GoldBod Rejects GH¢1 Billion Overdraft Claim as “False and Malicious”

Accra, August 24, 2026 — The Ghana Gold Board (GoldBod) has rejected a claim that it owes the Bank of Ghana (BoG) an unpaid overdraft of GH¢1 billion, describing the allegation as false and part of what it calls a deliberate smear campaign against the institution.

In a statement issued by its Media Relations Officer, Prince Kwame Minkah, GoldBod said it had taken note of the claim attributed to the Member of Parliament for Tano North, Dr Gideon Boako, concerning an alleged GH¢1 billion overdraft owed to the central bank.

GoldBod strongly denied the allegation, insisting that since its establishment, it has never taken a loan, overdraft or any other debt instrument from the Bank of Ghana or any financial institution.

The institution described the claim attributed to Dr Boako as “contrived” and urged the public to treat it with the utmost contempt.

GoldBod demands retraction

GoldBod has further called on the Tano North MP to retract the allegation and apologise for what the institution considers to be the publication of false information.

The statement was signed by Prince Kwame Minkah, Media Relations Officer of the Ghana Gold Board.

GoldBod’s response comes amid growing public and political discussions surrounding the financial operations and activities of the institution.

Key point

GoldBod’s position is clear: the institution denies owing the Bank of Ghana GH¢1 billion and says it has never contracted an overdraft, loan or other debt facility from the central bank or any financial institution since its establishment.

Note: The above report reflects GoldBod’s position as contained in the statement provided. The statement itself does not provide supporting financial records or documents relating to the underlying allegation.