We need to know where the rest is coming from – Boako demands answers over Goldbod’s $3bn spend

Dr. Gideon Boako, the MP for Tano North, is calling for transparency from the Ghana Gold Board (Goldbod). He raised concerns after learning that Goldbod has spent nearly $3 billion. This amount far exceeds its 2025 budget of $279 million.

In an interview with JoyNews, Dr. Boako expressed alarm over these financial figures. He believes this situation requires immediate public accountability.

“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 the rest of the money is coming from.”

He emphasized that high spending by a public institution must be monitored closely. Ghanaians deserve to know if additional funds come from donors, domestic borrowing, or gold-backed arrangements.

“This is a public institution,” he stated. “We cannot allow this level of expenditure to go unaccounted for.”

Dr. Boako acknowledged the importance of strategic investments in natural resources. However, he stressed that fiscal prudence must guide these efforts when billions are involved.

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