GoldBod cannot hide behind agency role to escape accountability – Afenyo-Markin

Minority demands details of gold transactions Mr Afenyo-Markin said GoldBod’s central role in Ghana’s gold trading system made it necessary for the institution to provide detailed explanations about transactions financed by the Bank of Ghana.

Minority Leader and Effutu MP, Alexander Afenyo-Markin, has rejected GoldBod’s position that its role as an agent of the Bank of Ghana (BoG) shields it from responsibility for losses arising from the country’s gold trading operations.“If an institution earns transaction-based income for purchasing, assaying, and aggregating gold, while the financier bears the underlying trading losses, then increasing transaction volumes may increase the agent’s revenue, even where the overall programme destroys value for the principal,” he said.