‘I resigned five months ago – BoG Governor Asiama explains GoldBod Board exit

Bank of Ghana (BoG) Governor Dr Johnson Asiama says he resigned from the Board of Directors of the Ghana Gold Board (GoldBod) about five months ago and no longer participates in its meetings.

Dr Asiama said the Ghana Gold Board Act, 2025 (Act 1140), does not require the Bank of Ghana Governor personally to serve on the GoldBod Board.

His comments follow concerns raised by the New Patriotic Party (NPP) over his membership of the GoldBod Board and whether his dual roles could create a conflict of interest.

Former Finance Minister and NPP MP for Karaga, Dr Mohammed Amin Adam, raised the issue during an NPP press briefing on September 1.

The concerns focused on the relationship between the central bank and GoldBod, including the Bank of Ghana’s involvement in financing GoldBod’s gold-purchasing operations and reported losses associated with the domestic gold purchase programme.

Dr Asiama, however, said he had already stepped down from the board.

“I resigned from the GoldBod Board about five months ago or so. I do not attend board meetings at the GoldBod at all,” Dr Asiama told journalists.

He explained that although the law provides for the Bank of Ghana to have representation on the GoldBod Board, the representative need not be the Governor.

According to Dr Asiama, the legislation allows either the Governor or another Bank of Ghana official of the required rank to represent the central bank.

“The law that governs the activities of the GoldBod, there’s a provision there for the Bank of Ghana to be represented either by the Governor or any other official up to the rank of a director,” he said.

He stressed that his personal presence on the board is therefore not a statutory requirement.

“It does not necessarily need the Governor to be there.”

The explanation comes amid broader scrutiny of the relationship between GoldBod and the central bank, particularly regarding the financing of gold purchases under the domestic gold purchase programme.

Dr Asiama’s comments indicate that while the Bank of Ghana is required to have representation on the GoldBod Board, the responsibility can be assigned to another official rather than the Governor.