The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has clarified that the assay fees charged by the institution were not fees created by him or GoldBod, but were approved charges forming part of the board’s operations.

Mr Gyamfi said the fees were subject to the necessary parliamentary approval and applied to gold-buying transactions, rather than being charges imposed specifically on the Bank of Ghana (BoG).

He explained that GoldBod’s role in the process involved assaying and determining the quality and value of gold presented for purchase, for which the approved assay charge was applicable. He stressed that the fee was therefore not an arbitrary charge introduced by the current management of GoldBod.

Speaking on Twitter Spaces on Sunday, August 9, Mr Gyamfi said the assay fees paid to GoldBod were approved by Parliament and formed part of the charges applicable to entities using the board’s services.

“GoldBod only charged BoG assay fees, and this fee went to Parliament, and it was approved, and this was not only the Bank of Ghana that we charged,” he said.

Mr Gyamfi’s comments come amid discussions about the operations and charges associated with GoldBod’s gold-buying activities since the establishment of the institution under the current administration.