Janet Nabla, chairperson of the People’s National Party, has called for the dissolution of the Ghana Gold Board (Gold Bod) and a probe into the Chief Executive Officer, Sammy Gyamfi, and the Bank of Ghana Governor.
She wants the two referred to the Office of the Special Prosecutor (OSP) following reports of a $214 million loss linked to the Bank of Ghana’s Gold-for-Reserves program.
In her view, the reported loss is a serious threat to Ghana’s economy that raises fundamental questions about judgment, accountability, and financial prudence.
Madam Nabla posited that the two have been inconsistent in their narratives on the matter and must be investigated.
Speaking on Frontline on Rainbow Radio 87.5FM, while international gold prices stood at about $4,054, Gold Bod reportedly sold at around $3,919—a practice the PNP described as commercially indefensible. There have been contradictions in public statements made by the Gold Board and the Bank of Ghana. We have also witnessed the highest form of incompetence. Why should the Gold Board operate without clearly accounting for off-taker fees and transaction costs? Those in charge failed to factor costs into pricing decisions. This is purely mismanagement.
That is why we have called for the dissolution of the Gold Board. There should be accountability, and that is why I am reiterating that the Gold Board CEO and Governor of the Bank of Ghana be referred to the Office of the Special Prosecutor to explain why gold was sold at a loss, why the losses were allowed to persist, and why corrective action was not taken sooner.”
By: Rainbowradioonline.com/Ghana
