MINORITY demands PARLIAMENTARY probe INTO GOLD BOD LOSSes

The Minority in Parliament has called for a Parliamentary Inquiry into the financial position of the Ghana Gold Board (GoldBod) and the reported losses associated with the Bank of Ghana’s Domestic Gold Purchase Programme.

In a statement signed by the Deputy Minority Leader, Hon. Patricia Appiagyei, the Minority said the losses were identified in an official report by the International Monetary Fund (IMF) and therefore required a full and transparent reconciliation with GoldBod’s audited financial statements.

The statement follows a series of public responses by the Chief Executive Officer of GoldBod, Sammy Gyamfi, between August 17 and 22, 2026, to questions raised by the Minority concerning the financial position of GoldBod and the Domestic Gold Purchase Programme it administers.

The Minority maintained that its concerns were not fabricated, stressing that the reported losses were contained in an IMF assessment. According to the Caucus, its demand for clarification constitutes legitimate parliamentary oversight of a significant public programme and should be addressed with facts rather than arguments over who has the right to ask questions. The Minority also accused the GoldBod CEO of making personal characterisations against members of the Caucus, including the Minority Leader. It rejected the allegations as false and said it would not engage in personal exchanges, insisting that scrutiny of the operations and finances of a public institution is a fundamental part of accountability. The Caucus further invoked Ghana’s Code of Conduct and Ethics for political appointees, arguing that public officials were expected to uphold standards of civility, restraint and respect. The Minority said it would pursue the appropriate institutional channels in response to what it described as unacceptable characterisations by the GoldBod CEO. It consequently called on GoldBod to appear before a Parliamentary Inquiry to account fully for the losses identified in the IMF report and reconcile them with its own audited financial statements. The Minority said such an inquiry would allow the matter to be settled through facts and parliamentary scrutiny rather than accusations from either side. It added that it would continue to update the public as the matter progresses.

By Kukua Snead-Michaels