Acting Director General of the Ghana Geological Survey Authority, Isaac Mwinbelle, has justified the need for the Central Bank to relocate from its current location in Accra to Ridge, citing seismic reasons.

The Central Bank in a statement issued on August 8, 2023 explained the decision was also due to the old-age structure built in the 1950’s, which it adds is currently not fit-for-purpose.

Despite varied views and criticisms on the construction of a new BoG head office, the Acting DG of the Geological Survey Authority told Accra-based GBC News that although the current location of the Bank of Ghana was yet to experience any earth tremor, a recent tremor occurred at Jamestown, a location which is closer to the Bank’s location.

Isaac Mwinbelle further noted that given the structural integrity assessment conducted by the Central Bank, the new headquarters building at Ridge, will be constructed to withstand any earth tremors and be well fortified.

“The coastal parts of Ghana has a number of fault lines that passes through the area, but the prominent ones which have for the period produced some substantial earth tremors and earthquakes are the fault lines that are within the Kokrobite, Weija and Dansoman area and most of the earthquakes that have occurred over the period is as a result of the movement along these fault line,” he told GBC News.

“The latest one, which was the 10th of March this year, if you look at the epicenter, it was close to Jamestown, meaning that it's moving towards the current location of the Bank of Ghana,” Mwinbelle added.

He clarified that although fault zones in these areas are yet to produce any substantial Earth tremor, the BoG is justified in “being proactive by doing an assessment to find out whether the current location is suitable for a Central Bank or not”

“I think it is a plus for them because they must ensure the safety of the bank, the safety of the staff, as well as the safety of whatever is contained in there,” the Acting Director-General said.

Mr. Mwinbelle reiterated that the move by the BoG is in the right direction as the Bank must ensure structural safety, that of the staff and resources, adding that the new location of the headquarters building is better off and further away from an offshore area.

MA/WA

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