The Minority Caucus in Parliament has renewed its call for a parliamentary inquiry into the financial operations of the Ghana Gold Board (GoldBod) and the Bank of Ghana’s Domestic Gold Purchase Programme, insisting that questions surrounding reported losses must be resolved through a transparent examination of the facts.
In a statement issued on Saturday, August 22, 2026, and signed by Deputy Minority Leader Patricia Appiagyei, the Minority said its concerns followed a series of public responses by GoldBod Chief Executive Officer Sammy Gyamfi between August 17 and 22.
The Minority said Mr Gyamfi’s comments were in response to questions raised by the Caucus regarding GoldBod’s financial position and the management of the Bank of Ghana’s Domestic Gold Purchase Programme, which GoldBod administers.
According to the Caucus, the losses it has raised were not allegations manufactured by the opposition but were identified in an official report by the International Monetary Fund (IMF).
“The losses associated with the Domestic Gold Purchase Programme were not conjured by the Minority,” the statement said, arguing that they were identified by the IMF, which it described as an independent and internationally respected institution.
The Minority maintained that the IMF’s assessment should be subjected to a comprehensive reconciliation with GoldBod’s own audited financial statements to establish precisely how the reported figures relate to the operations and accounts of the programme.
It said its demand for clarification formed part of Parliament’s constitutional responsibility to scrutinise the management of public funds and assets.
“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,” the Caucus said.
The Minority stressed that its questions were intended to establish the facts surrounding the programme and should not be interpreted as an attack on GoldBod or its management.
It further criticised what it described as personal characterisations directed at members of the Minority, including Minority Leader Alexander Afenyo-Markin, by the GoldBod CEO during his responses.
The Caucus said it would not respond to the alleged personal attacks in the same manner.
“We state plainly, and without qualification, that the allegations are false, and we reject them entirely,” it said.
According to the Minority, parliamentary scrutiny of a public institution is a legitimate part of democratic accountability and should not be portrayed as wrongdoing.
It also invoked the standards expected of public officials, pointing to Ghana’s Code of Conduct and Ethics for political appointees.
The Caucus said public office comes with obligations of civility, restraint and respect and expressed the expectation that all public officials, including the GoldBod CEO, would conduct themselves in accordance with those standards.
The Minority indicated that it would pursue what it described as appropriate institutional channels in response to the conduct it complained about.
Despite the increasingly heated public debate over GoldBod and the Domestic Gold Purchase Programme, the Caucus said it remained committed to raising questions about the management of public assets in a factual and measured manner.
It therefore reiterated its call for GoldBod to appear before a Parliamentary Inquiry.
The Minority wants the inquiry to examine the losses identified in the IMF’s report and reconcile those figures with GoldBod’s audited financial statements.
It said such an exercise would allow Parliament to establish an authoritative public record based on evidence and scrutiny rather than competing accusations.
“Accordingly, we call on GoldBod to appear before a Parliamentary Inquiry to account fully for the losses identified in the IMF’s report and to reconcile them with its own audited financial statements,” the statement said.
The latest demand adds to an ongoing political and public debate over the financial performance of GoldBod and the Bank of Ghana’s Domestic Gold Purchase Programme.
The Minority has maintained that the reported losses require further investigation, while GoldBod management has disputed the characterisation of its financial position and defended its reported performance.
The Caucus said it would continue to update the public as the matter progresses.
By 1960news.com
