APL demands forensic probe into GoldBod following $1.7billion gold-trading losses

The Africa Policy Lens (APL) has called for a forensic investigation into the Ghana Gold Board (GOLDBOD) following the revelation that Ghana lost over $1.7 billion in gold trading under the Domestic Gold Purchase Programme (DGPP). APL highlights that GOLDBOD's role in sourcing and off-take makes it a crucial element in any probe, as it was responsible for sourcing operations in 2025.

The IMF identified three main factors leading to the loss: service and assay fees, discounts granted to off-takers/exporters, and forex spreads. APL argues that the issue is not just about which institution recorded the loss but also about the concentrated powers and potential risks associated with GOLDBOD's model. In response to the loss, APL has made four demands, including a comprehensive review of GOLDBOD's purchasing and pricing model, independent oversight mechanisms, publication of off-taker agreements, and a review of GOLDBOD's dual role in the gold-trading architecture.

Brief written by urgent.news from MyJoyOnline Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.