Boako questions GoldBod’s GH¢907m profit claim over alleged GH¢1bn BoG overdraft

Deputy Ranking Member of Parliament’s Finance Committee and Member of Parliament for Tano North, Dr Gideon Boako Tano North MP and Deputy Ranking Member on Parliament’s Finance Committee, Dr Gideon Boako, has questioned claims by the Ghana Gold Board (GoldBod) that it recorded a profit of about GH¢907 million, arguing that the figure does not adequately account for an alleged GH¢1 billion overdraft owed to the Bank of Ghana (BoG).

Dr Boako claims GoldBod obtained about GH¢1 billion in overdraft from the central bank and argues that the liability should be reflected in the institution’s financial accounts when assessing its overall financial position.“I’ve heard people say that GoldBod says they made a profit of GH¢907m, but that cannot be true because GoldBod took GH¢1bn overdraft from Bank of Ghana and if that is reflected in their books, they’ll actually be in a loss,” he said.