During a recent session of Parliament’s Public Accounts Committee (PAC), Chairperson Abena Osei‑Asare questioned Bank of Ghana Governor Dr. Johnson Pandit Asiama over significant losses linked to the Gold‑for‑Reserves (G4R) and related gold programmes. The programmes were implemented to strengthen foreign exchange reserves and support the country’s economy.
Osei‑Asare pressed the Governor to explain how the programmes were managed, the oversight measures in place, and the reasons behind the growing financial deficits. She emphasized the need for transparency and accountability in handling public resources.
Dr. Asiama acknowledged that the gold-based initiatives had recorded losses and stated that the Bank is taking steps to improve risk management and transparency. He also mentioned that external audits are ongoing to verify the financial outcomes of both the Gold‑for‑Reserves and Gold‑for‑Oil programmes.
While some losses for previous years have been confirmed, final figures for 2025 are pending the completion of the external audit. The PAC has urged the Bank to provide detailed explanations for all losses and to ensure proper oversight of future transactions.
The exchange highlights growing public and parliamentary concern over the management of the Bank of Ghana’s gold programmes and the importance of protecting national financial resources.
