Gold-for-Oil programme lacks transparency, will be replaced – Energy Minister

Energy Minister John Abdulai Jinapor has criticized the Gold-for-Oil (G4O) programme, citing a lack of transparency and accountability.

Speaking on Joy News' PM Express, he highlighted concerns about opacity in the initiative, stating that the Auditor General’s report had flagged irregularities.

Jinapor asserted that the new administration plans to discontinue the programme and replace it with a more transparent alternative. He pointed out that accessing information on offshore transactions and company selection processes had been difficult, reinforcing the need for reforms.

While acknowledging that dismantling the system would take time due to parliamentary and legal processes, he emphasized efforts to minimize losses and improve transparency in the interim.

His remarks add to the growing concerns about the programme’s effectiveness and governance.