The Minority in Parliament has renewed its call for a parliamentary inquiry into the operations of the Ghana Gold Board (GoldBod), citing concerns raised by the World Bank about risks associated with the government’s gold-purchasing programme.

In a statement signed by Jerry Ahmed Shaib, the Minority said the World Bank’s latest Ghana Economic Update described GoldBod-related operations, among other issues, as a “significant and insufficiently monitored risk” to the economy.

The Minority argues that the finding reinforces its concerns over the management of the Domestic Gold Purchase Programme and the losses recorded under the initiative.

According to the statement, the World Bank’s August 2026 10th Ghana Economic Update: Reset for Growth, Sustaining Macroeconomic Recovery and Unlocking Transport for Transformation also raised concerns about how gold reserves acquired through the programme are tracked.

The Minority further cited the report’s identification of GoldBod and delays in reforms as ongoing risks to Ghana’s economic outlook.

It also pointed to broader concerns highlighted in the report, including capital shortfalls among some banks and specialised deposit-taking institutions, financial challenges facing COCOBOD and Ghana’s exposure to fluctuations in international gold prices.

The Minority said the concerns come on the back of findings it attributes to the International Monetary Fund (IMF), which it says estimated that the gold programme recorded losses of more than $1.7 billion in 2025.

The group insists that the focus should be on the management of the programme rather than the original policy idea of using domestic gold purchases to build reserves and support the cedi.

“Weeks ago, we asked simple questions that remain unanswered: Where are the off-takers? What discounts were applied to our gold, and who approved them? What fees changed hands, and who ultimately bore the losses?” the statement said.

The Minority is therefore calling for a full parliamentary inquiry into GoldBod and the Bank of Ghana’s gold operations, including the power to summon officials and demand relevant documents.

It also demands disclosure of the identities of off-takers, discounts, and fees associated with the programme, as well as clarity on whether GoldBod or the Bank of Ghana ultimately bore specific losses.

The Minority further wants government to publicly disclose contingent liabilities linked to the programme and ensure that gold reserves are accounted for under standard reserve reporting.

It is also seeking a clear plan and timeline from government to address the concerns identified by both the IMF and World Bank.

The statement follows the Speaker of Parliament’s admission of a Minority motion seeking scrutiny of the matter, which the group says creates an opportunity for Parliament to pursue further accountability.

The Minority says the World Bank’s findings strengthen its case for a formal parliamentary investigation into the management and financial implications of GoldBod’s operations.