The Minority in Parliament has called for a bipartisan parliamentary inquiry into what they describe as a critical financial loss to the state by the ruling National Democratic Congress (NDC) administration, amounting to $214 million under the Bank of Ghana’s Gold-for-Reserves programme.
They stated that the inquiry should be conducted on a bipartisan basis to establish the circumstances under which the losses occurred and to recommend safeguards to prevent a recurrence.
Speaking to the media on Monday, December 29, the Member of Parliament (MP) for Ofoase Ayirebi Constituency, Kojo Oppong Nkrumah, expressed his concerns, stating, “The truth about this government is that they have not introduced any superior economic ideas.
“All they have been doing is rebranding, renaming old things and sometimes even hiding the details until we, the Minority, bring them to the public’s attention.”
The Minority is requesting the establishment of a parliamentary ad-hoc investigative committee, demanding that the Bank of Ghana and the Gold Board make public the full details of the arrangement underpinning the transaction.
“Under this bipartisan inquiry, we expect the Bank of Ghana and the Gold Board to publish the fee structure, the pricing formula, the criteria for selecting aggregators, and all foreign exchange arrangements tied to this scheme, which has led to the loss,” he stated.
Moreover, the Minority emphasised that there are environmental issues that must be addressed.
One of the aspects they will be requesting is a suspension of permits in forest reserves along with the introduction of strict measures on traceability, as they currently have substantial reasons to believe that state money is being misused.
They also expect the Governor of the Central Bank and the CEO of the Ghana Gold Board to appear before the proposed committee to answer questions.
