Finance

Ablakwa publishes ‘bombshell’ details about BoG’s US$250m head office

The documents relate to correspondence between the Ministry of Finance and the central bank on among others, the issue of variation of project cost.

The most recent of the four letters published – two on the part of the Ministry and two from the BoG, is dated 17th January 2023, and is written by the Central Tender Review Committee (CTRC) of the ministry.

Among others, the committee said issues it had raised in an earlier correspondence remained “unsatisfactorily addressed” by the BoG. It also advised the BoG to stick to all designs at present “to avoid huge variation costs in future procurement.”

The letter also affirmed that the revised scope of work had been pegged at US$222,760.55.

The lawmaker pointed out that the current figure was not inclusive of the cost of land for the project which he hinted was also saddled with issues.

“It is imperative to point out that the latest variation figure of US$222.79million is without the cost of the land. The cost of land and its dubious acquisition would be the focus of another episode.

“Contrary to claims by some NPP propagandists that the skyrocketing cost of the BoG head office project is due to general inflation and in particular, rising cost of building materials — the Central Tender Review Committee exposes those claims as false,” his post read in part.

Read Ablakwa’s full post below:

 

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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