$1.7bn GoldBod Loss: Prepare for Parliamentary Probe — Bagbin Tells Sammy Gyamfi
GoldBord Chief Executive Officer Sammy Gyamfi is set to appear before Parliament after Speaker Alban Bagbin formally admitted a Minority motion seeking to summon him over the controversial US$1.7 billion (GH¢22 billion) shortfall recorded under the Domestic Gold Purchase Programme (DGPP).
Bagbin confirmed on Monday that the motion, filed by the Minority Caucus on August 21, 2026, would be admitted for consideration, paving the way for Gyamfi to brief the House on the transactions and answer questions surrounding the reported loss.
The Speaker stressed that the legislature’s scrutiny will not be a witch-hunt but a fact-finding exercise to determine a critical distinction: whether the US$1.7 billion represents an actual financial hemorrhage or a legitimate policy cost incurred in executing the national gold-buying initiative.
“With the motion they have filed, which was received in my office on the 21st of August, 2026, just three days ago, I have gone through the motion myself and I intend to admit the motion because we have to at least have an end to litigation as to whether it’s a loss or it’s a cost,” he said.
While Gyamfi’s summoning is expected to be a key flashpoint, Bagbin assured the public that the full parliamentary process would allow lawmakers to thoroughly dissect the figures, hear from all parties, and deliver clarity on the contentious expenditure.
“This House will have the opportunity to go through it. And please, Ghanaians are very intelligent people. They will listen, they will read in between the lines and they will make their decisions,” he added.
The probe is expected to dominate proceedings in the coming weeks, with both sides of the House gearing up for what promises to be a rigorous examination of the DGPP’s financial performance under Gyamfi’s leadership.
