The Centre for Policy Scrutiny (CPS) has backed calls for an independent investigation into the reported US$1.7 billion losses associated with Ghana’s Domestic Gold Purchase Programme (DGPP).

In a press release, the Centre described the reported loss, estimated at approximately GH¢22 billion, as a matter of significant public interest requiring a comprehensive examination of the programme, its implementation and the financial exposure arising from it.

The CPS said it supports calls by concerned Ghanaians and various groups for an independent inquiry into the circumstances surrounding the reported losses.

The Centre also took note of a fresh motion filed by the Minority in Parliament seeking an investigation into the matter.

According to the CPS, it welcomes the initiative and supports Minority Leader Alexander Afenyo-Markin’s call for the establishment of an Ad Hoc Committee to investigate the reported losses.

The Centre said the proposed inquiry must establish the exact nature and source of the reported losses. It wants the investigation to examine the transactions that generated the losses, the institutions involved, the financing arrangements underpinning the programme and the basis upon which the reported figures were calculated.

The CPS further called for a detailed examination of the respective roles played by the Bank of Ghana (BoG) and GoldBod in the implementation of the Domestic Gold Purchase Programme.

It said the investigation should determine how the responsibilities, financial exposures and transactions of the two institutions were accounted for in relation to the programme.

Beyond establishing the reported financial loss, the Centre wants Parliament to assess whether the DGPP has delivered value that is commensurate with the resources committed to it.

It also wants the broader impact of the programme on Ghana’s foreign-exchange reserves and public finances to be examined.

The Centre for Policy Scrutiny stressed that any investigation must be transparent, evidence-based and bipartisan.

It said the proposed committee should rely on audited accounts, transaction records, contracts and other relevant documentation to establish the facts surrounding the reported losses.

According to the CPS, the parliamentary process presents an important opportunity to resolve competing claims about the reported US$1.7 billion losses and strengthen accountability in the management of Ghana’s gold and foreign-exchange resources.

The Centre is urging Parliament to proceed with the investigation and ensure that its eventual findings provide clear answers to four key questions: what happened, why it happened, who bears responsibility, and what measures are required to prevent a recurrence.

The CPS also raised concerns about the current design of the Domestic Gold Purchase Programme, describing it as “too generous” and arguing that this makes losses inevitable.

The Centre therefore recommended a redesign of the programme to minimise costs and optimise its benefits, warning that the marginal benefits of the programme will not remain positive indefinitely.

The press release was signed by Dr Adu Owusu Sarkodie, Executive Director of the Centre for Policy Scrutiny.

Press Release – CPS BACKS CALLS FOR INVESTIGATION INTO REPORTED $1.7BN DGPP LOSSES

The Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi-Boasiako, popularly known as Chairman Wontumi, has announced his decision to withdraw from the party’s upcoming national elections.

In a statement dated August 24, 2026, Chairman Wontumi said the decision followed several nights of prayer, sober reflection and consultations with his family, legal team, party elders, campaign team and trusted supporters.

He described the decision as painful, saying his personal circumstances should not become an additional burden on the NPP at a time when the party is working to rebuild following its electoral defeat.

“There are moments in the life of a man when the heart wants to continue, but duty demands sacrifice,” he said, adding that he had reached a point where he had to put aside his personal ambition to protect the party he considers his political family.

According to Chairman Wontumi, his decision was not motivated by a loss of interest in the NPP or its cause. Rather, he said he did not want his current situation to distract the party from what he described as the difficult work of rebuilding and preparing for the political battle ahead.

He recalled his years of service to the party, saying he had travelled to remote communities and stood with the NPP’s grassroots supporters in both victory and defeat.

He said he had served the party with his voice, strength, resources and entire heart, describing the NPP as more than a political organisation to him.

“The NPP is not merely a political party to me. It is my family. It is my home. It is a cause to which I have dedicated a significant part of my life,” he stated.

Chairman Wontumi acknowledged the disappointment his withdrawal could cause among his supporters across all 16 regions.

He said many supporters had opened their homes and hearts to him, travelled long distances to meet him and continued to support him even during difficult and dangerous periods.

He also acknowledged supporters who, according to him, had cried, fasted and prayed for him, as well as those who had endured ridicule, intimidation and personal attacks because of their belief in him.

He assured them that he remained aware of their support and prayers, saying his current circumstances could restrict his physical movement but could not sever his connection with them or weaken his faith in God.

Wontumi also expressed gratitude to his campaign team, coordinators, constituency and regional executives, Members of Parliament, former government appointees, communicators, electoral-area coordinators, polling-station executives, youth and women’s groups, volunteer movements and members of the diaspora.

He said their sacrifices, encouragement and prayers would remain with him.

Despite withdrawing from the NPP national elections, Chairman Wontumi insisted that his decision should not be interpreted as surrender.

He maintained that he remained committed to the pursuit of truth and justice and said he continued to believe that justice would prevail at the appointed time.

“I have not surrendered, and I will never surrender in the pursuit of truth and justice,” he said.

He explained that his decision was intended to prevent his personal circumstances from becoming a source of distraction, division or additional pressure on the NPP.

He further reminded his supporters that no individual, including himself, was bigger than the party.

Chairman Wontumi appealed to his supporters not to allow their disappointment over his situation to affect their commitment to the NPP.

He specifically urged them not to insult anyone in his name, attack any aspirant because of him or abandon the party because he was going through what he described as a difficult season.

“If you truly love me, then remain loyal to the tradition I have spent my life serving,” he said.

A major part of Chairman Wontumi’s message was his appeal to NPP supporters to remain firmly behind the party’s leader, Dr Mahamudu Bawumia.

He said Dr Bawumia needed the prayers, loyalty and total support of party members as he worked to rebuild the NPP.

According to him, the party’s leader could not rebuild the organisation alone and would require the collective efforts of constituencies, polling-station executives, communicators, young people and other committed members of the party.

He therefore urged NPP members to put aside bitterness and close their ranks to create a united, disciplined and formidable party capable of returning to power.

“Whatever pain we feel today must never be allowed to destroy the greater battle ahead,” he said.

Chairman Wontumi said his withdrawal represents only one chapter in his life and not the end of his political journey.

He thanked those who had stood by him and prayed for him, while also saying he held no bitterness towards people who disagreed with him.

He reaffirmed his loyalty and continued service to the NPP, describing his withdrawal as a painful pause rather than a goodbye.

“This is not goodbye. It is not the end of the journey. It is only a painful pause in a much greater story that God Himself is still writing,” he stated.

He encouraged his supporters to remain strong, united and loyal to the NPP and to continue supporting Dr Bawumia.

Chairman Wontumi concluded by saying that although his body may be confined, his heart remains with his supporters and the party.

He expressed hope that, if it was the will of God, he would meet his supporters again “not in sorrow, but in joy; not in defeat, but in victory.”

“The battle is still the Lord’s,” he said.

The statement was signed on his behalf by Ewuradjoa Coleman, Director of Communications & Media.

STATEMENT ON THE NPP NATIONAL ELECTIONS

The New Patriotic Party (NPP) has accused the government of attempting to divert public attention from the reported US$1.7 billion loss under the Domestic Gold Purchase Programme by attacking individuals demanding accountability.

Speaking to journalists on Tuesday, August 25, 2026, the NPP National Organiser said that instead of providing detailed responses to questions raised by the Parliamentary Minority, government officials had resorted to insults and personal attacks.

He specifically criticised Sammy Gyamfi, whom he accused of having a record of making false claims and using political attacks to divert attention from substantive issues.

The NPP official cited several previous controversies involving claims allegedly made by Gyamfi, including a 2020 allegation concerning a purported US$40,000 bribe involving former President Nana Addo Dankwa Akufo-Addo.

He argued that the allegation was later challenged after the full footage showed that the money was a campaign donation in Ghana cedis made in 2016, before Akufo-Addo became president.

He also cited claims concerning the ownership of a company known as UPTOWN, alleging that fact-checking and company records did not establish ownership links to then-Vice President Dr Mahamudu Bawumia.

The NPP organiser further referred to a 2021 parliamentary controversy in which Gyamfi criticised members of the NDC parliamentary leadership over their voting decisions, arguing that the episode demonstrated what he described as a pattern of political attacks.

He said the government’s response to the US$1.7 billion issue should have been based on documents and evidence rather than insults.

He also criticised the use of the Jubilee House platform for attacks on elected Minority representatives, arguing that the Presidency belongs to all Ghanaians and should be used to promote accountability and decorum.

According to him, the central question remains unresolved: how did Ghana incur a reported US$1.7 billion loss under the Domestic Gold Purchase Programme?

He said attempts to shift the debate toward personalities would not stop the NPP from demanding answers.

The party has therefore thrown its full support behind the Minority Caucus, led by Alexander Afenyo-Markin, and urged the caucus to use parliamentary questions, committee hearings, requests for documents and other lawful procedures to pursue the matter.

The NPP National Organiser said the party would continue pressing for answers until the circumstances surrounding the reported loss are fully explained and subjected to public scrutiny.

NPP National Organiser Henry Nana Boakye has called on the Minority in Parliament to intensify efforts to uncover the circumstances surrounding the reported US$1.7 billion loss linked to Ghana’s Domestic Gold Purchase Programme (DGPP).

Speaking to journalists on Tuesday, August 25, 2026, Nana Boakye said the New Patriotic Party (NPP) would not back down from its demand for accountability until all questions surrounding the reported loss are fully answered and subjected to public scrutiny.

“We are not backing off. Not now, not tomorrow, not until every question is answered in full, and in public, and under proper scrutiny,” he said.

He urged the Minority Leader and members of the NPP parliamentary caucus to make use of every available parliamentary procedure to demand explanations from the government and relevant institutions involved in the programme.

According to him, Parliament must deploy all appropriate mechanisms, including parliamentary questions, committee hearings, requests for documents, order papers and points of order, to establish what happened.

“Use every relevant law in the books, every question on the floor of Parliament, every committee hearing, every request for documents, every order paper, every point of order,” Nana Boakye said.

He also urged the Minority to continue pursuing the matter in the public domain to ensure that Ghanaians receive detailed explanations about the reported loss.

“Fight for the people of Ghana in the court of public opinion as well. Fight until the Ghanaian people receive all the answers they deserve—in writing, under oath if necessary,” he added.

The NPP’s position follows the reported assessment by the International Monetary Fund (IMF) of a US$1.7 billion loss associated with the Domestic Gold Purchase Programme.

The party says the reported loss raises concerns about the management of transactions under the programme and its implications for public finances.

Nana Boakye maintained that the NPP would continue using Parliament and other appropriate channels to pursue answers on the matter.

Ghana is set to adopt stricter financing standards for development projects as the government seeks to protect the country’s debt position and avoid a repeat of the economic pressures that culminated in the 2022 debt crisis.

Finance Minister Dr Cassiel Ato Forson said government would no longer contract loans merely because funding was available, insisting that proposed projects must demonstrate clear economic value before receiving financing.

“Ghana will now proceed with discipline. We will not borrow simply because financing is available,” Dr Forson stated.

He explained that projects financed through government’s cooperation with external partners would be subjected to greater scrutiny, with emphasis placed on their ability to contribute meaningfully to economic growth.

Under the approach, projects must be economically justified, transparently procured and capable of generating revenue, creating jobs, increasing exports, improving productivity or reducing costs.

Dr Forson specifically cited major infrastructure investments such as roads, railways, power plants and industrial enclaves, stressing that such projects must produce measurable benefits for the economy rather than add to the country’s debt burden without corresponding returns.

“Any road, railway, power plant, industrial enclave or other infrastructure financed through this cooperation must improve productivity, create jobs, increase exports and strengthen Ghana’s ability to repay its obligations,” he said.

The Finance Minister also disclosed that government intends to broaden the sources from which it secures development financing while maintaining strict controls over public debt.

“We will diversify our financing sources, protect debt sustainability and avoid a return to the conditions that led to the 2022 debt crisis,” he stated.

Dr Forson made the remarks during the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation.