IMANI Africa Vice President Bright Simons has made startling allegations against the ECOWAS Bank for Investment and Development (EBID).

He claimed the institution deliberately misled the public regarding the controversial Black Volta gold deal.

The policy analyst made these claims during an appearance on JoyNews' Newsfile program on Saturday.

Simons highlighted what he finds as troubling details about EBID's involvement in the $100 million deal between Engineers & Planners (E&P) and Azumah Resources, despite Azumah having terminated the agreement months earlier.

.@BBSimons strongly believes that the ECOWAS Bank were colluding to disinform the public in the Black Volta Gold deal. #Newsfile pic.twitter.com/B2co3f2Afi

— JoyNews (@JoyNewsOnTV) July 12, 2025

The controversy centers on EBID's participation in a high-profile signing ceremony on July 7, 2025, even though Azumah Resources had officially terminated its agreement with E&P in December 2024 due to unmet financial obligations.

Mr Simons questioned why EBID would endorse and fund what he describes as a shady transaction.

He suggested that the bank either failed in its due diligence or knowingly participated in misleading stakeholders.