IMANI Africa Demands Forensic Audit Into Gold-for-Oil Programme

Imani Africa has demanded a forensic audit into the Gold-for-Oil programme as a forensic review revealed profound fiscal leakages and governance failures.

The assessment concludes that the programme, intended to stabilise foreign exchange reserves, was compromised by systemic vulnerabilities that created deliberate corridors for revenue loss and potential illicit enrichment.

The multinational forensic review was drawn from data from the National Petroleum Authority (NPA), Bulk Oil Storage and Transportation Company (BOST), and the Customs Division.

The review identified a consistent pattern of opacity, preferential access, and structural loopholes.

The Policy think tank wants a Comprehensive Forensic Audit to be commissioned for a vessel-by-vessel and ounce-by-ounce assessment, tracing the entire chain of the G4O programme—from petroleum importation to retail sale, and from gold procurement to final settlement.

It also wants to recover lost revenues through retroactive tax assessments and pursue criminal prosecution of culpable individuals and companies under anti-money laundering and procurement laws.

In addition, it seeks the quarterly publication of all contracts, pricing benchmarks, and reconciliation reports, subject to independent audit.

“The Gold-for-Oil programme has exposed Ghana to significant fiscal erosion and international reputational damage. Delay in enforcing accountability is complicity. The time for decisive action to recover lost revenues, restore institutional integrity, and hold the architects of this scheme to account is now.”

Story by Hajara Fuseini

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