We need to know where the rest is coming from – Boako demands answers over Goldbod’s $3bn spend
The Member of Parliament for Tano North, Dr. Gideon Boako, is demanding transparency from the Ghana Gold Board (Goldbod) following revelations that the agency has spent nearly $3 billion, far beyond its 2025 budget allocation of $279 million.
Speaking in an interview with JoyNews, Dr. Boako, who also serves on Parliament’s Finance Committee, expressed alarm over the staggering financial figures, describing the situation as one that requires immediate public accountability.
“In the 2025 budget, the government allocated $279 million to Goldbod. However, current figures indicate that the Board has spent about $3 billion already. We need to know where the rest of the money is coming from,” he said.
According to the lawmaker, such high levels of spending by a public institution must not go unchecked.
He insisted that Ghanaians have the right to know whether the additional funds are being sourced from donor support, domestic borrowing, or gold-backed financial arrangements.
“This is a public institution, and we cannot allow this level of expenditure to go unaccounted for. Ghanaians deserve answers—whether the funds are from donor support, domestic borrowing, or gold-backed arrangements, we must be informed,” he emphasized.
While acknowledging the importance of strategic investments in the natural resources sector, Dr. Boako stressed that fiscal prudence must guide such efforts, especially when billions are involved.
“We are not against the strategic use of resources, but we must be clear on how public agencies operate, especially when the sums involved are this significant,” he added.
