The Ghana Gold Board (GoldBod) has denied a claim by Dr Gideon Boako, the Tano North MP and Deputy Ranking Member on Parliament’s Finance Committee, who they owe the Bank of Ghana (BoG) an unpaid overdraft of about GH¢1 billion.
According to GoldBod, the allegations are false, accusing Dr Gideon Boako of engaging in a deliberate and malicious smear campaign.
GoldBod disclosed that the institution has never borrowed from the Bank of Ghana or any other financial institution since its establishment.
They further demanded a public apology and retraction from Dr Boako.
Parts of a statement issued by GoldBod read, “For the record, GoldBod has never at any time since its establishment taken a loan, overdraft or any debt instrument from the Bank of Ghana or any financial institution whatsoever”.
The development follows Dr Gideon Boako, who questioned GoldBod’s reported profit of about GH¢907 million.
He argued that any outstanding liability to the central bank should be reflected in the institution’s financial position.
“I’ve heard people say that GoldBod says they made a profit of GH¢907m, but that cannot be true because GoldBod took a GH¢1bn overdraft from the Bank of Ghana, and if that is reflected in their books, they’ll actually be in a loss,” he said.
The GoldBod response adds to the growing dispute over the reported losses under the domestic gold purchase programme, with the Minority and the Gold Board continuing to disagree over the financial implications of the transactions and the institutions responsible for them.
Meanwhile, Minority Leader, Alexander Afenyo-Markin, has announced that the Minority in Parliament has filed a second motion seeking the establishment of an ad hoc committee to investigate the alleged GH¢22 billion loss linked to gold trade transactions involving the GoldBod and the Bank of Ghana.
According to Afenyo-Markin, the motion also seeks to summon the Chief Executive Officer of GoldBod, Sammy Gyamfi, to appear before the committee if Parliament approves the request.
The Minority leader disclosed that the motion was filed and signed by several of its MPs, including Kojo Oppong Nkrumah, Tweneboah Koduah, Jerry Shaib Ahmed, Vincent Asafuah, Dr Kyei Asamoah and the Minority’s Ranking Member on the Finance Committee, Dr Mohammed Amin Adam.
Speaking on Good Evening Ghana on August 20, 2026, the Minority Leader stated, “We have filed the necessary processes. We don’t just blow hot air. My colleagues have filed the motion. We have today at 12 noon filed a motion signed by respected Kojo Oppong Nkrumah, Tweneboah Koduah, Jerry Shaib Ahmed, Vincent Asafuah, Dr Kyei Asamoah, and our ranking on finance, Dr Mohamed Amin Adam”.
“We have filed and put forward our argument. All the documents are tied there too for Speaker, who has the power of admissibility to determine admissibility,” he said.
“This is not different from the earlier one that we filed, and same was voted on. First of all, they delayed the motion for a long time. Each time we’re going to take the motion, they will say they were not prepared. Eventually, after taking the motion, they whipped their numbers to vote against it.
“Since the chief executive has offered to come, I believe his party has heard him. We pray that the 189 majority will not stampede us,” he added.
He further called for the proceedings to be broadcast live due to the public interest and the size of the alleged loss.
“Gold Board must bring all its books. I mean, because they said they are ready. BOG must come. We would invite those we have to invite and have a live coverage because 22 billion is huge sum,” he indicated.
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