The Member of Parliament for Tano North, Dr Gideon Boako, has called for a bi-partisan parliamentary inquiry into what he describes as the questionable sale of 18 tonnes of Ghana’s gold reserves.
Speaking in Parliament on Wednesday, March 4, during the debate on the State of the Nation Address (SONA), he raised concerns about the circumstances surrounding the transaction.
Addressing the Speaker, Dr Boako said developments surrounding the sale point to what he termed a “criminally minded attempt to loot the resources of this country”.
He told the House that between September and December 2025, 18 tonnes of Ghana’s gold reserves were reportedly sold, and questioned the rationale behind the decision.
According to him, at the time of the sale, Ghana had excess foreign exchange reserves, making the disposal of the gold unnecessary.
He further argued that the gold was sold at $3,500 per ounce, only for the Finance Minister to later indicate that the country would need to purchase gold at a significantly higher price of 5,500 dollars per ounce.
Dr Boako expressed strong suspicion of insider trading, suggesting that certain individuals within government may have anticipated an increase in global gold prices and taken advantage of the situation.
He alleged that the gold may have been sold cheaply to insiders who now stand to benefit from reselling it to the state at a higher price.
He therefore urged the House to establish a bi-partisan inquiry to investigate the transaction.
“We cannot sit unconcerned when managers of the economy sell 18 tonnes of our gold reserves at a lower price, only to return months later to say we must buy more at a higher price,” he said, insisting that transparency and accountability must prevail.
