$214 loss: ‘Your hypocrisy is as loud as it is shameless’ — NDC activist Kwadwo Ye-Large jabs Minority
National Democratic Congress (NDC) activist Kwadwo Ye-Large, affectionately known as “Political Doctor,” has criticised the New Patriotic Party (NPP) Minority in Parliament over what he describes as deliberate misrepresentation and selective outrage surrounding Ghana’s Gold-for-Reserves (G4R) programme.
His comments follow criticism from the Minority in Parliament after the International Monetary Fund (IMF) reported that Ghana incurred losses under the Gold-for-Reserves programme implemented through GoldBod.
In its fifth review of Ghana’s IMF-supported programme, the Fund disclosed that losses from artisanal and small-scale doré gold transactions had reached $214 million as of September 2025.
In reaction, the Minority has called for a parliamentary ad-hoc committee probe and possible criminal prosecution if wrongdoing is established.
However, Ye-Large asserted the Minority’s attempts to scandalize the programme under the current administration ignore outcomes recorded when the same policy was implemented under the previous NPP-led government.
He noted that in 2024, under the NPP administration, the Bank of Ghana (BoG) purchased approximately 45 tonnes of artisanal and small-scale mining (ASM) gold through the Precious Minerals Marketing Company (PMMC) and its aggregators.
Despite lower global gold prices at the time, the programme, he said, recorded an audited loss of GHS 4.18 billion.
Mr. Ye-Large contrasted this with developments in 2025 under the current administration, where GoldBod has played a coordinating role in the purchase of about 102 tonnes of ASM gold, more than double the previous year’s volume, amid historically high gold prices exceeding US$4,400 per ounce.
In an opinion piece sighted by ModernGhana News, he pointed out that the loss figure of GHS 3.3 billion currently being cited remains unaudited and unverified.
“There comes a time in national discourse when facts are no longer ignored by accident, but deliberately silenced because they are inconvenient. The ongoing attempt by the NPP Minority to scandalize the Gold-for-Reserves (G4R) programme under the current administration is one such moment — and the hypocrisy is as loud as it is shameless.
“Let us be clear from the outset: this is not about accountability. If it were, the same energy would have been applied when the Bank of Ghana, under the NPP, recorded far heavier losses from the very same programme they now pretend to be alarmed about,” he said in an opinion piece sighted by ModernGhana News.
He further dismissed claims that the Gold-for-Reserves initiative was designed as a profit-making venture, explaining that the policy was intended to strengthen foreign reserves, stabilize the currency, reduce pressure on the foreign exchange market, and formalize the ASM gold value chain.