The Member of Parliament for Tano North and a member of Parliament’s Finance Committee, Dr Gideon Boako, has raised serious concerns over the financial operations of the Ghana Gold Board (Goldbod), questioning how the agency has managed to spend nearly $3 billion despite being allocated just $279 million in the 2025 budget.

Speaking in an interview with JoyNews on Wednesday, 21 May, Dr Boako demanded greater transparency and accountability from the institution, calling on the government to clarify the source of the excess funding.

“In the 2025 budget, government allocated $279 million to Goldbod. However, current figures indicate that the Board has spent about $3 billion already. We need to know where the rest of the money is coming from,” he stated.

He emphasised that such a vast spending gap could not be overlooked and insisted that Parliament must be formally briefed on the matter.

“This is a public institution, and we cannot allow this level of expenditure to go unaccounted for. Ghanaians deserve answers—whether it’s from donor funding, domestic borrowing, or gold-backed arrangements, we must know.”

Dr Boako further cautioned that continued opacity in Goldbod’s financial dealings could erode public confidence and raise suspicion about the true purpose of the agency’s activities.

“We are not against strategic use of resources, but we must be clear on how public agencies operate, especially when the sums involved are this significant,” he added.