Bank of Ghana (BoG) Governor Dr Johnson Asiama has clarified his relationship with the Ghana Gold Board (GoldBod), saying he stepped down from its Board of Directors about five months ago.
His clarification follows concerns raised by the New Patriotic Party (NPP) over his reported membership of the GoldBod Board and whether his involvement in both institutions could raise potential conflict-of-interest concerns.
Speaking to journalists, Dr Asiama said he no longer attends meetings of the GoldBod Board and stressed that the law does not make it mandatory for the BoG Governor to personally serve on the board.
“I resigned from the GoldBod Board about five months ago or so. I do not attend board meetings at the GoldBod at all,” Dr Asiama said.
He explained that while the Ghana Gold Board Act, 2025 (Act 1140) provides for the Bank of Ghana to be represented on the GoldBod Board, the representative does not necessarily have to be the Governor.
“The law that governs the activities of the GoldBod, there’s a provision there for the Bank of Ghana to be represented either by the Governor or any other official up to the rank of a director. It does not necessarily need the Governor to be there,” he said.
The comments come amid scrutiny of the relationship between the central bank and GoldBod, particularly the BoG’s role in financing GoldBod’s gold-purchasing operations under the domestic gold purchase programme.
Former Finance Minister and NPP MP for Karaga, Dr Mohammed Amin Adam, had raised questions about Dr Asiama’s reported position on the GoldBod Board during an NPP press briefing on September 1.
The concerns also touched on reported losses associated with the domestic gold purchase programme and the extent of the central bank’s financial involvement in GoldBod’s operations.
Dr Asiama’s explanation indicates that although the Bank of Ghana is required to have representation on the GoldBod Board, that role can be performed by another senior BoG official rather than the Governor himself.
