Boako questions GoldBod’s GH¢907m profit claim over alleged GH¢1bn BoG overdraft
Tano North MP and Deputy Ranking Member on Parliament’s Finance Committee, Dr Gideon Boako, has claimed that the Ghana Gold Board (GoldBod) owes the Bank of Ghana (BoG) about GH¢1 billion in overdraft.
Dr Gideon Boako, representing Tano North in Parliament and serving as Deputy Ranking Member on the Finance Committee, has raised doubts about the reported profit of about GH¢907 million by the Ghana Gold Board (GoldBod). Dr Boako contends that this figure fails to adequately consider an alleged GH¢1 billion overdraft that the company owes to the Bank of Ghana (BoG).
He asserts that the liabilities should be included in GoldBod's financial statements to accurately evaluate its true financial standing. During an appearance on Adom TV on Monday, August 24, Dr Boako questioned how GoldBod could claim profitability when the outstanding overdraft remains unaddressed. He pointed out that if the GH¢1 billion overdraft were reflected in the company's books, it would likely be recorded as a loss.
His remarks follow a broader political and economic dispute concerning GoldBod's financial performance and the accounting treatment of transactions under the Bank of Ghana's Domestic Gold Purchase Programme (DGPP). While GoldBod has reported a profit of roughly GH¢907 million, the Minority in Parliament has been pushing for a more detailed examination of a reported GH¢22 billion loss linked to the DGPP.
Dr Boako's latest assertion joins the ongoing conversation about how the financial commitments and transactions between GoldBod and the central bank should be handled and scrutinized.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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