The Institute for Economic Research, Policy, and Practice (IERPP) has called on Parliament to haul the Minister of Finance and the Governor of the Bank of Ghana to Parliament to explain conflicting official statements they have given over the Gold for Oil programme.
In a statement issued on Tuesday, August 12, 2025, the IERPP expressed “grave concern” over what it describes as “official conflicting statements” by the Finance Minister, Dr Ato Forson, and the Governor, Dr Johnson Pandit Asiama, over the policy, which was initiated under the previous government.
“On March 3, 2025, the BoG Governor, Dr. Johnson Asiama, confirmed that the G4O programme had been operational but was suspended due to policy and operational challenges. Further, on August 11, 2025, the First Deputy Governor revealed that 27.63 tonnes of gold were used to settle 1.95 million metric tonnes of petroleum products under G4O,” the statement said.
It continued: ”Yet, on July 25, 2025, Finance Minister Dr. Cassiel Ato Forson declared emphatically that “there was no barter… never, never”, insisting that the so-called G4O was nothing more than conventional dollar payments for oil.
The IERPP said, “These statements cannot both be true. Ghanaians deserve more than contradictory soundbites; they deserve facts, adding that the contradictions damage Ghana’s credibility.
The IERPP, therefore, called on Parliament to ”immediately summon the Governor of the BoG and the Minister of Finance to present reconciled, verifiable data on the G4O programme,” adding that ”the truth must be placed on public record to restore confidence in our economic management.”.
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