Speaker of Parliament Alban Bagbin says the House will scrutinise the reported US$1.7 billion gold programme loss, equivalent to about GH¢22 billion, as lawmakers move to settle the growing dispute over transactions under the Domestic Gold Purchase Programme.
His comments follow a motion filed by the Minority Caucus seeking a parliamentary inquiry into the figure and demanding answers on the role of the Ghana Gold Board in the transactions.
The Minority also wants GoldBod Chief Executive Officer Sammy Gyamfi summoned before Parliament to explain the circumstances surrounding the reported amount.
Parliament to Determine Loss or Policy Cost
At the centre of the controversy is a disagreement over how the US$1.7 billion should be characterised.
Speaker Bagbin said parliamentary scrutiny should establish whether the figure represents an actual financial loss to the state or a policy cost associated with implementing the Domestic Gold Purchase Programme.
“With the motion they have filed, which was received in my office on the 21st of August, 2026, just three days ago, I have gone through the motion myself and I intend to admit the motion,” he said.
According to the Speaker, allowing Parliament to examine the matter should help bring some finality to the argument “as to whether it’s a loss or it’s a cost.”
Minority Motion to Be Admitted
Mr Bagbin confirmed that the Minority’s motion will be admitted, opening the way for the House to formally debate and scrutinise the gold purchasing programme.
“This House will have the opportunity to go through it,” he said.
The Speaker also urged the public to follow the parliamentary process and assess the evidence presented by the competing sides.
“Ghanaians are very intelligent people. They will listen, they will read in between the lines and they will make their decisions,” he added.
The expected parliamentary inquiry now sets up another round of scrutiny of GoldBod and the Domestic Gold Purchase Programme, with the classification and composition of the reported US$1.7 billion likely to dominate proceedings.
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