The Minority in Parliament is piling pressure on the government to open a full-scale parliamentary investigation into the operations of GoldBod and the Bank of Ghana’s Domestic Gold Purchasing Programme (DGPP).
The minority caucus is making these demands amid growing concerns over transparency, accountability, and environmental damage purported to be associated with the programme.
Addressing the media following the alleged $214 Million BoG loss under the programme, the Minority insisted that issues surrounding Ghana’s gold purchases have moved beyond technical debates and now touch the heart of public trust, national wealth, and institutional integrity.
According to them, the country cannot afford silence while serious questions hang over how gold is bought, priced, aggregated, and converted into foreign exchange.
At the center of their demands is the immediate establishment of a Parliamentary ad-hoc investigative committee with sweeping powers. The Minority insists the committee must be empowered to subpoena contracts, licences, and all intermediaries involved in the scheme, including what they describe as the controversial Bawa-Rock monopoly.
They argue that without an independent parliamentary probe, Ghanaians will never know who benefits from the current structure of the gold trade, how fees are calculated, or whether the nation is getting full value for its gold.
“In the name of the Ghanaian people, we hereby demand a Parliamentary Ad-hoc Investigative Committee with the power to subpoena all contracts, licences, intermediaries, including the Bawa-Rock monopoly,” the Ranking Member on the Economy and Development Committee, Kojo Oppong Nkrumah, demanded.
Beyond investigations, the Minority is calling for full national disclosure. They want both the Bank of Ghana and GoldBod to publicly release pricing formulas, fee structures, foreign exchange arrangements, and the criteria used to select aggregators.
In their view, secrecy has only deepened suspicion and weakened confidence in institutions meant to safeguard the public purse.
The Minority further warned that unchecked gold trading has worsened illegal mining and environmental destruction. They are demanding emergency measures, including the suspension of mining permits in forest reserves and the introduction of blockchain-based tracking systems to trace gold from mine sites to final purchase points.
Crucially, the Minority is also insisting on personal accountability at the highest level. They want the Governor of the Bank of Ghana and the Chief Executive Officer of GoldBod to appear before Parliament and submit themselves to unhindered investigations.
“BoG and GoldBod must publish fee structures, pricing formulas, aggregator selection criteria, and all foreign-exchange arrangements tied to this scheme. (3) Environmental Emergency Measures *Suspend permits in forest reserves;* impose blockchain-based mine-level traceability for all purchases. (4) Accountability — Without Fear or Favour The Governor of the Bank of Ghana and the CEO of GoldBod must appear before the Committee, and they must allow unhindered investigation,” the Minority demanded.
Where wrongdoing, negligence, or corruption is established, they argue, prosecutions must follow and all lost funds recovered.
The Minority says this is a defining moment to test governance. They say the demands are not partisan but patriotic, aimed at restoring confidence in Ghana’s gold sector and ensuring that national resources truly benefit the people.
