Deputy Minority Leader in Ghana’s Parliament, Hon. Patricia Appiagyei, has raised serious concerns over financial irregularities involving the state-owned GoldBod company, accusing the firm of misrepresenting its financial performance to the public.
According to Hon. Appiagyei, the International Monetary Fund (IMF), in its recent review under Ghana’s economic support programme, uncovered a staggering214 million in trading losses incurred by GoldBod.
These losses, she alleged, had been concealed from public scrutiny, undermining transparency and fiscal accountability.
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Speaking in Parliament, the Deputy Minority Leader further accused the gold-trading entity of presenting agency and transaction fees as surplus revenue in its financial reports — a move she described as deceptive and aimed at creating a false impression of profitability.
“The reality is that GoldBod did not make any operational profit. What was paraded as surplus is not actual trading gains, but agency commissions and one-off fees,” Hon. Appiagyei stated. “The IMF’s audit confirms our fears about the true state of affairs at the company.”
She called on the government to provide full disclosure of GoldBod’s financial activities and to initiate an independent forensic audit to ensure accountability.
The Minority has also urged Parliament to summon key officials of the company and the Ministry of Finance for questioning.
The allegations have sparked debate, with civil society organisations and financial analysts demanding clarity and accountability in the management of Ghana’s natural resource revenues.
As of now, GoldBod and the Ministry of Finance have not issued an official response to the accusations.