Amin Adam Challenges GoldBod’s 2025, GH¢5.45bn Surplus

Former Finance Minister and Member of Parliament, Dr Mohammed Amin Adam, has disputed GoldBod's reported GH¢5.45 billion surplus for the year 2025. He asserts that the figure is misleading as it does not accurately reflect the trading performance of the institution. According to Dr Amin Adam, the bulk of the surplus, approximately GH¢4.54 billion or 81.7%, was a government capital injection credited to GoldBod's accounts on December 30, 2025, just one day before the financial year ended.

Speaking at a press conference on Tuesday, September 1, Dr Amin Adam argued that this amount, which GoldBod labeled as revolving trade capital, should not be considered revenue. He cited standard accounting rules that treat money contributed by an owner as capital, not revenue, and pointed out that GoldBod itself describes this as revolving trade capital.

Dr Amin Adam questioned the legitimacy of GoldBod's reported surplus, emphasizing that the government injection should not be used to portray the institution as generating substantial profits from its operations. He noted that only around GH¢909.9 million, or about 16.7% of the surplus, constituted fee income, primarily consisting of service charges paid to GoldBod by the Bank of Ghana (BoG) related to gold purchase operations.

Dr Amin Adam contended that most of GoldBod's actual income was a commission earned from a program that resulted in a GH¢22 billion loss for the country. He also raised doubts about how GoldBod could record a surplus while the institution providing the funds for its gold purchasing operations reported significant losses. "How can a gold buying operator record a surplus while the institution whose funds it uses records a loss?"

Dr Amin Adam queried. Dr Amin Adam is urging for GoldBod's 2025 financial statements to be revised, excluding the GH¢4.54 billion capital injection and presenting a more accurate picture of the institution's financial performance.