The People’s National Party (PNP) is demanding the immediate dissolution of Ghana Gold Board (GoldBod) following recent records of losses in turnover.
The opposition party is calling on President John Dramani Mahama to refer the Chief Executive Officer (CEO) of the state institution, Sammy Gyamfi, to the Office of the Special Prosecutor (OSP) for interrogation over the recent reports.
In a statement issued by Chairperson and Leader Janet Asana Nabla on Monday, December 29, the PNP indicated that it defies basic business logic for a state institution established to trade in gold to purchase the commodity higher than prevailing world market prices.
“At a time when international gold prices stood at approximately $4,054, GoldBod is reported to have sold at about $3,919.
“No prudent commercial institution operates this way.”
It also raises alarm over the Bank of Ghana’s role in the operations of GoldBod, saying it cannot absorb the losses of the company.
“The Bank of Ghana exists to safeguard the economy not to absorb avoidable commercial losses arising from poor operational decisions.”
The party, therefore, wants President Mahama to dissolve GoldBod and take legal action against not only the CEO but also the BoG Governor.
“We further demand that both officials account to Ghanaians for why gold was sold at a loss, why those losses were allowed to continue, and why corrective action was not taken in a timely manner.”