Minority Leader in Parliament, Osahen Alexander Kwamena Afenyo-Markin, has disclosed plans to pursue legal action over what he describes as false and defamatory statements made against him following his calls for an investigation into the reported GH¢22 billion Goldbod loss linked to the Bank of Ghana’s Domestic Gold Purchase Programme.
Mr Afenyo-Markin said a series of personal attacks directed at him over the past week appeared intended to damage his reputation and divert public attention from the substantive issues he has raised about the Domestic Gold Purchase Programme, the Bank of Ghana and the Ghana Gold Board (GoldBod).
He, however, insisted that the attacks would not deter him or the Minority Caucus from carrying out Parliament’s constitutional oversight responsibilities.
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“As Minority Leader in Parliament, my responsibility is to help Parliament discharge its constitutional oversight function. My actions have been guided solely by that responsibility. I have neither acted from any improper motive nor conducted myself inappropriately in the performance of my duties,” he said.
A statement issued by the Minority Leader on Saturday said he remains focused on securing a comprehensive parliamentary inquiry into the reported losses, stressing that the Caucus will continue to pursue the necessary parliamentary processes to establish how the reported US$1.7 billion loss, equivalent to approximately GH¢22 billion, arose.
Mr Afenyo-Markin argued that regardless of which institution’s balance sheet ultimately records the loss, the funds involved are public resources and therefore require accountability.
“Whichever institution’s balance sheet carries that figure, it represents public money,” he said.
He said Parliament must establish the institutions and individuals involved in the transactions and determine how the reported loss was incurred.
Among the key questions Mr Afenyo-Markin wants answered are the identities of the off-takers who purchased the gold, the discounts applied to their purchases, who authorised those discounts and the fees generated from the transactions.
He is also demanding a detailed breakdown of the reported US$1.7 billion Goldbod loss to establish how much was attributable to foreign-exchange differentials and how much resulted from the prices at which gold was purchased and subsequently sold.
The inquiry, he said, should further examine the considerations that informed management decisions surrounding the transactions under the Domestic Gold Purchase Programme.
“These questions belong in the public record,” Mr Afenyo-Markin said.
He added that the Minority Caucus would continue publishing its claims, sources and supporting information to allow the public to independently scrutinise the evidence.
The development comes amid an escalating political dispute over the financial performance of the Bank of Ghana’s Domestic Gold Purchase Programme and the respective roles of the central bank and GoldBod.
The Minority has intensified its calls for parliamentary scrutiny of the reported losses, while GoldBod officials have rejected claims that the institution should be held responsible for losses recorded by the Bank of Ghana.
Mr Afenyo-Markin said the Minority’s objective is to establish the facts surrounding the transactions and ensure that public funds are properly accounted for.
He maintained that the parliamentary inquiry should provide Ghanaians with clear answers on the transactions, pricing, discounts, foreign-exchange effects, fees and decision-making processes associated with the programme.