The Minority in Parliament is demanding greater accountability over the financial implications of the Bank of Ghana’s (BoG) Domestic Gold Purchase Programme (DGPP), insisting that the Ghana Gold Board (GoldBod) must answer questions surrounding billions of dollars in gold transactions.
Deputy Minority Leader Patricia Appiagyei said the demand was not aimed at undermining GoldBod but at ensuring transparency in the management of public resources.
The Minority’s concerns follow an ongoing dispute with GoldBod CEO Sammy Gyamfi over the interpretation of the International Monetary Fund’s (IMF) findings on the programme.
The IMF reported that the BoG purchased about US$7.6 billion worth of gold through the programme up to August 2025. The Minority has interpreted the findings as pointing to approximately US$1.7 billion in under-recoveries, equivalent to about GH¢22 billion.
Mrs Appiagyei said the scale of the figures required Parliament to demand clear answers.
“The issue before us is accountability. It is about public money, public gold and the management of a programme that involved billions of dollars. Ghanaians deserve clear answers,” she said.
Mr Gyamfi has rejected claims that GoldBod incurred a US$1.7 billion loss, saying the organisation’s audited 2025 financial statements recorded an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion.
He has also explained that GoldBod’s role was mainly to purchase, assay and export gold on behalf of the BoG, while the central bank handled the trading and sale of the gold to off-takers.
The Minority, however, says GoldBod’s role does not exempt it from scrutiny and wants Parliament to examine the pricing, fees, discounts, premiums and other commercial terms involved in the transactions.
Mrs Appiagyei said Parliament has a constitutional responsibility to scrutinise the use of public resources and establish whether the country received value from the programme.
“The personalities may change, governments may change, but accountability remains. We owe it to the Ghanaian people to establish what happened to their resources and who must answer for it,” she said.
