Akyem Oda Member of Parliament and former Deputy Minister of Health, Alexander Akwasi Acquah, has defended the Minority in Parliament’s decision to scrutinise the operations of the Ghana Gold Board (GoldBod), insisting that the institution is a public entity and must therefore be open to criticism and accountability.
Speaking on UTV’s Adekye Nsroma morning show, Mr Acquah said the concerns raised by the Minority were not targeted at any individual but focused on issues surrounding the financial operations of GoldBod and its collaboration with the Bank of Ghana (BoG).
According to him, GoldBod was established through an Act of Parliament and therefore belongs to the people of Ghana rather than any individual or political administration.
He noted that although the Minority at the time raised concerns about aspects of the legislation establishing the institution, the governing National Democratic Congress (NDC) used its majority in Parliament to pass the law.
“We have keenly followed their work,” Mr Acquah said, explaining that the Minority became particularly concerned following reports of financial obligations allegedly associated with GoldBod and the central bank.
Mr Acquah recalled that when questions first emerged over the alleged losses, GoldBod and the Bank of Ghana appeared to have different positions regarding responsibility for the financial obligations.
He said the BoG had attributed the debt to GoldBod, while GoldBod, in turn, had pointed fingers at the central bank.
He argued that the exact scale of the financial exposure was not immediately clear until the International Monetary Fund (IMF) raised concerns in its assessment of Ghana’s economic and financial operations.
According to Mr Acquah, the IMF identified a loss of about US$1.7 billion in 2025 associated with the gold-trading operations of GoldBod and the Bank of Ghana.
He described the figure as significant, particularly against the background of Ghana’s economic challenges and its US$3 billion IMF programme.
“If you compare $1.7 billion to our total Gross Domestic Product (GDP), it accounts for about 1.5 percent of GDP,” he argued, stressing that the issue therefore warranted serious public discussion and scrutiny.
The Akyem Oda MP also took issue with responses from GoldBod Chief Executive Officer, Sammy Gyamfi, who has rejected claims that the institution recorded the losses alleged by the Minority.
Mr Acquah criticised what he described as the tone of some of Mr Gyamfi’s public responses to critics, arguing that holders of public office must be prepared to accept scrutiny.
He said the appointment of young people to important positions in government was a positive development but warned that such appointments could undermine public confidence if officeholders responded to criticism with personal attacks.
“We were all happy when President Mahama pledged to appoint young people into key positions to create opportunities for them,” he said.
“However, that move by the President is beginning to fail simply because when issues of public interest come up and people begin to ask questions, these young people appointed to key positions turn to use vituperative words, insulting critics left, right and centre.”
Mr Acquah stressed that public offices should not be treated as personal possessions.
According to him, political appointees and public officials are temporary custodians of positions that belong to the state and must therefore be accountable to citizens.
“Don’t sit and think that the work assigned to you or the public office you are holding belongs to you. No. When it is time or government changes, you would leave there. It is for the country,” he said.
Mr Acquah further cited Kojo Oppong Nkrumah, former Deputy Finance Minister Abena Osei Asare, and Minority Leader Alexander Afenyo-Markin as individuals who, according to him, had faced criticism or attacks after raising questions about GoldBod and the reported losses.
He said the Minority’s concerns should not be interpreted as a personal attack on Mr Gyamfi.
“When the IMF report which points to the $1.7 billion losses came, my colleague Kojo Oppong Nkrumah raised the concerns and he was dehumanised with vituperative words,” he claimed.
“My sister Abena Osei Asare has also been vilified for raising similar concerns and the latest is the Minority Leader, who has been disrespected, insulted and attacked for equally raising concerns about the GoldBod losses.”
The MP said disagreements over public policy should remain focused on the substance of the issues rather than descend into personal attacks.
He argued that Parliament, particularly the Minority, has a constitutional responsibility to scrutinise government institutions and raise concerns where it believes the public interest is at stake.
Mr Acquah maintained that the Minority would continue to demand answers despite opposition from the government and officials of GoldBod.
“Parliament represents the people and so if the majority side have decided to be mute about this and the IMF report, we at the Minority side would not be quiet. We shall criticise and ask questions for the betterment and development of Ghana,” he said.
He challenged critics of the Minority to explain why the caucus should be blamed for discussing a finding attributed to the IMF.
“In any case, did the Minority conduct and produce the IMF report which says there is a loss at GoldBod in its gold trading?” he asked.
Mr Acquah said the Minority would not allow the matter to be “swept under the carpet”, particularly when former public officials had previously been subjected to investigations and accountability over decisions taken while in office.
“If former appointees are being held accountable for their stewardship, why can’t the same be done about the current government and its public office holders?” he questioned.
The MP further argued that the IMF plays an important role in Ghana’s economic management and that its assessments should not simply be dismissed when they raise uncomfortable questions.
He said the IMF routinely examines Ghana’s fiscal management and financial operations, making any concerns contained in its reports worthy of public scrutiny.
“IMF is an integral part of our economic management. They always scrutinise governments’ fiscal responsibilities and management,” he said.
Mr Acquah therefore called on public officials, particularly those responsible for state institutions, to develop the temperament required to accept criticism and respond to concerns with facts.
He maintained that accountability was not a political weapon but a necessary component of responsible public administration.
“If someone who is liable and subjected to accountability by law uses foul words and attacks the Minority Leader in Parliament, it directly affects us all as a caucus,” he said.
He added that anyone holding public office must understand that the position comes with a responsibility to the entire nation and not only to the government or political party that appointed them.
Mr Acquah also reminded Mr Gyamfi of his activities and statements while he was in opposition, arguing that he had previously been allowed to make strong criticisms of government officials without being subjected to similar personal attacks.
“What did he not say about people and former appointees when he was in opposition?” Mr Acquah asked.
“We have a series of tapes where you made unfounded allegations against people. No one attacked you or used unprintable words on you. You were allowed to walk around freely. So why are you feeling jittery now that you are in government and holding a public service?”
He insisted that the Minority’s scrutiny of GoldBod is part of its responsibility to the Ghanaian people and should not be interpreted as hostility towards the institution’s leadership.
The comments come amid an escalating debate over GoldBod’s financial performance and the interpretation of figures contained in IMF assessments, with the Minority demanding greater clarity on the extent of any losses associated with the government’s gold-trading arrangements.
The controversy has also placed renewed focus on the relationship between GoldBod and the Bank of Ghana, as well as the broader question of how public institutions should account for financial risks arising from government programmes.
While the political debate continues, Mr Acquah insists that the central issue should remain accountability, transparency and the protection of the public purse rather than personal attacks between political actors and public officials.
By 1960news.com
