Minority Leader in Parliament, Alexander Afenyo-Markin, has issued a stern warning to officials of the Ghana Gold Board (GoldBod), declaring that those responsible for reported losses under the Bank of Ghana’s Domestic Gold Purchase Programme will eventually face accountability.
Afenyo-Markin said the Minority would not be intimidated by criticism or personal attacks as it continues to demand answers over what it considers a major financial loss to the Ghanaian state.
Speaking to journalists on Tuesday, August 18, the Minority Leader warned officials currently managing the programme that they should not assume their actions would escape scrutiny indefinitely.
“The Minority will say this firmly and boldly. It doesn’t matter the adjectives you will use to attack our personality. We know that a day of reckoning will come. They should remember that post-regime accountability awaits them,” he said.
His comments come in the wake of an August report by the International Monetary Fund (IMF), which disclosed that the Bank of Ghana’s Domestic Gold Purchase Programme, implemented through GoldBod, recorded losses exceeding US$1.7 billion in 2025.
The IMF reportedly assessed the losses at approximately 1.5 per cent of Ghana’s Gross Domestic Product (GDP), raising fresh questions about the financial structure, operations and management of the programme.
For the Minority, the scale of the reported losses demands detailed explanations from the government and GoldBod, particularly given the strategic importance of gold to Ghana’s foreign-exchange reserves and broader economic management.
Afenyo-Markin insisted that the Minority would continue to scrutinise the programme despite what he described as attempts to distract attention from the substantive issues.
He maintained that political officeholders and public officials must understand that occupying positions of authority does not place them beyond accountability.
The Minority Leader’s warning effectively puts GoldBod officials and other actors associated with the programme on notice that questions surrounding the reported losses are unlikely to disappear.
He said the Minority would continue to pursue the matter and seek answers on how the losses occurred, who took the relevant decisions and whether appropriate safeguards were in place to protect public funds.
The controversy has consequently intensified calls for greater transparency over GoldBod’s operations, with the Minority insisting that the Ghanaian taxpayer deserves a clear account of the financial implications of the gold purchase programme.
