In a thunderous cry for accountability, the People’s National Party has unleashed a blistering call for the total dismantling of GoldBod, the dramatic ousting of the Governor of the Bank of Ghana, and the swift removal of the company’s Chief Executive Officer — with both men marched straight before the Office of the Special Prosecutor.
The party says it is staggered — stunned to its core — by what it portrays as a catastrophic financial hemorrhage, an estimated $214 million (about GHC 2.5 billion) drained from the nation’s lifeblood through the operations of the state-backed gold trading venture.
In a fiery statement, the PNP condemned what it describes as reckless, bewildering commercial decision-making, insisting it defies logic for a government-linked institution to buy gold at prices higher than the global market — only to sell it cheaper.
At a moment when international gold prices hovered around $4,054 per ounce, GoldBod is reported to have offloaded gold at roughly $3,919, a price gap the PNP says locks in disaster instead of profit.
“No disciplined or sensible enterprise behaves like this,” the statement thundered, stressing that real businesses survive by buying below or at market value — never above it.
The party further pointed to glaring contradictions in public pronouncements from GoldBod’s leadership, arguing that while past officials boasted of buying gold at a discount, the current arrangements shockingly suggest purchases made at a premium.
Even more alarming, the PNP warned that the alleged losses are being quietly shifted onto the Bank of Ghana, a move it says threatens to weaken the nation’s financial fortress and place the broader economy in peril.
“The central bank exists to shield the nation — not to soak up reckless, avoidable losses born of poor judgment,” the party declared.
The PNP also questioned how a gold-exporting entity could operate without clearly accounting for off-taker charges and operational costs, branding any such omission a breathtaking display of mismanagement.
The party raised deeper fears about the Bank of Ghana’s role in these arrangements, arguing that its involvement strays far beyond its constitutional mandate and exposes grave failures in governance and oversight.
With tension rising and confidence shaken, the PNP has called on President John Dramani Mahama to act with bold, uncompromising resolve in defense of the nation.
Its demands are sweeping: the immediate dissolution of GoldBod, urgent safeguards to protect the central bank and the wider economy, and decisive steps to confront environmental harm linked to gold extraction gone unchecked.
The party further insists that both the Governor of the Bank of Ghana and the CEO of GoldBod be removed from officeand handed over to investigators to answer for the staggering losses.
According to the PNP, the Ghanaian people deserve nothing less than a full, transparent explanation — why the gold was sold at a loss, why the damage was allowed to continue, and why those entrusted with oversight failed to act.
