Effutu Member of Parliament and Minority Leader, Alexander Afenyo-Markin, has called on Parliament to urgently investigate allegations surrounding a reported $1.7 billion loss linked to the domestic gold purchase scheme involving the Bank of Ghana and GoldBod.
Speaking during his opening address at the emergency parliamentary sitting today, Monday, 24 August 2026, the Effutu lawmaker stressed that although the emergency session was summoned to handle specific legislative matters, the legislature must not turn a blind eye to disclosures that have unsettled the nation over the past month.
“This House was recalled. This House has been recalled to consider urgent business. That urgent business is not on its face the matter I am about to raise. But Mr. Speaker, no order paper drawn up before today could have anticipated the shock that met Ghanaians this month,” Afenyo-Markin said.
“That the government that they elected to reset the governance of this country has under the watch of Gold Board and Bank of Ghana lost 1.7 billion US dollars. At today’s exchange rates that is 22 billion cedis. Gone. From a program that was meant to protect our gold, strengthen our cedi, and support our economy,” he stated.
To support his stance, the Minority Leader referenced an International Monetary Fund (IMF) document dated 17 December 2025.
Quoting from page 3, paragraph 56 of the cited report, Afenyo-Markin noted:
“Losses from the domestic gold purchase program and GoldBod’s activities should not be borne by the Central Bank and transparently brought on budget. Further, the BOG should develop a clear and time-bound strategy for scaling down gold purchases.”
The Minority Leader maintained that the House cannot sidestep the issue throughout the ongoing emergency proceedings.
“Mr. Speaker, we hold a firm view that this House cannot convene this week and be silent on that figure. It must become part of our deliberations so that the people of Ghana know that those in charge of implementation of policy must account to the people of Ghana,” Afenyo-Markin added.
By: Rainbowradioonline.com/Ghana
