Education Minister Calls for Review of GoldBod Losses, Questions Dual Role With Bank of Ghana

The Minister for Education, Hon. Haruna Iddrisu, has called for a thorough review of reported losses at GoldBod, urging stakeholders to confront the issue openly rather than avoid it. Speaking on the matter, the Minister said there have been reported cases of losses at the GoldBod and stressed that the country must not run away from it.

His comments come amid growing concerns over the financial performance of the state-owned gold trading entity and its relationship with the Bank of Ghana. Hon. Iddrisu emphasized the need for a detailed assessment of whether GoldBod and the central bank can operate concurrently without exposing the state to significant financial losses.

The Minister’s call highlights broader questions about the mandate of GoldBod, established to oversee gold purchases and exports, and its operational ties with the Bank of Ghana. Critics have argued that overlapping responsibilities could create conflicts of interest and weaken accountability, particularly if losses are recorded without clear consequences.

Hon. Iddrisu noted that transparency and proper oversight are essential to protecting public funds. He urged relevant institutions, including the Ministry of Finance and the Bank of Ghana, to provide clarity on the nature and extent of the reported losses and to recommend reforms where necessary.

The development has sparked public debate about the sustainability of Ghana’s gold sector reforms, with many calling for urgent parliamentary scrutiny. Analysts say the review could determine whether GoldBod remains a viable institution or requires restructuring to prevent further strain on the national purse.

The Minister’s remarks are expected to intensify pressure on authorities to act decisively, as Ghanaians await detailed findings and concrete steps to safeguard the country’s financial interests.

https://x.com/SIKAOFFICIAL1/status/2110016062607560968

Ghana's_Fantastic_News feedback-opera-news-app@opera.com