Minority caucus to file motion for parliamentary scrutiny into GoldBod losses

The Minority Caucus in Ghana's Parliament has prepared a motion seeking a comprehensive parliamentary examination into the financial losses associated with the Domestic Gold Purchase Programme (GoldBod). The Minority Leader, Osahen Alexander Afenyo-Markin, disclosed this, noting concerns over a reported loss of approximately GH¢22 billion (US$1.7 billion).

The motion will be filed before Parliament's resumption following its recall. The Minority Caucus expects the Majority Caucus to cooperate and ensure the matter receives the necessary scrutiny. They argue that the issue involves significant public resources and that Parliament has a constitutional responsibility to examine how public funds are used and demand explanations for significant financial losses.

The Minority Caucus wants Parliament to establish the circumstances leading to the reported losses, the institutions involved, decision-making processes, and the safeguards applied. They also seek to examine the relationship between GoldBod and the Bank of Ghana and determine if the programme's structure appropriately analyzed and located risks.

The Minority Leader, Afenyo-Markin, rejected attempts to personalise their concerns, stating that the Caucus is acting on information from the IMF's assessment. He emphasized that the scale of the reported losses could have been used to address critical national needs, including healthcare, education, roads, and infrastructure. The Minority Caucus will pursue the matter when Parliament resumes and expects the government and relevant institutions to provide the necessary information.