By Amoako Kwame Karaga Member of Parliament and former Finance Minister, Dr Mohammed Amin Adam, has challenged GoldBod’s reported GH¢5.45 billion surplus for 2025, arguing that the figure does not accurately represent the institution’s underlying trading performance. According to Dr Amin Adam, GH¢4.54 billion, representing about 81.7% of the reported surplus, was a government capital [...]
By Amoako Kwame
Karaga Member of Parliament and former Finance Minister, Dr Mohammed Amin Adam, has challenged GoldBod’s reported GH¢5.45 billion surplus for 2025, arguing that the figure does not accurately represent the institution’s underlying trading performance.
According to Dr Amin Adam, GH¢4.54 billion, representing about 81.7% of the reported surplus, was a government capital injection credited to GoldBod’s accounts on December 30, 2025—just a day before the close of the financial year.
Speaking at a press conference on Tuesday, September 1, he argued that the amount, which GoldBod described in its financial statements as revolving trade capital, should not have been treated as revenue.
“Standard public sector and international accounting rules treat money put in by an owner as capital, not revenue, and GoldBod’s own statements describe it as revolving trade capital,” he said.
Dr Amin Adam questioned the credibility of GoldBod’s reported surplus, arguing that the government injection should not be used to portray the institution as having generated significant profits from its operations.
“It cannot be capital when that is convenient and revenue when there is something to celebrate,” he stated.
He further argued that of the remaining GH¢909.9 million, approximately GH¢827 million constituted fee income, largely made up of service charges paid to GoldBod by the Bank of Ghana (BoG) in connection with the same gold purchase operations.
“Almost all of GoldBod’s real income was therefore a commission charged on a programme that lost the country GH¢22 billion,” Dr Amin Adam said.
He also questioned how GoldBod could record a surplus while the institution whose funds were used to finance its gold purchasing operations reported substantial losses.
“How does a gold buying operator record a surplus while the institution whose funds it is using records a loss?” he asked.
Dr Amin Adam is therefore calling for GoldBod’s 2025 financial statements to be restated, with the GH¢4.54 billion
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