The National Democratic Congress (NDC) Member of Parliament for Adaklu and Minority Chief Whip in Parliament, Kwame Governs Agbodza alleged via Twitter on August 11, 2023 that the Bank of Ghana (BoG) has built a luxurious guest house for its governor in the Western Regional capital, Takoradi.

He cited inside sources as having given him information on the edifice which he described as a "creature comfort of the Governor."

He said the facility's official name was "Central Bank of Ghana Governor Guest House", and that it was built just within one year.

GhanaWeb’s FactCheck Desk dug into the facility. Our findings are as follows:

a. Does such a facility exist?

Yes, there is a guest house to that effect and it is located in Takoradi. Evidence is sourced from available public data on the site of the architects who worked on the facility.

“Guest house complex has been built for the Governor of the Central Bank of Ghana. The ultra-modern project is an innovative four-storey building located in Takoradi, the capital of the Western Region,” the Alumetal Group who worked on the project wrote on their website.

b. Was it built in a year?

Alumetal stated that the period of construction was 2017 – 2018, which means it was delivered within a year. Incidentally, De Simone on its site says the project was completed in 2019.



But checks by GhanaWeb reveal that the Takoradi Guest House was initiated around September 2015 and completed under the former BoG Governor Dr. Abdul Nashiru Issahaku during the NDC administration.

The guest house is however not in use at the present and it is important to note that former Governor [Dr. Nashiru] also initiated the construction of the Tamale Guest House which is currently still ongoing.

c. Is the facility for the personal use of the governor?

According to Priningonline.com, a news blog, the facility is for public use. “The Bank of Ghana Guest House is a magnificent edifice that offers comfort, convenience, and luxury to its guests.

“The guest house features 20 spacious rooms, each with a private balcony that offers breathtaking views of the Atlantic Ocean. The rooms are tastefully furnished with modern amenities such as air conditioning, satellite television, and free Wi-Fi access.

“The guest house also has a restaurant that serves both local and continental cuisine, a bar, and a swimming pool that offers a perfect spot for guests to relax and unwind,” their report added.

From the above and with photos that we have seen, it can possibly not be for the use of one man.

What else we know and don't know?

a. Who are the architects?

The project has been realized by Creativita, a 15-years Architectural and Project Management Consultancy Company in Accra managed by the Architect Alex Akoto-Bamfo and his wife, the Architect Josephine Akoto-Bamfo.

b. Who were the contractors?

The project contractors are listed as De Simone Limited.

c. How much was involved in the project

The Factcheck desk scoured available public records but could not find details to that effect.

d. Has the facility been inaugurated?

Again, there was no online record to show that it had been inaugurated and was currently serving the public.

AGBODZA's FULL POST: MORE SHOCKING PROFLIGATE SPENDING UNDER THE WATCH OF THE GOVERNOR OF BANK OF GHANA.

It does appear that the losses, waste and profilgacy we have witnessed at the Bank of Ghana in the last few days, is only a tip of the ice-berg. If Ghanaians thought they had heard enough, then we must brace ourselves for more scandalous revelations about more obscene waste, recklessness and potential corruption by the managers of the Central Bank.

My unimpeachable sources at the Bank have revealed that the Bank of Ghana has erected an ultra-modern four-storey Guest House Complex somewhere in Takoradi just for the comfort of the BOG Governor.

The said creature comfort of the Governor goes by the name "Central Bank of Ghana Governor Guest House", built just within one year.

My sources at the Bank have confirmed to me ongoing plans to erect a similar edifice in Tamale, while similar other wasteful expenditure have been planned to be executed within the next 9 months.

Indeed, evidence from the BOG's Financial Statement indicates some of the major ongoing projects of the bank to include "remodeling of some regional offices, development of the new Bank of Ghana Head Quarters project", and "development of a New Guest House project in Tamale".

The Bank's financial Statement further discloses that legal claims made against the Bank alone amounted to a whopping GHS94.47 million in 2021 and GHS78.95 million in 2022.

The Bank of Ghana is pursuing this disservice of putting up fanciful guest houses in various regions of Ghana for the comfort of its management at a time the Bank has recorded a staggering loss of GH60.8 billion, never before witnessed in the history of Ghana, and a negative equity of GHS55.1 billion.

Management of the Bank appear undaunted by public opprobrium against their waste and are determined to dissipate the public purse even further.

Only this week, we put out evidence of the biggest waste and misplaced priority being undertaken by management of the Central Bank in committing $250 million into an inflated and needless new Head Office at Ridge at a colossal $250 million.

What makes this misplaced project an absolute stinker is the fact that this amount is capable of building five(5) of the state of the art Ecobank Head Office in Accra and six(6) of Kempinski Hotel also in Accra.

To say that the Bank of Ghana which is the lender of last resort currently finds itself embroiled in a sea of scandal, is an understatement. There appears to be no end in sight to the rot that has engulfed the management of the Bank of Ghana.

That is why our call for the immediate resignation of the Governor is even more pertinent. The countdown to the resignation of Ernest Addison and his deputies is on, as the day of reckoning fast approaches. All well-meaning Ghanaians must embrace this call for accountability.

#AddisonMustGo
#OccupyBOGProtest

MORE SHOCKING PROFLIGATE SPENDING UNDER THE WATCH OF THE GOVERNOR OF BANK OF GHANA.

It does appear that the losses, waste and profilgacy we have witnessed at the Bank of Ghana in the last few days, is only a tip of the ice-berg. If Ghanaians thought they had heard enough, then… pic.twitter.com/Os7iZLgorY

— kwame agbodza (@KAgbodza) August 11, 2023