The Ghana Gold Board (GoldBod) has challenged claims that it is carrying a GH¢1 billion overdraft with the Bank of Ghana (BoG), insisting that the institution has no outstanding borrowing with the central bank or any financial institution.
The dispute follows a claim attributed to Tano North Member of Parliament, Dr Gideon Boako, that GoldBod owes the Bank of Ghana GH¢1 billion under an overdraft arrangement.
In a statement issued on Monday, August 24, 2026, GoldBod categorically rejected the claim and said its financial records do not support the allegation.
The Board stated that since its establishment, it has not contracted any loan, overdraft or other debt instrument from the Bank of Ghana or any financial institution.
“For the records, the GoldBod has never at any time since its establishment taken a loan, overdraft or any debt instrument from the Bank of Ghana or any financial institution whatsoever,” the statement said.
GoldBod described the allegation as “totally false” and accused its proponents of attempting to damage the institution’s reputation through what it called a deliberate smear campaign.
It further dismissed the claim attributed to Dr Boako as “contrived” and urged the public to disregard it.
The controversy comes amid increased public and political scrutiny of GoldBod’s financial operations and its role in Ghana’s domestic gold purchasing programme.
GoldBod has therefore called on the Tano North MP to publicly withdraw the allegation and apologise for what the institution considers the dissemination of false information.
“We entreat the MP to unequivocally retract and apologise for putting out this falsehood,” the statement said.
The Board’s response effectively shifts the focus to the accuracy of the alleged GH¢1 billion liability, with GoldBod maintaining that its records show no borrowing relationship with the Bank of Ghana or other financial institutions.
