Gold Board's Exorbitant Expenses Spark Calls for Urgent Forensic Audit
The Gold Board's huge expenditures have raised eyebrows, and some are calling for an urgent forensic audit of its 2025 financial accounts.
According to AFAG, the Gold Board spent a total of GH¢78.68 million in 2025, with various expenditure items including multi-million-cedi allocations.
The Central Bank of Ghana gave the Gold Board $11.7 billion (GH133 billion) under a trading agreement to purchase gold on its behalf.
The IMF estimates that the country has lost around GH22 billion due to the Domestic Gold Purchase Programme, which could have been used to complete key infrastructure projects such as the Accra-Kumasi road and Agenda 111 hospitals.
AFAG is calling for scrutiny of the Gold Board's expenditures, citing concerns over the program's trading losses resulting from service charges, discounts, and high costs associated with buying gold.