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

Former Finance Minister Dr Mohammed Amin Adam has challenged GoldBod’s reported GH¢5.45 billion surplus for 2025, stating that the figure does not accurately reflect the institution’s true trading performance. According to Dr Amin Adam, a significant portion of the reported surplus was actually a government capital injection credited to GoldBod’s accounts just before the end of the financial year.

Speaking at a press conference, Dr Amin Adam urged that this amount should not be counted as revenue, but rather as capital, as per standard accounting rules. He questioned the credibility of GoldBod's reported surplus, arguing that the government's contribution should not be used to portray the institution as making substantial profits.

Of the remaining GH¢909.9 million, approximately GH¢827 million came from service charges paid by the Bank of Ghana (BoG) for gold purchase operations. Dr Amin Adam pointed out that most of GoldBod’s real income was actually a commission charged on a programme that had resulted in a loss of GH¢22 billion for the country. He also raised concerns about GoldBod’s ability to record a surplus while the institution funding its gold buying operations reported substantial losses.

Dr Amin Adam is calling for a restatement of GoldBod’s 2025 financial statements to reflect these discrepancies.