Governor Addison replies Mahama on Gold-for-Oil allegation; insists policy is not opaque

Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has rejected the allegation that the Gold-for-Oil programme is being run in secrecy.

Speaking at the 3rd Annual Transformational Dialogue on Small-scale Mining at the University of Energy and Natural Resources (UENR) in Sunyani early this month, former President John Dramani Mahama made the assertion that the programme lacks transparency.

The flagbearer of the National Democratic Congress (NDC) promised that when elected president, his government will conduct a probe into the gold-for-oil policy

“We will investigate the opaque gold for oil programme and expose the actors benefiting from this so-called barter agreement.

“Reports reaching me suggest that a new debt burden is being created because Ghana has not been able to keep up with its delivery of gold under the programme,” John Dramani Mahama said.

Reacting to this at the 118th Monetary Policy Committee (MPC) press conference in Accra on Monday, May 27, Governor Dr. Ernest Addison said the former President is wrong.

He said the gold-for-oil policy has been very transparent.

“That is an opinion but I don’t see it that way at all. From our perspective, it is very transparent and open,” Dr. Ernest Addison said.

The Bank of Ghana Governor at the press conference admonished all persons interested in knowing about the policy to engage those in charge.