Prove BoG Head Office Isn’t for Sale – NPP Challenges Gov’t

The New Patriotic Party (NPP) has challenged government to provide concrete proof that plans to sell the Bank of Ghana’s over 261.8 -million-dollar ultra-modern headquarters have been abandoned for good.

According to the opposition party, mere denials from the Central Bank are not enough to calm growing public concern over the alleged plan to sell the landmark Bank Square building under a controversial sale-and-leaseback arrangement.

The demand comes after widespread reports claimed the central bank was considering offloading the facility while continuing to occupy it as a tenant. Although the Bank of Ghana has firmly dismissed the reports as false and misleading, the NPP insists unanswered questions remain.

In a statement issued yesterday, the party’s Finance and Economic Policy Committee pointed to comments made by Finance Minister Dr. Cassiel Ato Forson on Joy News’ PM Express shortly after presenting the 2025 Budget.

According to the NPP, Dr. Forson suggested that the central bank could explore internal recapitalisation options, including the possibility of selling and leasing back its new headquarters.

The party argues that those remarks, coupled with recent reports of a purported $260 million sale-and-leaseback proposal, have fuelled legitimate concerns that the idea may still be alive within government circles.

“We acknowledge the Bank’s denial and take it at its word that no such transaction is on the table today. However, the government must substantively abandon the idea,” the statement stressed.

The NPP is now demanding that the government publish a detailed recapitalisation roadmap for the Bank of Ghana, clearly outlining funding sources, financing mechanisms and timelines for restoring the institution’s financial strength.

The opposition maintains that selling the headquarters would do little to solve the Bank’s underlying financial challenges and would amount to sacrificing a valuable national asset for a short-term cash injection.

It further warned that a sale-and-leaseback arrangement could saddle the central bank with years of rental payments while surrendering ownership of a property expected to appreciate significantly in value.

The party also raised concerns over possible conflicts of interest, suggesting that institutions regulated by the Bank of Ghana could eventually end up financing or owning the building.

The NPP noted that government and the central bank have already agreed on a phased recapitalisation programme running from 2026 to 2032, urging authorities to focus on implementing that strategy instead of exploring asset sales.

“The Bank Square belongs to the people of Ghana. It is not a distressed asset to be auctioned to plug a hole that prudent policy should never have created”, the statement declared.

While the Bank of Ghana continues to reject reports of any planned sale, the NPP says the government must back its words with action and provide unmistakable evidence that the proposal has been permanently shelved.