Kojo Oppong Nkrumah is MP for Ofoase-Ayirebi
The Minority in Parliament is calling for a bipartisan parliamentary inquiry into what they describe as a critical financial loss to the state by the ruling National Democratic Congress (NDC) government, amounting to $214 million under the Bank of Ghana’s Gold-for-Reserves programme.
According to the Minority, the inquiry should be conducted on a bipartisan basis to establish the circumstances under which the losses occurred and to recommend safeguards to prevent a recurrence.
Speaking to the press on Monday, December 29, 2025, Kojo Oppong Nkrumah said the government has shown neither originality nor competence in its economic governance.
“The truth about this government is that they have not introduced any superior economic ideas. All they have been doing is rebranding, renaming old things and sometimes even hiding the details until we, the Minority, bring them to the public’s attention,” he said.
The Minority is also pushing for the establishment of a parliamentary ad-hoc investigative committee, demanding that the Bank of Ghana and the Gold Board make public the full details of the arrangement underpinning the transaction.
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“Under this bipartisan inquiry, we expect the Bank of Ghana and the Gold Board to publish the fee structure, the pricing formula, the criteria for selecting aggregators and all foreign exchange arrangements tied to this scheme, which has led to the loss.
“There are also environmental issues that must be addressed and one of the things we will be asking for is a suspension of permits in forest reserves and the introduction of strict measures on traceability, because at present we have every reason to believe that state money is being misused,” he stated.
The Minority added that they expect the Governor of the Central Bank and the CEO of the Ghana Gold Board to appear before the proposed committee to answer questions.
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