The Minority Leader in Parliament, Alexander Afenyo-Markin, has hit back at the Chief Executive Officer of the Ghana Gold Board (GoldBod) following the government’s response to concerns raised over GH₵22 billion in reported losses under the Domestic Gold Purchase Programme (DGPP).
The Minority Leader in a statement issued on Wednesday August 19, 2026, stated that the GoldBod’s official response at the Government Accountability Series failed to disprove the financial infractions cited in the IMF Sixth Country Report.
According to Mr Afenyo-Markin, the GoldBod head effectively conceded to the operational shortfall highlighted by international monitors.
“First, the loss is admitted. The Chief Executive does not dispute the IMF’s finding that there is a loss of US$1.7 billion (22 billion Ghana cedis) under the Domestic Gold Purchase Programme in 2025. He disputes only who should be blamed. This is public money, whichever State balance sheet it sits on,” he stated.
The Minority Leader further questioned the operational surplus reported by the GoldBod, arguing that the figures were artificially sustained by agency fees levied on the state rather than true performance gains.
“The Chief Executive tells us the GoldBod accounted for about GHS133 billion in advances in 2025, and that it was paid an assay fee of 0.258 per cent and a service fee of 0.5 per cent. On those figures, the GoldBod earned in the region of GHS1 billion in fees from this programme,” Mr Afenyo-Markin noted.
He added: “The plain implication of his own numbers is that the operational surplus he is celebrating is smaller than the fee income he collected from a programme that lost the state 22 billion Ghana Cedis. Strip out the agency fees and there is no operational surplus to speak of.”
The Caucus also raised concerns over shifting financing structures for the GoldBod’s operations, pointing out that responsibility for the GANRAP implementation cost moved from the Bank of Ghana to the Ministry of Finance in July 2026, before the agency sought independent fundraising options in August.
“Three funding arrangements in six months is not a settled model. We view this with curious eyes,” the statement read.
Concluding the response, Mr Afenyo-Markin criticized the tone of the Chief Executive’s remarks during the public address, calling for professional accountability regarding state funds.
“The Chief Executive’s reference to a brothel does not belong in a statement issued by a Public Officer accounting for public funds. Ghanaians asked for figures. They were given insults. The figures are still outstanding,” he added.
By: Rainbowradioonline.com/Ghana
