The Head & Board of Bank of Ghana(BOG) Must Resign - FOCAP.

FOCAP as an Advocacy and a Civil Society Group would like to add its voice to the numerous calls for the Board of BOG to resign.

For a Country that came out of Covid broke according to the government leading to various measures to save the economy including the introduction of various taxes and also going to the IMF on our knees for a bailout, to have an institution like the Central Bank start a building which initial cost was 80million dollars and later increased to 120million dollars and now heading towards 250million dollars only shows how Reckless & irresponsible the Board of BOG have been.

According to BOG, the building started around 2021 in the midst of Covid when the government was struggling for funds to even buy common vaccines. I mean, how irresponsible can one be?

Today, this same BOG that's putting up a 250 million dollar headquarters has reported a loss of about 60billion Gh Cedis emanating from them giving Government loans which Government couldn't payback.

Again this same Board went ahead to print new notes without going through Parliament and still run at a loss resulting in haircuts for Citizens with genuine investments with the bank.

It is scary that in the midst of all these hardship citizens are facing with the introduction of various taxes including taxes on Betting and listening to music we still have a group of Board of Directors who can indulge in the Reckless Spending of this nature.

The Creative Art industry which was promised 9 ultramodern theatres since 2016 is yet to witness the completion of just one amphitheatre with a budget of 500 thousand dollars. The government is taxing our online music platforms to raise revenue due to such Reckless and irresponsible spending of an institution such as BOG.

According to the Head of BOG, if they had to make the decision on building that headquarters today, they would have declined.

In the same way, FOCAP would like to tell the Board to have an introspective meeting and resign as they are willingly causing financial loss to the country, otherwise, we have no option than to join the 5th September 2023 demonstration by the Minority MPs against the Board of BOG.