GOLDBOD SCANDAL ROCKS GHANA: MINORITY DEMANDS ACCOUNTABILITY OVER $214M LOSS
The Minority Leader in Parliament, Alexander Afenyo-Markin, has raised serious concerns over a reported $214 million financial loss involving the Ghana Gold Board (GoldBoD), warning that the situation represents a major loss to the state and demanding urgent action from the Bank of Ghana (BoG).
Addressing a press conference on Monday, January 26, Mr. Afenyo-Markin cited an International Monetary Fund (IMF) report published in September 2025, which flagged the significant losses associated with GoldBoD’s operations.
According to him, there appears to be confusion over accountability between the Bank of Ghana and GoldBoD. He stressed that the central bank cannot be involved in financial transactions, benefit from them, and later shift responsibility when problems arise. “We want to tell the central bank: participating in the activities, being part of the feast, and when there are issues, you run away and put the blame squarely at the feet of GoldBoD will not wash,” he stated.
The Minority Leader explained that the IMF report attributes the losses to the Bank of Ghana’s failure to adequately safeguard public funds. He questioned the rationale behind the central bank advancing funds to GoldBoD for gold purchases, only for the state to suffer losses due to exchange rate fluctuations.
Mr. Afenyo-Markin also expressed concern over the payment of certain fees by the Bank of Ghana, arguing that the bank is not legally required to make such payments. He emphasized that Ghana urgently needs funds to construct roads, schools, and hospitals, and cannot afford such losses.
Touching on employment, the Minority Leader criticized the NDC government’s campaign promise of “one job, three shifts,” which suggested that each job would employ three people and allow citizens to engage in other economic activities, such as farming or trading, during off hours.
He argued that contrary to these promises, many Ghanaians who gained employment as far back as 2017 were later dismissed after the NDC returned to power.
He further alleged that when the Minority introduced a motion to question the directive behind the mass dismissals, the Majority frustrated the process by raising preliminary objections. According to him, the First Deputy Speaker delivered a ruling that appeared to have been prepared even before hearing arguments.
Mr. Afenyo-Markin added that efforts to seek a review of the matter were also blocked, as the Speaker allegedly denied the Minority an opportunity to be heard through a voice vote. He described the situation as troubling, noting that eight months have passed without debate on an issue that directly affects the livelihoods of many Ghanaians.
He revealed that Parliament is expected to reconvene on February 3, 2026, yet the matter remains unresolved.
Despite these challenges, the Minority Leader assured affected workers that his side of Parliament will continue to fight for them.
“We will not relent. We will continue to fight for Ghanaians who have been rendered unemployed until their jobs are restored,” he pledged.
Report byPKB
