We demand removal of BoG Governor from GoldBod’s board – Amin Adam

Former Finance Minister and Karaga Member of Parliament, Dr Mohammed Amin Adam, has demanded the removal of the Governor of the Bank of Ghana from the Board of the Ghana Gold Board (GoldBod). Adam argued that such arrangement creates a conflict of interest, as the Bank of Ghana is both a financier of the gold purchase programme and an institution affected by its financial performance.

He stated that the Bank of Ghana cannot continue providing funding to GoldBod while simultaneously suffering losses from the programme it is handling. Adam emphasized that the Governor's presence on the board raises questions about the independence of oversight. He called for the Bank of Ghana to withdraw its Governor from GoldBod's board, given that its own institution is financing the programme.

Adam also demanded that the IMF's figures, those of the Bank of Ghana, and GoldBod be reconciled to provide Ghanaians with a clear understanding of the programme's financial performance. The former Minister further urged for the disclosure of foreign buyers' identities, the discounts they received, and the commercial terms under which Ghana's gold was sold.

While welcoming the Bank of Ghana's decision to stop pre-financing gold purchases from July 1, 2026, Adam insisted that the past losses must be accounted for. He affirmed that the NPP would persist in demanding answers and supporting a full parliamentary inquiry into the gold purchase programme, highlighting the issue as one of transparency and accountability in the management of public funds.