Minority Demands Parliamentary Inquiry Into GoldBod Losses Cited In IMF Report

The Minority Caucus in Parliament has called for the Ghana Gold Board (GoldBod) to appear before a Parliamentary Inquiry to account for losses associated with the Bank of Ghana’s Domestic Gold Purchase Programme, which GoldBod administers.

In a press statement dated August 22, 2026, and signed by Deputy Minority Leader, Hon. Patricia Appiagyei, the Caucus said the call follows recent remarks by the Chief Executive Officer of GoldBod, Sammy Gyamfi, between August 17 and 22, in response to questions raised by the Minority about the financial position of GoldBod and the Domestic Gold Purchase Programme.

The Minority said the losses in question were not conjured by them, but were identified in an official report by the International Monetary Fund (IMF), which it described as an independent and internationally respected institution whose assessments are not lightly dismissed.

“We have sought, and continue to seek, a full and transparent reconciliation of GoldBod’s own audited financial statements with the losses identified in that report. This is a legitimate matter of parliamentary oversight of a significant public programme, and it deserves a straightforward answer, not a dispute over who is entitled to ask the question,” the statement said.

The Caucus also accused Gyamfi of directing personal characterisations at Members of the Minority, including the Minority Leader, in the course of his responses.

“We will not respond to those characterisations in kind. We state plainly, and without qualification, that the allegations are false, and we reject them entirely. Legitimate scrutiny of a public institution’s operations and finances is a fundamental exercise in accountability, and no public official is entitled to mischaracterise such oversight as wrongdoing,” it added.

The Minority further stated that public office in Ghana carries defined standards of civility, restraint and respect as set out in the Code of Conduct and Ethics for political appointees, and that every public official, including the CEO of GoldBod, should be held to those standards.

“We remain committed to raising legitimate questions about the management of public assets in a manner that is factual, measured and consistent with the dignity of public office,” the Caucus said, adding that it wants GoldBod’s financial statements reconciled with the IMF report “so that the public record can be settled by facts, tested under parliamentary scrutiny, rather than by accusation on either side.”