Minority Slams BoG Governor Over $214M Gold-for-Reserves Loss
Deputy Minority Leader calls for investigation and accountability in controversial programme
- The Minority Caucus has criticized BoG Governor Dr. Johnson Asiama over the $214 million loss in the Gold-for-Reserves programme
- Deputy Minority Leader Patricia Appiagyei called for a thorough investigation and accountability, highlighting oversight failure
- The caucus warned that failure to address these issues could erode public trust in the Bank of Ghana and Ghana’s financial governance
The Minority Caucus in Parliament has criticised Bank of Ghana (BoG) Governor Dr. Johnson Asiama for alleged oversight failures following the $214 million loss in the Gold-for-Reserves programme.
Speaking on behalf of the caucus on Thursday, January 8, Deputy Minority Leader and Asokwa MP Patricia Appiagyei condemned the management of the programme under Dr. Asiama’s leadership and called for a thorough investigation to ensure accountability.
“The institution that manages the Gold-for-Reserves programme, whose balance sheet bears the $214 million loss, failed in oversight under the Governor’s watch. Excessive fees were allowed, trading losses mounted, controls failed, and when the IMF raised concerns, the Bank of Ghana issued a press release dismissing them instead of investigating,” she said.
The caucus stressed that public trust in Ghana’s financial institutions depends on transparency, warning that failure to address such issues could erode confidence in the Bank of Ghana and the broader financial governance framework.
“As Governor, he must answer: What oversight did the Bank of Ghana provide? When were these losses detected? Why defend and deny instead of investigate? Who approved the off-taker contracts?” Appiagyei asked.
She further noted that politically exposed actors should not be shielded from scrutiny, especially when public funds are involved, highlighting growing public concern over accountability in high-profile financial matters.
