The Ghana Gold Board (GoldBod) has dismissed suggestions of a rift with the Bank of Ghana (BoG) over the exit of Governor Dr. Johnson Pandit Kwasi Asiama from its Board.
The Board says a wrong impression is being created following Dr Asiama’s disclosure that he resigned from the GoldBod board about five months earlier.
According to a Facebook post shared on Monday, September 28, 2026, GoldBod said the Governor made the disclosure at the Bank of Ghana’s latest Monetary Policy Committee meeting on Thursday, September 24, 2026, where he said he no longer attended GoldBod board meetings.
His comments followed questions about his membership of the board and concerns raised by the New Patriotic Party (NPP) over a possible conflict of interest arising from his roles at the two institutions.
GoldBod, however, said Dr Asiama’s exit should be understood within the provisions of the Ghana Gold Board Act, 2025 (Act 1140), which allows the BoG Governor to nominate a representative to the board.
According to GoldBod, Dr Asiama initially chose to serve personally on the board after the establishment of the institution.
However, because of his workload, he wrote to the GoldBod Board on May 11, 2026, nominating the BoG’s Second Deputy Governor, Matilda Asante-Asiedu, to represent him.
Section 4(e) of Act 1140 provided for the GoldBod Board to 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.”
The Bank of Ghana Governor similarly explained at the MPC engagement that the law did not require him personally to sit on the board and that the central bank could be represented by another official of the appropriate rank.
GoldBod said the arrangement involving Dr Asiama was not unusual, pointing to similar changes in representation by other members of the board.
It said the Minister of Finance, Dr Cassiel Ato Baah Forson, nominated Deputy Finance Minister Thomas Nyarko Ampem to represent him on the board from the outset because of his schedule.
The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, initially served on the board personally but subsequently nominated the Ministry’s Chief Director, Marcus Haligah, in January 2026.
GoldBod said these changes demonstrated that the Act allowed the designated office-holders to use qualified representatives where they were unable to participate personally in board activities.
It said the fact that the Governor no longer personally sat on the board “did not mean that there is any ongoing rot at the GoldBod”, adding that there was also no fight between the BoG and GoldBod.
Instead, the institution said, Dr Asiama simply exercised the option provided under Act 1140 by nominating his Second Deputy Governor to represent him.
Meanwhile, the GoldBod has severed it previous financing regime where the BoG provided funds for its gold purchases.
The BoG has confirmed that it ended its previous financing arrangement with GoldBod effective July 1, 2026, with the government subsequently assuming responsibility for funding the activities.
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