Ghana Districts: A repository of all Local Assemblies in Ghana

Feature Content
Feature Content

ECONOMICS

Majority blasts Minority: Goldbod's $214million figure is a cost, not debt

The Majority has refuted the claim by the Minority that Goldbod has incurred $214million loss.

Date Created : 12/29/2025 : Story Author : Dominic Shirimori / Ghanadistricts.com

Chairman of the Economic and Development Committee Eric Afful reacting to the Minority's presser in which they called for a bipartisan probe into the $214 million 'loss' said the Minority was jumping the gun as they are in a hurry to find fault with the government particularly the Goldbod.

“the Minority, particularly the Ranking Member is jumping the gun by declaring Goldbod is indebted even before it has rendered accounts to parliament, Eric Afful stated.

He asserted that the $214 million currently remains cost of operation and until the Goldbod presents their financial statement somewhere in March 2026; that is the only period the details of that amount can be ascertained.

“Goldbod is yet to present its full account, and by the close of March next year, it will render a proper account to parliament and the Ghanaian people”.

Again on the subject of losses, Mr Afful opined that the Minority has no moral right to talk about losses because their record in similar programmes in the past, including ‘Gold for Oil’, and ‘Gold for Reserve’ was nothing to write home about, affirming that the two programme incurred losses as follows;

2023 AUDITED LOSSES

* Gold for Oil - GHS1.18Billion (gold component)

* Gold for Reserve - GHS973Million

Total losses - GHS2.15 billion.

2024 AUDITED LOSSES

* Gold for Oil - GHS667.79 Million (gold component)

* Gold for Reserve - GHS4.18Billion

Total losses - GHS4.84Billion

The Amenfi West Member of Parliament reminded the Minority that the Goldbod and Gold for Reserve under the current government has a mandate to ensure the stability of the Cedi as well as stabilize prices which without doubt have been achieved; noting that the NPP during their reign despite similar programmes left the country in a very bad state with the cedis hovering around GHS17.00 to the dollar, and inflation around 23% before leaving office.

This, he said is the achievement the Minority is not comfortable with, and they are raising this to render the economic gains of the NDC government useless. “it is a serious propaganda and it must stop”, he added.

He urged the Majority to consider the bigger picture, that is the benefits of these programmes to the economy since this government took over and exercise restraints on their demands, because the Bank of Ghana and the Goldbod are all required under the law to render account which they cannot do without; and when that time comes everything would be laid bare.