GoldBod recorded GH¢5.44bn surplus, not GH¢22bn loss – Institute of Fiscal Policy Governance

The Institute of Fiscal Policy Governance (IFPG) has refuted the Minority's claim that the Ghana Gold Board (GoldBod) incurred a GH¢22 billion loss in 2025. In a statement released on August 18, 2026, the IFPG stated that GoldBod's audited financial records show a surplus of GH¢5.44 billion for the year ending December 31, 2025.

This information contradicts the Minority Caucus' claims made during a press conference, where they expressed concerns over the financial performance of GoldBod and the losses attributed to the Domestic Gold Purchase Programme. The IFPG clarified that the audited financial statements of GoldBod reveal total revenue of approximately GH¢5.55 billion against expenditures of roughly GH¢109.6 million, resulting in the reported surplus after accounting for exceptional items.

The Institute stressed that the claims of a GH¢22 billion loss seem to stem from a mix-up between GoldBod's accounts and the financial activities of the Bank of Ghana's Domestic Gold Purchase Programme, two separate entities with distinct roles and financial responsibilities. The IFPG also urged the Minority to present audited evidence supporting their assertion, such as an audited loss schedule, transaction records connected to the alleged loss, and any findings from the Auditor-General.

If such evidence exists, it should be submitted through the proper constitutional and legal channels. The IFPG also addressed the GH¢4.547 billion government grant included in GoldBod's 2025 revenue, asserting that it was a government allocation specified in the 2025 national budget and subsequently incorporated into the Appropriation Act, 2025.

Consequently, the Institute contended that this grant should not be interpreted as evidence of a trading loss by GoldBod. The IFPG remains supportive of parliamentary oversight and proper scrutiny of GoldBod's activities but cautioned against the distortion of accounting information by political debates. The Institute called on the Minority to either provide audited evidence of the alleged GH¢22 billion loss or refrain from presenting the Bank of Ghana's Domestic Gold Purchase Programme costs as losses incurred by GoldBod.