Amin Adam Demands Removal of BoG Governor from GoldBod Board Over Financial Concerns

Former Finance Minister Dr Mohammed Amin Adam has called for the removal of Bank of Ghana (BoG) Governor Dr Johnson Asiama from the Board of GoldBod. He expressed concerns over the central bank's financial dealings with the gold-buying institution.

Amin Adam questioned the appropriateness of the BoG Governor serving on the GoldBod Board while the central bank is also involved in financing the institution's operations, amounting to GH¢133 billion. He wondered if there was a clear agreement outlining their relationship and terms.

The former Finance Minister also asked whether the BoG was aware that the transactions could result in financial losses, given its knowledge of gold prices at which it was purchased and sold.

Amin Adam urged the government to remove Dr Asiama from the GoldBod Board to prevent what he described as a potential conflict of interest. He demanded the publication of key documents relating to GoldBod's operations, including legislative instruments governing fees and restated 2025 accounts excluding GH¢4.54 billion government capital injection.

Amin Adam supported calls for a comprehensive parliamentary inquiry into reported losses associated with the domestic gold purchase programme. He cited discrepancies in figures reported by different institutions, including GH¢22 billion loss to the International Monetary Fund (IMF), GH¢9.05 billion loss by BoG and GH¢5.45 billion surplus by GoldBod.