Minority Leader Alexander Afenyo-Markin has warned that the operations of the Ghana Gold Board (GoldBod) could turn into a major scandal, urging its management to be cautious.
The Effutu MP said there were aspects of GoldBod’s operations that were not yet known to the public and cautioned the institution not to take its current position for granted.
“GoldBod is a very big scandal awaiting us. There are things we know that they don’t know. They should be careful,” Mr Afenyo-Markin warned.
His comments follow revelations in an International Monetary Fund (IMF) report about losses incurred under the Bank of Ghana’s Domestic Gold Purchase Programme, which is implemented through GoldBod.
The IMF’s Country Report No. 26/213 shows that losses from the programme in 2025 were far higher than the previously reported US$214 million.
According to the report, the rapid expansion of the programme resulted in losses exceeding US$1.7 billion, equivalent to about 1.5% of Ghana’s Gross Domestic Product (GDP).
Mr Afenyo-Markin’s warning comes as the Minority continues to scrutinise GoldBod’s operations and the financial impact of the gold purchasing programme.
