The Minority in Parliament is demanding the formation of an ad hoc committee to probe the Domestic Gold Purchase Programme (DGPP) and the US$1.7 billion loss reported by the Bank of Ghana (BoG) in 2025.
The MP for Manso Nkwanta, Tweneboah Kodua Fokuo, said the committee would conduct a full audit of the gold value chain, including mining, aggregation, purchases, fees, offtake discounts and risk controls.
Speaking to on Eyewitness News on Wednesday, August 19, Mr Fokuo said the inquiry will pinpoint weaknesses in how Ghana’s gold resources are managed and suggest steps to stop future losses.
“We are going to take our time to go through the entire supply chain,” he said.
He noted that the committee must pull members from different parliamentary committees because the issue cuts across multiple sectors such as land degradation, the economy and public finance.
He argued that a single committee would not be enough to review the matter thoroughly, and that the Minority plans to tap expertise from committees handling lands, economic development, finance and public accounts.
“We can’t let this continue. Imagine one year, $1.7 billion. If you let this continue, where would we end?” he asked.
The demand follows disagreement over how to interpret an International Monetary Fund (IMF) report, which indicated that the Bank of Ghana recorded US$1.7 billion in losses under the Domestic Gold Purchase Programme in 2025.
The GoldBod Chief Executive Officer Sammy Gyamfi has rejected claims that the IMF pinned the losses directly on GoldBod, maintaining that the report did not blame the institution for the Bank of Ghana’s losses.
