Incoming Majority Leader James Agalga has backed an early parliamentary probe into the operations of the Ghana Gold Board (GoldBod), saying the investigation will help address concerns raised by the Minority.
Speaking on Joy News’ PM Express on Monday, the Builsa North MP said Parliament could use either an ad hoc committee or the Public Accounts Committee to examine the issues.
He said the choice of vehicle should be left to the Speaker.
“So already there is a committee that can deal with those matters. But we leave these matters to the right honourable speaker, who is very experienced,” he said.
Mr Agalga said several documents already contain answers to questions being raised about GoldBod.
“One, in the Auditor-General’s report, which is there. It’s dated 2025. The accounts expenditure of the Gold Board was carefully audited, and there is a report,” he said.
He also cited the agreement between the Precious Minerals Marketing Company and the Bank of Ghana, its addendum, and an IMF report.
“All the answers to the questions that have been asked, you can find in those documents,” he said.
However, he believes a probe should still proceed to address concerns raised by the Minority.
“But you see, in order to satisfy the curiosity of the minority, look, an ad hoc committee can be established,” he said.
Mr Agalga insisted that the investigation must not be restricted to 2025.
He wants Parliament to examine the Domestic Gold Purchase Programme from its beginning to establish how the scheme has operated and the costs involved.
“In order not to appear as though the GoldBoard has something to hide, I think that the matter should be probed. But in doing so, let us expand the scope so that we don’t suppress anything,” he said.
“Let all the issues come to the fore. Let’s find answers to all the issues.”
He said Parliament should also examine why the Bank of Ghana absorbed the costs associated with using forex bureau rates in the purchase of gold.
Mr Agalga also wants the probe to assess the benefits Ghana has derived from the programme.
“We’d also want to establish for ourselves what dividends we have so far reaped,” he said.
He pointed to the country’s reserves, currency stability and declining inflation as issues that should form part of the assessment.
“We are talking about creating reserves amounting to GH¢13 billion from GH¢8 billion within the space of one and a half years. We’re talking about the stabilisation of our currency. Inflation is down as a result. We’re now talking about single-digit inflation,” he said.
“I mean, there is costs associated with stability.”
According to him, GoldBod has been central to the government’s strategy.
“Today, we’re enjoying a lot of stability. We are ranked the eighth- or ninth-strongest economy in Africa. We’ve overtaken Ivory Coast again,” he said.
“The stability we are witnessing now, right, is as a result of what? Innovative thinking. And the Gold Board has been the tool that we have deployed to achieve those results.”
Mr Agalga said the probe should begin as soon as possible.
“As early as possible. As early as possible,” he said.
He added: “Let’s satisfy the curiosity of all, so the matters are beyond doubt.”
Source:Fiilafmonline/JoyNews
