started · updated
Ghana Parliament faces pressure over $1.7bn GoldBod loss
Ghana's Parliament is facing intense pressure over a reported $1.7 billion loss linked to the Domestic Gold Purchase Programme (DGPP), involving the Ghana Gold Board (GoldBod) and the Bank of Ghana. The Minority caucus has filed a motion for a parliamentary inquiry, citing an International Monetary Fund (IMF) report that attributes the losses to service fees, gold discounts, and exchange rate discrepancies.
Speaker Alban Bagbin has indicated his intention to admit the Minority's motion to investigate the matter, noting that a parliamentary inquiry could help resolve ongoing litigation. However, he ruled that the motion cannot be debated during the current emergency parliamentary sitting, which was specifically recalled by President John Dramani Mahama to address three other items of business.
Political and civil society leaders have reacted sharply to the news. Minority Leader Alexander Afenyo-Markin emphasized the need for accountability for the loss, which is estimated to be equivalent to 22 billion Ghanaian cedis. Meanwhile, the People’s Alliance for Governance and Accountability (PAGA) argued that national interest objectives, such as strengthening the cedi or building gold reserves, do not excuse financial indiscipline.
Entities
Alban Bagbin · Alexander Afenyo-Markin · Bank of Ghana · Ghana · Ghana Gold Board · Godfred Alufar Bokpin · GoldBod · International Monetary Fund · Ministry of Finance · University of Ghana
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The reported losses are actually costs incurred to stabilize the cedi and strengthen the economy. thevoicenewsmagazine.com
- [● 2 SOURCES] The motion cannot be debated during the current emergency parliamentary sitting. chale.news · www.adomonline.com
- [● 2 SOURCES] Speaker Alban Bagbin intends to admit the Minority's motion regarding the GoldBod investigation. chale.news · www.adomonline.com
- [○ 1 SOURCE] The Minority intends to prosecute the matter regarding the reported $1.7 billion loss. kessbenonline.com
- [● 2 SOURCES] The scale-up of the Domestic Gold Purchase Programme in 2025 resulted in losses exceeding $1.7 billion. kessbenonline.com · rainbowradioonline.com
- [○ 1 SOURCE] PAGA argues that national interest objectives do not excuse the reported $1.7 billion loss. www.myjoyonline.com
- [● 3 SOURCES] The Minority submitted a motion to establish an ad hoc committee to investigate the GoldBod losses. theghanareport.com · chale.news · www.adomonline.com
- [● 2 SOURCES] Incoming Majority Leader James Agalga supports an early parliamentary inquiry into GoldBod operations. www.adomonline.com · ghanaguardian.com
- [○ 1 SOURCE] The reported $1.7 billion loss is equivalent to approximately 22 billion Ghanaian cedis. rainbowradioonline.com