BY Daniel Bampoe
The Centre for Policy Scrutiny (CPS) has intensified calls for an independent investigation into the reported US$1.7 billion, estimated at about GH¢22 billion, losses associated with Ghana’s Domestic Gold Purchase Programme (DGPP), arguing that the controversy has reached a point where only a transparent, evidence-based inquiry can establish the facts.
The policy think-tank has welcomed a fresh motion by the Minority in Parliament seeking an investigation into the reported GoldBod losses, specifically supporting Minority Leader Alexander Afenyo-Markin’s proposal for the establishment of an Ad Hoc Committee to examine the circumstances surrounding the reported financial losses.
For the CPS, the issue goes beyond the headline figure. It believes Parliament must examine the transactions, institutions and financing structures behind the DGPP to determine precisely how the reported losses occurred, whether the figures accurately reflect the programme’s financial position and where responsibility lies.
The Centre is calling for the proposed inquiry to establish the exact nature and source of the reported US$1.7 billion loss and identify the specific transactions that allegedly generated the loss. It also wants investigators to establish how the figures were calculated and the basis for the financial claims currently dominating public and political debate.
A major area of concern for the CPS is the respective roles played by the Bank of Ghana and GoldBod in implementing the programme. The Centre wants Parliament to examine the responsibilities and financial exposures of both institutions, including how transactions connected to the gold-purchasing programme were recorded and accounted for.
The investigation, according to the policy group, should also assess whether the Domestic Gold Purchase Programme has delivered sufficient value in relation to the financial resources committed to it. This, it says, is particularly important given the potential implications of the programme for Ghana’s foreign-exchange reserves and wider public finances.
CPS Wants Evidence, Not Political Claims
The CPS has urged Parliament to ensure that any inquiry is bipartisan, transparent and firmly anchored in documentary evidence rather than political accusations or competing narratives.
It says the proposed committee should scrutinise audited accounts, transaction records, contracts and other relevant documentation capable of establishing what actually happened.
“The investigation should remain transparent, evidence-based and bipartisan,” the CPS stressed.
