Tano North MP and Deputy Ranking Member on Parliament’s Finance Committee, Dr Gideon Boako, has claimed that the Ghana Gold Board (GoldBod) owes the Bank of Ghana (BoG) about GH¢1 billion in overdraft.
According to him, the outstanding liability should be taken into account when assessing GoldBod’s reported financial performance.
His comments come amid an ongoing dispute over GoldBod’s financial position and the reported GH¢22 billion loss associated with the Domestic Gold Purchase Programme (DGPP).
GoldBod has maintained that it recorded a profit of about GH¢907 million, a claim that Dr Boako has challenged.
Speaking on Adom TV on Monday, August 24, Dr Boako questioned the basis for describing GoldBod as profitable if the institution’s books reflect the reported overdraft from the central bank.
“I’ve heard people say that GoldBod says they made a profit of GH¢907m, but that cannot be true because GoldBod took GH¢1bn overdraft from Bank of Ghana and if that is reflected in their books, they’ll actually be in a loss,” he said.
Dr Boako’s comments form part of a broader political and economic debate over GoldBod’s financial position and the accounting treatment of the DGPP.
The Minority has been demanding greater transparency over the programme’s reported losses, while GoldBod has maintained that its own financial performance should be distinguished from losses recorded on the Bank of Ghana’s balance sheet.
