The Minority New Patriotic Party (NPP) caucus has called for the immediate establishment of a bipartisan parliamentary committee to investigate a reported US$214 million loss under Ghana’s Gold-for-Reserves programme.
Addressing a press conference in Parliament House on Thursday, January 8, 2026, Deputy Minority Leader Patricia Appiagyei said the scale of the losses, as cited in an International Monetary Fund (IMF) assessment, raises serious questions about governance, transparency and value for money in the management of the programme.
The Asokwa legislator urged Parliament to subpoena all off-taker contracts linked to the gold trading operations, compel officials of GoldBod and the Bank of Ghana to testify under oath, and subject all trading data to thorough parliamentary scrutiny to establish how the losses occurred and who bears responsibility.
According to the Minority, the Gold-for-Reserves initiative, which was intended to shore up Ghana’s foreign reserves and stabilise the cedi, has instead become a source of fiscal risk, with excessive off-taker fees and weak oversight cited as possible drivers of the losses.
“The public deserves full disclosure on how a programme operating in a favourable global gold market could record such significant losses within a short period,” Ms Appiagyei said, adding that Parliament must act swiftly to protect the public purse and restore confidence in the management of the scheme.
Beyond the gold-for-reserves concerns, the Minority also used the press conference to criticise the government’s broader economic management, security challenges, the fight against illegal mining, treatment of farmers, unemployment and issues of governance and accountability.
By: Christian Kpesese
