News:
August 24, 2026
Speaker of Parliament Alban Bagbin has announced his intention to admit a motion by the Minority Caucus to establish an ad hoc committee to investigate the operations of the Ghana Gold Board (GoldBod) and the reported GH¢22 billion loss under the Domestic Gold Purchase Programme.
“I have gone through the motion myself and I intend to admit the motion because we have to at least have an end to litigation,” Mr Bagbin told Parliament.
The decision marks a significant shift, as Parliament had previously rejected a similar motion by the Minority in March 2026. That earlier motion, which sought to investigate alleged losses at GoldBod and issues related to the Gold-for-Reserves scheme, was defeated by a voice vote.
The reported GH¢22 billion (approximately US$1.7 billion) loss has become a major political issue. Tano North MP Dr Gideon Boako has attributed the loss to the collective responsibility of GoldBod, the Bank of Ghana, and the Finance Ministry, describing it as a “deliberate profiteering scheme”. Minority Leader Alexander Afenyo-Markin has vowed to pursue a full parliamentary inquiry into the matter.
Mr Bagbin emphasised the importance of transparency, urging Ghanaians to follow the proceedings closely.
“And please, Ghanaians are very intelligent people. They will listen, they will read in between the lines and they will make their decisions,” he said. “But it’s not proper for us to try to cover up anything.”
The Speaker noted that Parliament is now part of the “OPM governance partnership” and that both sides of the house are willing to engage.
“And so this is one of the things that, from listening to both sides, not only in the house, even outside the house, both sides are willing to engage and to explain themselves. And I don’t think that the speaker will be the one that will stand on the way of the country. So I intend to do so,” he stated.
Mr Bagbin also reminded the House that members have the power to request a recall of Parliament under Order 59, rules 2 and 3 of the Standing Orders.
The ad hoc committee, if established, is expected to examine the financial performance of the Domestic Gold Purchase Programme and the circumstances surrounding the reported losses.
Ghanamps.com