome of the structural integrity work was that the main building does not satisfy the full complement of excess strength required for a building to be considered safe for usage.

"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."

The Minority in Parliament has called out the Governor of the central bank and his deputies after the lender of last resort reported a ¢60.8 billion loss for 2022.

 The Minority Leader Dr Cassiel Ato Forson has questioned why Dr Ernest Addison is spending $250 million to build a new head office for the central bank at a time the Bank is in financial difficulties,

He accused the BoG Governor of printing money to finance this project.

“The Bank of Ghana does not have money but spending $250 million for a new head office, which means he is printing additional money to finance this project,” Dr Forson alleged.

Speaking at a news conference on Monday, August 8, Minority Leader Dr Forson announced that if Dr Addison and his deputies do not resign, the NDC will mobilise concerned Ghanaians to occupy the central bank.

But in a response, the BoG explained that the current "building also does not have the required strength to withstand the expected imposed significant earthquake loads that would be expected to occur in the Accra area.

It said, "Based on the above and looking at the strategic objective of positioning Ghana as the financial hub of the subregion, with prospects of a potential Headquarters for a future regional Central Bank, the Board and Management of the Bank considered a new Head Office building as the most important priority project to support the operational efficiency of the Bank."

The Bank said it also places it "in a very good position to be the host of the regional Central Bank as we currently host the West African Monetary Institute (WAMI) of the Sub-region."