Gideon Boako questions Goldbod’s $3bn spending overrun

Dr. Gideon Boako, the MP for Tano North, has raised concerns about the Ghana Gold Board (Goldbod). He is also a member of Parliament’s Finance Committee. Dr. Boako questioned how Goldbod spent nearly $3 billion. This amount is much higher than its $279 million budget for 2025.

In an interview with JoyNews on May 21, he called for transparency and accountability from Goldbod. He urged the government to explain where the extra funds came from.

“The government allocated $279 million to Goldbod in the 2025 budget,” he said. “However, current figures show that the Board has already spent about $3 billion. We need to know where this money is coming from.”

He stressed that such a large spending gap cannot be ignored. He insisted that Parliament must receive a formal briefing on this issue.

“This is a public institution,” he stated. “We cannot allow this level of expenditure to go unaccounted for. Ghanaians deserve answers—whether it’s donor funding, domestic borrowing, or gold-backed arrangements.”

Dr. Boako warned that lack of clarity in Goldbod’s finances could harm public trust. It may also raise suspicions about the agency's true purpose.

“We support strategic use of resources,” he said. “But we must be clear on how public agencies operate, especially with such significant sums involved.”