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The Speaker of Parliament, Alban Bagbin, has indicated that the House will investigate the reported US$1.7 billion loss under the Domestic Gold Purchase Programme (DGPP), equivalent to approximately GH¢22 billion, to establish the true nature of the transactions.
His comments follow a motion submitted by the Minority Caucus calling for a parliamentary inquiry into the reported loss and the appearance of Ghana Gold Board (GoldBod) Chief Executive Officer, Sammy Gyamfi, before Parliament to account for the transactions.
Speaker Bagbin said the parliamentary inquiry would help settle the ongoing debate over whether the US$1.7 billion figure constitutes an actual financial loss or represents a policy-related cost arising from the implementation of the DGPP.
He disclosed that his office received the Minority’s motion on August 21, 2026, and said he had personally reviewed it and would admit it for consideration by the House.
According to him, Parliament must examine the matter thoroughly to bring clarity to the controversy surrounding the reported figure.
“With the motion they have filed, which was received in my office on the 21st of August, 2026, just three days ago, I have gone through the motion myself and I intend to admit the motion because we have to at least have an end to litigation as to whether it’s a loss or it’s a cost,” he said.
The Speaker stressed that the parliamentary process would provide an opportunity for lawmakers to scrutinise the transactions and determine the facts surrounding the reported amount.
He expressed confidence that the public would be able to assess the outcome of the parliamentary proceedings and draw its own conclusions.
“This House will have the opportunity to go through it. And please, Ghanaians are very intelligent people. They will listen, they will read in between the lines and they will make their decisions,” Mr Bagbin added.
The planned parliamentary scrutiny is expected to bring further attention to the operations of the DGPP and the financial implications of the programme amid the ongoing debate over GoldBod’s reported losses.