GoldBod explains Asiama’s exit from board, denies rift with BoG

The Ghana Gold Board (GoldBod) has rejected suggestions that Bank of Ghana (BoG) Governor Dr Johnson Pandit Asiama’s decision to stop personally attending its board meetings is a sign of disagreement between the two institutions.

GoldBod said the Governor’s decision to nominate Second Deputy Governor Mrs Matilda Asante-Asiedu to represent him on the board was primarily due to his demanding schedule.

According to the institution, Dr Asiama’s decision should not be interpreted as evidence of tension, disagreement or any internal problems involving GoldBod and the central bank.

In a Facebook post published on Monday, September 28, GoldBod said a wrong impression was being created following comments by Dr Asiama at the Bank of Ghana’s latest Monetary Policy Committee meeting.

At the meeting, the Governor disclosed that he had resigned from the GoldBod board approximately five months earlier.

GoldBod explained that the decision was consistent with the provisions of the Ghana Gold Board Act, 2025 (Act 1140), which gives the BoG Governor the option of serving on the GoldBod board personally or appointing a representative.

Section 4(e) of Act 1140 states that the GoldBod Board shall include:

“The Governor of the Bank of Ghana or a representative of the Governor of the Bank of Ghana not below the rank of a Director nominated by the Governor of the Bank of Ghana.”

GoldBod said Dr Asiama initially chose to serve on the board himself when the institution was established in 2025.

However, it explained that his official responsibilities and schedule subsequently made it necessary for him to nominate a representative.

According to GoldBod, Dr Asiama formally wrote to the board on May 11, 2026, nominating Second Deputy Governor Mrs Matilda Asante-Asiedu to represent him.

The institution stressed that such an arrangement was not unusual and had also been adopted by other government officials serving on the GoldBod board.

GoldBod cited the example of Finance Minister Dr Cassiel Ato Forson, who nominated Deputy Finance Minister Thomas Nyarko Ampem to represent him on the board from the beginning because of his schedule.

It also pointed to the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, who initially served personally on the board before nominating the Ministry’s Chief Director, Marcus Haligah, to represent him in January 2026.

GoldBod therefore dismissed claims that Dr Asiama’s decision to stop attending its board meetings personally was linked to a disagreement between the central bank and the gold-trading institution.

“So you see, the fact that Dr Asiamah no longer sits on the Board of the GoldBod does not mean that there is any ongoing rot at the GoldBod. Neither is there any fight between the BoG and the GoldBod,” the institution stated.

GoldBod maintained that the BoG Governor had simply exercised a power expressly provided for under the Gold Board Act by nominating a qualified representative.

The institution further stressed that the change in board representation had not affected its working relationship with the central bank.

GoldBod said it continues to engage closely with the Bank of Ghana, particularly because of its role in Ghana’s foreign exchange market.

“GoldBod is currently the main anchor of foreign exchange generation for Ghana; thus, it works very closely with the Bank of Ghana on a day-to-day basis,” it said.

Source: Onlinetimes