AFAG Demands Forensic Audit Of GoldBod
The Alliance for Accountable Governance (AFAG) has called for a forensic audit of the Ghana Gold Board (GoldBod) over what it suspects to be fiscal recklessness, opaque expenditure and potential conflict-of-interest concerns. Speaking at a news conference in Accra yesterday, a leading member of AFAG, Dr Samuel Kwadwo Frimpong, said the state-backed gold-buying institution’s 2025 […] The post AFAG…
The Alliance for Accountable Governance (AFAG) has urged for a forensic audit of the Ghana Gold Board (GoldBod) due to suspected fiscal mismanagement, opaque spending, and potential conflict-of-interest issues. Dr Samuel Kwadwo Frimpong, a prominent member of AFAG, unveiled the organization's concerns regarding the 2025 audited accounts of GoldBod.
The state-backed institution reportedly spent a total of GH¢78.68 million in 2025, with expenditures exceeding five figures for several categories. Dr Frimpong expressed doubt about the financial rationale behind specific items, questioning whether they represented good value for money.
The group was especially concerned about the GH¢8.58 million allocated to legal and professional fees, which they believe may have been paid to a law firm connected to the top management of GoldBod. Despite GoldBod's denial of these allegations, Frimpong demanded further investigation into the expenditures and inquired about the adequacy of GoldBod's legal department and the necessity of spending such a significant sum on external legal services.
He also requested detailed information on the particular legal services covered by the GH¢8.58 million and the identities of the law firms or individuals who received these payments.
AFAG pledged to conduct a comprehensive analysis of GoldBod’s 2025 and 2026 audited accounts, along with relevant International Monetary Fund (IMF) policy reports, in order to inform the public about the institution's financial condition and operations. The group also implored the Auditor-General and Parliament's Public Accounts Committee (PAC) to conduct an urgent forensic audit on the expenditure items flagged by AFAG, and urged President John Dramani Mahama to intervene in order to prevent further fiscal waste and demand accountability from GoldBod's leadership.
Written by urgent.news from The Chronicle Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
