The Centre for Democratic Movement has called on the President of the Republic to immediately direct the Chief Executive Officer of GoldBod, Sammy Gyamfi, to step aside to allow for an independent investigation into GoldBod and the Gold-for-Reserves programme.

According to CDM, the most alarming disclosure is the admission that GoldBod is projected to incur GHS3.3 billion in losses purely from trading activities. 

“This is not an accounting revaluation or an exchange-rate adjustment; this is a straightforward trading loss,” the group said.

CDM questioned how a trading model that guarantees losses was approved and why such information was not disclosed earlier. 

“Who approved a trading model that guarantees losses, and who benefited from these transactions?” the statement asked.

The group said allowing the GoldBod CEO to remain in office under such circumstances compromises public confidence and undermines the credibility of any investigation. 

“In all serious democracies, stepping aside is a minimum standard of responsibility, not an admission of guilt,” CDM stated.

CDM further demanded a full forensic audit of GoldBod, publication of all gold trading contracts, and parliamentary scrutiny of officials involved. 

“Ghana’s gold resources are a sacred public trust,” the group concluded, “and where credibility has been compromised, responsibility must follow.”