GoldBod must appear before a parliamentary inquiry to answer for gold-trade losses — Appiagyei

The Minority in Parliament has stepped up its demand for accountability over the financial consequences of the Bank of Ghana’s (BoG) Domestic Gold Purchase Programme (DGPP). Deputy Minority Leader Patricia Appiagyei said the concerns were legitimate parliamentary demands for transparency over the management of public resources. The dispute centres on the financial cost of the DGPP, under which the BoG expanded domestic gold purchases in 2025 to rebuild Ghana’s international reserves and support the foreign exchange market. The IMF reported BoG purchased US$7.6 billion worth of gold, including US$5 billion from artisanal and small-scale miners, with GoldBod involved in purchasing and related activities. The Minority interpreted IMF findings as indicating US$1.7 billion in under-recoveries, equivalent to GH¢22 billion. Appiagyei argued this demanded accountability for public resources and adequate oversight. GoldBod CEO Sammy Gyamfi rejected claims of a US$1.7 billion loss, citing audited financial statements showing a surplus of GH¢5.4 billion. The Minority insists GoldBod must disclose pricing mechanisms, discounts, and commercial terms in transactions. The controversy extends to governance of Ghana’s gold reserves and the role of the central bank in commercial transactions. IMF acknowledges DGPP helped rebuild Ghana’s reserves but urges stronger institutional oversight. Parliament is scrutinizing public resource use and institutional transparency.