GH¢22bn loss is a deliberate profiteering scheme – Gideon Boako
Tano North MP and Deputy Ranking Member on Parliament’s Finance Committee, Dr Gideon Boako, has described the reported GH¢22 billion loss associated with the Domestic Gold Purchase Programme (DGPP) as a deliberate profiteering scheme. The reported loss, equivalent to about US$1.7 billion, has triggered intense debate over the management of Ghana’s gold purchasing operations and […]
Ghana Gold Board (GoldBod) owes the Bank of Ghana (BoG) approximately GH¢1 billion in overdraft, according to Tano North MP and Deputy Ranking Member on Parliament’s Finance Committee, Dr Gideon Boako. He asserts that this outstanding liability should be considered when evaluating GoldBod's reported financial performance. Dr Boako expressed these concerns during an interview on Adom TV on Monday, August 24.
Despite GoldBod reporting a profit of around GH¢907 million, the MP disputes this figure, stating that the institution's books show a reflection of the GH¢1 billion overdraft from the central bank, placing GoldBod in a loss position. This issue is part of a larger political and economic discourse surrounding GoldBod's financial standing and the accounting treatment of the Domestic Gold Purchase Programme (DGPP).
While the opposition has been advocating for greater transparency regarding the programme's reported losses, GoldBod maintains that its financial performance should be separated from the losses on the Bank of Ghana's balance sheet.
Written by urgent.news from Adom Online's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
