The Institute of Economic Research and Public Policy (IERPP) has accused the Ghana Gold Board (GoldBod) of hiding its quarterly trading reports, sparking fresh pressure over transparency. The think tank is demanding answers from GoldBod, citing the Ghana Gold Board Act, 2025 (Act 1140), which requires the Board to publish reports on its operations, revenue, contracts, expenditure, and responsible sourcing.
GoldBod Under Fire Over Missing Reports
The IERPP made the allegations in a statement issued on Monday, August 25, 2026, after discovering that GoldBod's quarterly trading reports had been removed from its website. The think tank's Executive Director, Prof. Isaac Boadi, signed the statement, which pointed out that Section 42 of the Ghana Gold Board Act requires GoldBod to ensure access to these reports. "Section 42(2) requires GoldBod to ensure access to those reports," the statement said. "The law does not merely require GoldBod to upload reports; it requires meaningful public access to them."
The IERPP is not accusing GoldBod of wrongdoing, but it has raised legitimate questions about the disappearance of the reports, given the Board's significant public financial interests and its role in managing Ghana's strategic gold reserves. The think tank wants GoldBod to explain who authorised the removal of the reports, when it occurred, and why.
IERPP Demands Answers from GoldBod
The IERPP has made six demands of GoldBod, including restoring all previously published quarterly reports and establishing a permanent public archive. The think tank also wants GoldBod to explain any deletion, withdrawal, amendment, or replacement of reports and to publish original and revised versions where figures have changed, together with reasons for the changes. Furthermore, the IERPP is demanding that GoldBod provide the publication and removal dates for each report, ensure full disclosure under Section 42, and disclose off-taker fees, trading margins, discounts, assay charges, and other transaction costs for independent scrutiny.
The IERPP argues that GoldBod cannot demand compliance and reporting from licensed gold buyers while making its own legally mandated reports difficult to access. "Where public resources and national gold are involved, citizens must be able to understand the transactions, prices, contracts, fees, discounts, trading margins, and ultimately who bore the risks and costs," the statement said.
Public Scrutiny and Accountability
The think tank warns against allowing GoldBod to "become a black box," noting that gold is one of Ghana's important sources of foreign exchange and that the Board's activities have implications for exports, reserves, the Bank of Ghana, and public finances. "Public gold requires public scrutiny. Public money requires public accountability," the IERPP said. The think tank adds that Section 42 was enacted specifically "for the purpose of transparency and accountability" and argues that the obligation should not be treated as a temporary website exercise.
The IERPP's demands come at a time when Ghana's gold industry is under increasing scrutiny, with many calling for greater transparency and accountability in the sector. As the think tank points out, the Ghana Gold Board Act, 2025 (Act 1140), was enacted specifically to ensure transparency and accountability in the industry. Now, it remains to be seen whether GoldBod will comply with the IERPP's demands and restore public access to its quarterly trading reports.
Source: Joy Online
