Parliament to probe alleged reported $1.7bn GoldBod loss
Speaker of Parliament Alban Sumana Kingsford Bagbin has announced that Parliament will scrutinise the reported US$1.7 billion loss, equivalent to about GH¢22 billion, associated with the Domestic Gold Purchase Programme (DGPP).
The move follows a motion filed by the New Patriotic Party (NPP) Minority Caucus calling for a parliamentary inquiry into the reported loss and the summoning of the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, to explain the transactions.
Speaker Bagbin said the parliamentary inquiry would help establish whether the US$1.7 billion figure represented an actual financial loss or a policy cost arising from the implementation of the DGPP.
He disclosed that the motion was received by his office on Friday, August 21, 2026, and that he had reviewed it and intended to admit it for consideration.
“With the motion they have filed, which was received in my office on the 21st of August, 2026, just three days ago, I have gone through the motion myself, and I intend to admit the motion because we have to at least have an end to litigation as to whether it's a loss or it's a cost,” he said.
According to the Speaker, Parliament's consideration of the matter would provide lawmakers with an opportunity to examine the transactions and clarify the circumstances surrounding the reported figure.
“This House will have the opportunity to go through it. And please, Ghanaians are very intelligent people. They will listen, they will read between the lines, and they will make their decisions,” he added.
The NPP Minority Caucus has accused GoldBod of incurring the reported losses through the DGPP, sparking public debate over the financial implications, management and accounting of the programme.
Speaker Bagbin's decision to admit the motion clears the way for Parliament to debate the matter and examine the claims surrounding the reported US$1.7 billion figure.