The Minority caucus in Parliament has called for an urgent bipartisan investigation into what it describes as a significant financial loss to the state, estimated at $214 million and potentially rising to $300 million.
Addressing the media at a press conference on Monday, December 29, Minority spokesperson Kojo Oppong Nkrumah said Parliament must lead the process of uncovering how the loss occurred and who is responsible.
“We are demanding a bipartisan parliamentary enquiry into the circumstances under which the Republic of Ghana has lost 214 million dollars, heading to 300 million dollars,” he said.
He explained that the Minority is pushing for the creation of a special ad-hoc parliamentary committee with the authority to compel the production of documents and summon individuals connected to the scheme.
“And we’re asking for a parliamentary ad-hoc investigative committee with power to subpoena all contracts, licences and intermediaries,” Oppong Nkrumah stated.
According to him, the enquiry must require full transparency from key institutions involved.
“Under this bipartisan enquiry, we will be expecting the Bank of Ghana and the Gold Board to publish the fee structure, the pricing formula, the aggregator selecting criteria and all foreign exchange arrangements tied to this scheme,” he added.
The Minority also wants senior officials to appear before Parliament to account for their roles.
“We are expecting the Governor of the Central Bank and the Chief Executive of the Gold Board to appear before the committee and to provide all the information that is required for the Republic to understand in detail what has happened,” he said.
Oppong Nkrumah stressed that the process must lead to accountability.
“Where negligence or corruption is proven, prosecutions must follow and all recoverable funds must be clawed back to the state,” he concluded.
