Tano North MP and Deputy Ranking Member on Parliament’s Finance Committee, Dr Gideon Boako, has described the reported GH¢22 billion loss associated with the Domestic Gold Purchase Programme (DGPP) as a deliberate profiteering scheme.
The reported loss, which is equivalent to about US$1.7 billion, has triggered intense debate over the management of the country’s gold purchasing operations and the respective responsibilities of GoldBod, the Bank of Ghana and the Ministry of Finance.
Speaking on Adom TV on Monday, August 24, Dr Boako alleged that the programme’s structure was designed to create opportunities for financial gain rather than protect the public purse.
He said the scale of the reported loss demanded a thorough examination of how the programme was implemented and who ultimately benefited.
“The whole thing was a profiteering scheme. It was designed to create the create, and share the same. I call it create the bag, share the bag lutocracy,” he said.
Dr Boako’s comments come amid a public dispute between the parliamentary Minority and GoldBod over the reported DGPP losses.
The disagreement has also involved GoldBod Chief Executive Officer Sammy Gyamfi and Minority Leader Alexander Afenyo-Markin, with both sides challenging each other’s interpretation of the programme’s financial performance and accountability.
