The Ghana Gold Board has rejected suggestions of a breakdown in the GoldBod BoG relationship, saying Bank of Ghana Governor Dr Johnson Pandit Asiama stopped personally serving on its board after nominating Second Deputy Governor Matilda Asante-Asiedu to represent him.
GoldBod issued the clarification after Dr Asiama disclosed at the Bank of Ghana’s latest Monetary Policy Committee briefing that he had “resigned” from the GoldBod Board about five months earlier and no longer attended its meetings.
According to GoldBod, the change should not be interpreted as evidence of a dispute between the two institutions or as proof of wrongdoing at the gold trading agency.
The Board said Dr Asiama simply exercised an option available under the Ghana Gold Board Act, 2025.
Act 1140 Allows Governor to Nominate Representative
Section 4 of Act 1140 provides that the GoldBod governing board must include either the Governor of the Bank of Ghana or a representative nominated by the Governor who is not below the rank of Director.
GoldBod said Dr Asiama initially chose to serve personally when the institution’s board was inaugurated in 2025. The original board published by GoldBod indeed listed him as the Bank of Ghana representative.
The agency now says that on May 11, 2026, Dr Asiama wrote to nominate Mrs Asante-Asiedu to represent him because of his schedule.
“The Governor simply opted to nominate his second deputy to represent him on the governing Board of the GoldBod,” the institution stated.
GoldBod’s account of the May 11 nomination was contained in its latest statement. The letter itself was not independently available in the sources reviewed.
GoldBod Rejects Claims of Institutional Disagreement
The clarification follows political scrutiny of Dr Asiama’s earlier membership of the Board.
Former Finance Minister and Karaga MP Dr Mohammed Amin Adam had argued that the Governor’s participation raised conflict of interest concerns because of the Bank of Ghana’s financial relationship with GoldBod and the domestic gold purchase programme.
Dr Asiama subsequently said his personal membership had already ended, while stressing that Act 1140 still requires Bank of Ghana representation on the Board.
GoldBod has now gone further, saying the Governor’s departure did not result from a disagreement between the institutions.
It pointed to similar arrangements involving other statutory members. According to the Board, Finance Minister Dr Cassiel Ato Forson was represented from the outset by Deputy Finance Minister Thomas Nyarko Ampem, while Lands and Natural Resources Minister Emmanuel Armah Kofi Buah later nominated a ministry official in his place.
The issue therefore turns on representation rather than whether the Bank of Ghana continues to have a statutory seat. Under Act 1140, that institutional representation remains intact even when the Governor does not personally attend GoldBod board meetings.
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