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7 Oct 2016

You can’t believe what Bank of Ghana is giving retiring staff

Bank of Ghana has decided to buy 18-karat gold watches for 72 retiring staff at the cost of $504,000 from a Swiss watch company in the capital Accra.

A report from Ghanaian newspaper, the New Statesman, on Wednesday showed the procurement process underway, with the Central Bank seeking 73 watches in total – 25 units of 18 karat ladies gold watches and 48 units of 18 karat gents gold watches.

When citizens of the nation began raising dust about the move which was described my many as frivolous, the bank responded that it had breached no laws and the gold watches are part of an award scheme in place since the 1970s to reward those who have served for 30 years and more.

“End of service benefits, as part of the conditions of service for staff, is a longstanding tradition of the bank,” The bank said in an email obtained by Guardian.ng.

“In the year 2012, the bank decided to procure the gold watches once every two years in order to control cost and make savings on foreign exchange. No procurement rules were breached in presenting sole sourcing justification to the Public Procurement Authority (PPA) for approval.”

Ghana citizens on twitter are not taking such explanation though and they are making their mind known. See some of the comments below.

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