Karaga Member of Parliament and former Finance Minister, Dr Mohammed Amin Adam, has called for the removal of the Bank of Ghana (BoG) Governor, Dr Johnson Asiama, from the Board of the Ghana Gold Board (GoldBod).
Dr Amin Adam argues that the Governor’s continued membership of the GoldBod Board creates a potential conflict of interest, particularly because the Bank of Ghana is involved in financing the gold purchase programme while also being affected by its financial performance.
Speaking on the issue, the former Finance Minister questioned how the central bank could continue financing GoldBod’s gold purchases while reportedly recording losses linked to the programme.
“You cannot be lending to GoldBod when your own institution, the Bank of Ghana, is making losses from the programme being handled by GoldBod, and still be lending to it,” he said.
Dr Amin Adam therefore called for the Governor to step down from the GoldBod Board to strengthen the independence of oversight.
“Remove the Governor of the Bank of Ghana from GoldBod’s board, since his own institution funds the programme,” he demanded.
NPP raises concerns over gold programme
The former Finance Minister’s comments form part of the New Patriotic Party’s broader concerns about Ghana’s gold purchase programme.
The NPP has been demanding greater transparency following an assessment by the International Monetary Fund (IMF) which reportedly put the economic cost of the programme at about GH¢22 billion in 2025.
Dr Amin Adam said the different figures reported by the IMF, the Bank of Ghana and GoldBod should be formally reconciled to give the public a clear understanding of the programme’s financial performance.
He also renewed calls for the disclosure of the foreign buyers of Ghana’s gold, discounts granted and the commercial terms under which the gold was sold.
According to him, such information is necessary to determine whether Ghana obtained fair value from the transactions.
Calls for parliamentary inquiry
Dr Amin Adam welcomed the Bank of Ghana’s decision to stop pre-financing gold purchases from July 1, 2026, but stressed that the policy change does not eliminate the need to account for losses already incurred.
He said the NPP would continue to demand answers and support a full parliamentary inquiry into the gold purchase programme.
The former Finance Minister maintained that the issue should be treated as a matter of transparency, institutional accountability and responsible management of public funds, rather than partisan politics.
