The Chief Executive Officer of the Social Investment Fund (SIF), Abass Nurudeen, has publicly defended the Ghana Gold Board (GOLDBOD) on the growing public debate over claims of the Board incurring trading losses.
In an interview with Barima Kofi Dawson on Nhyria FM’s “Kroyimunsem” morning show, Nurudeen argued that the criticism directed at the GOLDBOD CEO is politically motivated, alleging that the opposition New Patriotic Party (NPP) is attempting to tarnish his reputation.
International Monetary Fund (IMF) data has indicated that a $214 million operational loss is linked to transactions between the Bank of Ghana (BoG) and the Ghana Gold Board (GoldBod).
But Abass Nurudeen dismissed IMF findings, describing the report as “inaccurate and misleading.”
He contended that the NPP wants to use the IMF report as an agenda to block Sammy Gyamfi from accessing government’s funds earmarked for gold purchases.
“NPP don’t want Sammy Gyamfi to prevent the government’s funds for gold purchases; instead, they prefer him to misuse it so they can pin the financial loss on him. That plan won’t succeed,” he said.
He further explained that Gyamfi’s efforts are causing unease within NPP circles because sustained success at GOLDBOD could diminish Ghana’s reliance on IMF programs and strengthen the cedi.
“The whole point is that Sammy Gyamfi’s work is scaring NPP members. By God’s grace, if he keeps up his hard work at GOLDBOD, Ghana will not go to the IMF again, and the cedi will strengthen to ¢8 per dollar. The NPP knows that will keep them in opposition for a long time,” Nurudeen added.
Source: Francis Mensah
