The Central Regional branch of the New Patriotic Party (NPP) has called for a comprehensive reconciliation of the finances of the Domestic Gold Purchase Programme (DGPP), saying Ghanaians deserve clear answers on the reported US$1.7 billion loss associated with the initiative.
The Regional Secretary, Mr Richard Tekyi Mensah, said the demand was not about determining whether GoldBod itself recorded a loss, but about establishing the complete financial picture of the wider programme and its impact on public finances.
He made the call at a press conference on Thursday while expressing the region’s support for the Minority Leader and Member of Parliament for Effutu, Mr Alexander Afenyo-Markin, who has called for a parliamentary probe into the reported losses.
Mr Afenyo-Markin, on August 18, 2026, called for Parliament to investigate the reported GH¢22 billion loss and demanded an explanation from government, while rejecting allegations that his scrutiny of the matter was linked to extortion.
Mr Tekyi Mensah said the Central Regional NPP considered an investigation necessary to establish the facts and ensure accountability for public resources.
He urged the relevant state institutions to conduct a thorough and impartial examination of the programme and publish their findings to reassure the public.
“If the figure is incorrect, then the institutions responsible must publish documents to demonstrate why the figure is wrong,” he said.
“But if the figure is correct, then the country must be told how the losses occurred. We want to know who authorised the transactions, who bought the gold and at what price, who sold the gold and at what price, what financing costs were incurred and what valuation losses arose.”
Mr Tekyi Mensah acknowledged that GoldBod had maintained that its audited accounts did not show a GH¢22 billion loss and that the organisation recorded a substantial surplus.
He also cited the Institute for Fiscal Policy Governance, which reportedly indicated that GoldBod did not record such a loss and instead posted a surplus of about GH¢5.44 billion.
“Let the accounts speak,” he said, arguing that the apparent difference between GoldBod’s financial position and the wider reported losses made a detailed reconciliation even more necessary.
According to him, an entity participating in a broader government programme could report a surplus in its own accounts while losses were incurred elsewhere within the overall financial structure of the programme.
“We are not asking GoldBod to manufacture a loss in its accounts but to explain the entire financial architecture of the Domestic Gold Purchase Programme to Ghanaians,” he said.
The Regional Secretary said questions about the programme had also been raised by economists and other professionals.
He referred to comments attributed to Professor Godfred Alufar Bokpin, who had raised concerns about losses associated with the Bank of Ghana’s gold purchasing programme and described aspects of its design as having significant defects.
He also cited University of Ghana economics lecturer Dr Adu Owusu Sarkodie, who argued that the financial burden associated with the programme should be examined in relation to both the Bank of Ghana and GoldBod.
Mr Tekyi Mensah said the debate should therefore move beyond political exchanges and focus on verifiable financial records.
He said the reported GH¢22 billion represented more than an accounting figure, arguing that resources of that magnitude could have supported jobs, healthcare, education, roads, agriculture, industrial development and opportunities for young people.
He maintained that the public had a right to know whether the reported losses occurred, how they occurred and which institutions or transactions were responsible.
The Central Regional NPP also rejected what it described as attempts to portray Mr Afenyo-Markin’s demand for scrutiny as politically motivated.
Mr Tekyi Mensah said the Minority Leader was exercising his responsibility to question matters involving public resources and deserved the support of the party.
“We stand today in defence of our national parliamentary leader,” he said, insisting that Mr Afenyo-Markin was raising questions about billions of cedis belonging to Ghanaian taxpayers.
He added that the Central Region would continue to support the Minority Leader in pursuing legitimate avenues to establish the facts surrounding the gold programme and address allegations made against him.
The Regional Secretary said the ultimate objective should be transparency, accountability and protection of public resources, stressing that the controversy could only be resolved through the publication and reconciliation of the relevant financial records.
