GoldBod controversy: Bawumia looking for economic crisis to revive his political career – Edudzi Tamakloe
Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has accused former Vice President Dr Mahamudu Bawumia of seeking to create an economic scandal around the government to revive his political fortunes.
He said the ongoing controversy over the reported $1.7 billion loss associated with the Domestic Gold Purchasing Programme was being politically re-engineered to undermine the government and create an issue for the New Patriotic Party (NPP) ahead of the 2028 elections.
Speaking on TV3’s New Day on Monday, August 24, Mr Tamakloe defended the programme, arguing that its financial returns should be considered alongside the costs incurred.
“Dr Mahamudu Bawumia was elected by the NPP as Flagbearer on 31st January 2026, and from that time he is stuck because he needs a crisis. He needs a major disaster, economic in nature, to revive his political career,” he said.
Edudzi Tamakloe argued that the Domestic Gold Purchasing Programme had generated significant economic benefits despite the reported costs associated with its implementation.
He compared the programme with Ghana’s IMF financing, arguing that the country had borrowed billions of dollars from the Fund while paying interest and complying with conditions attached to the loans.
According to him, the reported $1.7 billion should not be viewed in isolation because the programme had generated about $10.8 billion in benefits and operated as a revolving fund.
He therefore rejected suggestions that the reported cost automatically meant the programme was a failure.
“If you invest 1.7 billion dollars into an enterprise, and at the end, it brought you 10.8 billion dollars and a revolving fund, how in God's name can anybody call this a bad initiative?” he asked.