Minority Leader Alexander Afenyo-Markin has warned that the operations of the Ghana Gold Board (GoldBod) could trigger a major scandal, urging its management to exercise caution in the discharge of its mandate.
The Effutu MP said there were aspects of GoldBod’s operations that were not publicly known and cautioned its managers against becoming complacent over the institution’s current position.
“GoldBod is a very big scandal awaiting us. There are things we know that they don’t know. They should be careful,” Mr Afenyo-Markin warned.
His comments follow revelations in a recent International Monetary Fund (IMF) report concerning losses incurred under the Bank of Ghana’s Domestic Gold Purchase Programme, which is implemented through GoldBod.
The IMF Country Report No. 26/213 indicates that losses recorded under the programme in 2025 were significantly higher than the previously reported US$214 million.
According to the report, the substantial expansion of the programme during 2025 resulted in losses exceeding US$1.7 billion, representing about 1.5% of Ghana’s Gross Domestic Product (GDP).