AFAG calls for forensic audit of GoldBod

The Alliance for Accountable Governance (AFAG) has called for an urgent forensic audit of the Ghana Gold Board (GoldBod) to investigate alleged fiscal recklessness, questionable expenditure, and potential conflicts of interest. AFAG member Dr Samuel Kwadow Frimpong made the demand during a press conference in Accra, highlighting concerns over public-sector accountability and financial management within the State-backed institution.

The group claims that the 2025 financial disclosures of GoldBod reveal total expenditure of GH¢78,684,164.32, with several lines of spending requiring further scrutiny. These include GH¢14,294,116.30 for task force deployment, GH¢3,982,096.03 allocated to entertainment and events, GH¢3,385,495.53 spent on traveling, and GH¢5,263,872.54 under a special intervention programme.

Dr Frimpong emphasized that taxpayers' money is being used to fund the institution, making transparency and accountability crucial. He expressed particular concern over the allocation of almost GH¢9 million to legal and professional fees, citing reports of significant payments to Sustainary Attorneys, a law firm linked to the Deputy Chief Executive Officer of GoldBod.

The AFAG member questioned the nature of the legal services provided and the recipients of these funds, demanding details of the specific legal services that warrant such a hefty expenditure. Additionally, Frimpong noted that AFAG intends to release a series of public disclosures analyzing GoldBod's 2025 and 2026 audited accounts, alongside relevant International Monetary Fund (IMF) policy reports, in order to inform the public about the institution's financial state.

The group is calling for an immediate forensic audit by the Auditor-General, scrutiny by Parliament's Public Accounts Committee, and intervention from President John Dramani Mahama to halt further fiscal dissipation and demand accountability from GoldBod's leadership.