The New Patriotic Party (NPP) has called on government to permanently abandon any idea of selling and leasing back the Bank of Ghana’s new headquarters, following recent public debate sparked by a media report suggesting a possible transaction.

The party acknowledged the Bank of Ghana’s denial of the MyJoyOnline report of June 1, 2026, which alleged that the central bank was considering selling its $260 million headquarters.

However, the NPP maintained that the matter cannot be dismissed entirely, insisting the idea was previously raised by the Finance Minister, Dr. Cassiel Ato Forson.

According to the party, the Finance Minister, during a March 11, 2025 appearance on JoyNews’ PM Express, suggested that the Bank of Ghana could explore a “sale and leaseback” arrangement as part of efforts to strengthen its financial position. The NPP argues that this earlier comment indicates the concept has remained within policy discussions.

The party further claimed that the detailed nature of the recent report, including references to valuation figures and board-level disagreements, suggests the issue may have originated from discussions within government circles, even if it is currently not active.

The NPP strongly opposed any sale-and-leaseback arrangement, describing it as an “expensive borrowing mechanism” rather than a genuine recapitalisation strategy for the central bank.

It argued that such a deal would result in the Bank receiving a one-off payment while committing to long-term rental obligations, ultimately weakening its financial position.

The party also questioned the economic logic of the arrangement, claiming it could yield unusually high returns for a potential buyer while placing long-term fiscal strain on the Bank.

The statement further warned that under international accounting standards, a leaseback arrangement could still reflect significant liabilities on the Bank’s balance sheet, thereby failing to resolve its underlying financial challenges.

Instead of asset sales, the NPP urged government to focus on a comprehensive recapitalisation programme for the Bank of Ghana, supported by fiscal discipline and policy reforms.

It called for the publication of a detailed recovery plan outlining funding sources, instruments, and timelines for restoring the Bank’s financial health.

The party also criticised what it described as policy decisions that continue to worsen the central bank’s balance sheet.

The NPP noted that the government and the Bank have agreed on a phased recapitalisation plan running through 2032, but insisted that urgent action is needed given the scale of the institution’s negative equity position.

The party also raised concerns about potential conflicts of interest, arguing that any sale of the headquarters could raise governance issues given the Bank of Ghana’s regulatory role over financial institutions that may participate in such transactions.

It concluded that the central bank’s headquarters “belongs to the people of Ghana” and should not be treated as a distressed asset for financial restructuring.

The statement was signed by Dr. Frank Bannor, Issah Fuseini, Mahama Kabiru Tia (MP), Ekow Vincent Assafuah (MP), and Fred Kyei (MP).