The Member of Parliament for Tano North, Dr. Gideon Boako, has raised serious concerns over the sale of 18 tonnes of Ghana’s gold reserves, alleging that the transaction may have been criminally motivated.
During the State of the Nation Address (SONA) debate in Parliament on March 4, Dr. Boako described the sale as deeply troubling and potentially harmful to the national interest.
He questioned the rationale for selling such a large quantity of gold when the nation’s foreign exchange reserves were reportedly adequate, calling the move economically illogical.
Highlighting the concerning nature of the transaction, the MP noted that selling gold at $3,500 per ounce, only to plan repurchasing it at $5,500 per ounce within months, suggests either gross mismanagement or possible manipulation. He warned that if these allegations are confirmed, it would constitute a serious breach of public trust.
Dr. Boako called for full transparency, urging authorities to disclose who purchased the 18 tonnes of gold and whether it has been exported. He emphasized that if the gold remains in the country, the identities of the buyers must be made public.
Reiterating his demand for a bipartisan parliamentary inquiry, he stressed that decisive action is needed to uncover the facts.
“Who bought those 18 tonnes of gold?” he asked. “If it has not been shipped out of the country, we must know who bought it.” Dr. Boako concluded that only a comprehensive and independent investigation can restore public confidence in the management of Ghana’s strategic reserves.
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