The Central Regional branch of the New Patriotic Party (NPP) has declared its full support for Mr. Alexander Afenyo-Markin, the Member of Parliament for Effutu, in his call for a parliamentary probe into alleged GHS 22 billion losses linked to GoldBod gold trading. This significant endorsement amplifies pressure for transparency regarding a substantial sum of public money.
Mr. Afenyo-Markin, who serves as the Minority Leader, initiated his demand for an investigation on August 18, 2026. He insisted that the government must account for the reported GHS 22 billion, which is approximately $1.7 billion. The regional party views this investigation as crucial for restoring accountability and protecting public interest.
This development unfolds amidst broader concerns about the management of Ghana's public finances and state-backed economic programmes. The alleged losses, if confirmed, represent a substantial drain on national resources, impacting potential investments in critical sectors. This situation highlights ongoing debates about fiscal discipline and the oversight of state-owned enterprises and government initiatives.
Mr. Richard Tekyi Mensah, the NPP Regional Secretary, stated at a press conference that the party in the region believes truth must be defended. He emphasized that public resources must be accounted for thoroughly. Mr. Mensah reiterated the region’s confidence in Mr. Afenyo-Markin’s commitment to transparency and impartial scrutiny.
The Regional Secretary urged state agencies to act swiftly and professionally to examine the allegations. He called for the findings to be made public to reassure Ghanaians about the use of their taxes. Mr. Mensah highlighted that the GHS 22 billion represents lost opportunities for jobs, hospitals, roads, and schools across the country.
Several professionals have also expressed reservations about the Bank of Ghana’s Domestic Gold Purchase Programme. Professor Godfred Alufar Bokpin publicly pointed out the programme's losses and described parts of it as having significant design defects. Dr. Bokpin warned that the economic cost could exceed the $1.7 billion figure.
Dr. Adu Owusu Sarkodie, a Senior Lecturer at the University of Ghana, suggested that the financial burden of the programme should be shared. He believes both the Bank of Ghana and GoldBod should bear responsibility. These expert opinions underscore the complexity and potential financial implications of the issue.
Mr. Tekyi Mensah acknowledged GoldBod’s position that its audited accounts do not show a GHS 22 billion loss. GoldBod reportedly recorded a substantial surplus. The Institute for Fiscal Policy Governance also indicated GoldBod did not record a GHS 22 billion loss, pointing to a reported GHS 5.44 billion surplus.
However, Mr. Mensah clarified that a corporate entity can report a surplus while a wider government programme it participates in generates losses elsewhere. He demanded that GoldBod explain the entire financial architecture of the Domestic Gold Purchase Programme to Ghanaians. This explanation is vital for a complete understanding of the situation.
The implications of this probe are significant for public trust and financial governance in Ghana. A thorough investigation could lead to reforms in how large-scale government programmes are managed and audited. Decision-makers will closely watch the response from state agencies and GoldBod as the call for accountability intensifies.
The outcome will also influence public perception of the government's commitment to fighting corruption and ensuring fiscal responsibility. Markets and investors will monitor the situation for any signs of instability or improved transparency. This ongoing scrutiny is crucial for Ghana's economic reputation.