MP to Summon Finance Minister, Central Bank Governor Over GoldBod's Funding. 

The Member of Parliament for Okaikwei Central, Mr Patrick Yaw Boamah has raised concerns regarding  Ghana Goldbod's compliance with the law, particularly with regards to transparency and accountability. 

Speaking to the media, Mr Boamah questioned how the Goldbod is being funded, given the ministry of finance response that no allocation has been made to the board. 

He called for investigations and accountability, and plans to summon the Minister of finance and the Central Bank Governor to answer questions about these issues. 

According to him, Goldbod is not publishing quarterly reports on its operations, revenue, contracts , expenditure and responsible sourcing and traceability  as required by law. 

He cited concerns about responsible mining practices and the fight against illegal mining (Galamsey). 

The legislature is concerned about the potential implications for Ghana's reputation and the country's  fight against illegal mining. 

He spoke about Ghana's Goldbod 's licensing process and the number of companies licensed. 

He revealed that, Goldbod has licensed 420 companies as tier 2 buyers, 21 self financing aggregators and 1 sole aggregators. 

He questioned the due diligence process undertaken by the Goldbod to license these companies, given the short time frame since its inception. 

He again raised concerns about the fees charged by the Goldbod and whether they were properly approved under the fees and charges Act. 

Mr Boamah emphasized the importance of ensuring that, licensed companies adhere to responsible mining practices and traceability standards.

Report by PKB