Bank of Ghana Governor Dr Johnson Pandit Asiama has appointed Matilda Asante-Asiedu, the central bank’s Second Deputy Governor, to represent the Bank of Ghana on the Ghana Gold Board (GoldBod). The move was confirmed in a letter dated May 11, 2026, in which Dr Asiama authorised Mrs Asante-Asiedu to attend and fully participate in GoldBod board meetings on his behalf starting the same day.
The letter also gives her the authority to represent the bank’s interests and exercise the rights and responsibilities tied to being a board member. Dr Asiama requested that the GoldBod board extend the necessary courtesies to Mrs Asante-Asiedu to enable her to carry out the assignment effectively.
This appointment comes amid questions about Dr Asiama’s personal membership on the GoldBod board and concerns about possible conflicts of interest. The issue was raised publicly by former Finance Minister and Karaga MP Dr Mohammed Amin Adam, who asked if Dr Asiama’s board role might conflict with the Bank of Ghana’s past financing of GoldBod’s gold purchases.
The Bank of Ghana ended its pre-financing of GoldBod’s gold purchases from July 1, 2026, a decision that followed discussions on how the state-owned gold trading institution would take on a larger role in gold purchase and foreign exchange intermediation arrangements.
Dr Asiama has said he resigned from GoldBod’s board about five months ago and no longer attends its meetings. He explained that the Ghana Gold Board Act, 2025 (Act 1140), requires the Bank of Ghana to have a representative on the GoldBod board but does not require the Governor personally to be that representative.
By appointing Mrs Asante-Asiedu, Dr Asiama maintains the central bank’s presence on the GoldBod board while stepping back from direct involvement. This move addresses concerns raised about the Governor’s dual role amid the central bank’s changing relationship with GoldBod.
The Ghana Gold Board Act, enacted the previous year, formalised the Bank of Ghana’s involvement on GoldBod’s board to ensure regulatory oversight over the state gold trading entity. It also set the framework for GoldBod’s operations in the gold market and its interaction with the central bank on foreign exchange matters.
Mrs Asante-Asiedu’s appointment signals a shift in how the Bank of Ghana manages its governance role on the GoldBod board. While the Governor retains overall responsibility, delegating board membership to the Second Deputy Governor creates distance between the central bank’s leadership and the gold trading institution’s operations.
The decision follows months of public scrutiny over the relationship between the Bank of Ghana and GoldBod, particularly given the central bank’s prior role financing GoldBod’s gold purchases. This financing arrangement ended in July 2026, with GoldBod now taking on more responsibilities in gold purchase and foreign exchange dealings.
Dr Asiama’s letter to the GoldBod board emphasised the importance of supporting Mrs Asante-Asiedu’s role. The Bank of Ghana’s representation on the board remains a legal requirement, but the Governor’s personal participation is no longer mandatory under the Act passed in 2025.
As the central bank adjusts its involvement with GoldBod, the appointment of Mrs Asante-Asiedu ensures continuity of oversight while allowing Dr Asiama to focus on the Bank of Ghana’s broader mandate. The move may ease concerns from lawmakers and stakeholders about conflict of interest and governance transparency between the two institutions.
According to Joy Online.
