Dr Johnson Asiama, the Governor of the Bank of Ghana (BoG), has invited the Vice President of IMANI Africa, Kofi Bentil, to come and visit the Central Bank over his concerns surrounding Ghana’s gold transactions.
The BoG dismissed allegations being made by Kofi Bentil that the Bank’s sale of gold had resulted in financial losses.
Dr Asiama explained that a profit of $1.3 billion was made from the transaction, as there were no losses.
He argued that the institution operates transparently and remains open to scrutiny.
According to the BoG Governor, Kofi Bentil, he must stop the wild allegations and visit the Central Bank to see the books on Ghana’s 18 tonnes of gold.
Speaking at the 129th Monetary Policy Committee (MPC) press conference in Accra on Wednesday, March 18, 2026, Dr Asiama explained, ” These things you have to put them into proper context, it is not that literal, as I said today, Gold prices are at $4,800, it went up to $5300. What that tells you is that it is very volatile, there is no guarantee that it will stay at $5300 forever”.
A decision was taken last year to diversify. At the time, there was no indication that the Venezuela crisis was going to escalate, or that the Iran crisis was going to escalate at the time. Every thought price has peaked, it was around $4200. In taken those decisions, the appropriate channels were used, and there were no breaches.
The BoG boss added, “A lot of the things we hear out there are just things we don’t even want to respond to; we have all the information. I was in parliament last week to answer all those questions. Mr Kofi Bentil ask him to come to us anytime.
Those things being said outside there, I don’t know what they want to achieve. Kofi Bentil should pay us a visit; he should stop those wild allegations. We are ready to answer him; he should just make a call and come,” he said.
“I’m ready to open the books; he should come, and I will explain to him,” Dr Asiama added.
Also, Kofi Bentil, the Vice President of IMANI Africa, has alleged that 18 tonnes of gold were sold in a space of a month. His information reveals that Ghana have to buy back those 18 tonnes of gold for a price of above a billion dollars.
Speaking on Accra-based TV3, Kofi Bentil stated, “These 18 tonnes of gold that somebody has sold, in a space of about a month, we are being told we have to go and buy back that 18 tonnes of gold for a price of above a billion dollars. Someone made a wild decision that has cost this country over one billion dollars.
“There is no sensible government anywhere in the world where someone costs a poor country a billion dollars, and the person sits in their office.
“When it comes to policy making, there is aprior, contemporaneous, and post facto. You don’t know what you are going to say, because you are thinking personally, so you try something, and you get to a point where you are seeing better because you are in it. We expect you to do better.
“We have a situation where one day we woke up and said he has sold 18 tonnes of gold, and then the next day someone has come up with Ghana Accelerated National Reserve Accumulation Policy (GANRAP) (2026–2028), we are going to buy back the gold, and the cost difference is over 1 billion dollars in a poor country.”
He added, “There is a theory that maybe they didn’t sell the gold because some of these things are paper transactions. I don’t subscribe to that theory, but if it is true that they didn’t sell the gold, then somebody is doing a deal to get one billion dollars. We need some serious accounting for this. This is the job for the opposition.
“We can’t wake up and lose a billion dollars, roll over and make things business as usual. What was the view of the president? Whose idea was it? Who processed it? What is going to happen to those people or that person who made the decision that is going to cost us over one billion dollars? If somebody made that decision or a group of people, it is called a catastrophic failure. The person is either catastrophically incompetent or something else is driving that kind of decision, but here is the point.”
Also, Dr Mohammed Amin Adam, the former Finance Minister, has alleged that the Bank of Ghana (BoG) sold Ghana’s gold reserves to cover 2025 losses.
According to Amin Adam, he does not understand the rationale behind the government selling half of the national gold reserves, as it defeats the purpose of accumulating the reserves.
Dr Amin Adam explained how the Bank will report its 2025 losses vis-à-vis the gains from the sale of gold reserves, questioning how sustainable this practice is, where operational losses can easily be offset by the sale of our gold reserves.
The former Finance Minister demanded that the Bank of Ghana come clear on the sale of 50 per cent of Ghana’s gold reserves in 2025.
Watch the video below:
📢 “Stop the wild allegations!” — BoG Governor invites Kofi Bentil to see the books on Ghana’s 18 tonnes of gold. pic.twitter.com/XZdjgXOEyp
— Governor Asiama Updates (@GovAsiamaUpdate) March 19, 2026