The Ghana Gold Board (GoldBod) has clarified that Bank of Ghana (BoG) Governor Dr Johnson Asiamah's decision to stop serving personally on its governing board does not signify a rift between the two institutions. According to GoldBod, the Governor's decision to nominate his Second Deputy, Matilda Asante-Asiedu, to represent him on the Board was due to his busy schedule. This arrangement is consistent with the GoldBod Act, 2025 (Act 1140).
The GoldBod Act allows the BoG Governor to either serve on the Board personally or nominate a representative. Section 4(e) of the Act provides that the governing body of GoldBod shall 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." This provision gives the Governor the flexibility to choose a representative.
GoldBod explained that similar arrangements have been made by other government officials serving on the Board. The Finance Minister, for instance, nominated Deputy Finance Minister Thomas Nyarko Ampem to represent him on the Board due to his busy schedule. The Lands and Natural Resources Minister, Emmanuel Armah-Kofi Buah, initially served on the Board personally but later nominated the Ministry's Chief Director, Marcus Haligah, as his representative in January 2026.
Dr Asiamah opted to nominate his representative on May 11, 2026, when he formally wrote to the Board nominating Mrs Asante-Asiedu. GoldBod emphasized that the Governor's decision should not be interpreted as evidence of problems within the institution or a rift between GoldBod and the Bank of Ghana. The institution described such suggestions as "completely false" and said they reflected a misunderstanding of the GoldBod Act and the circumstances surrounding the Governor's decision.
GoldBod further stressed that it continues to work closely with the Bank of Ghana, describing the institution as a key anchor of foreign exchange generation for the country. The GoldBod is currently the main anchor of foreign exchange generation for Ghana, and thus, works very closely with the Bank of Ghana on a day-to-day basis. This close collaboration is essential for the country's economic stability.
The clarification by GoldBod comes after some individuals created a wrong impression that the Governor's decision to stop serving personally on the Board indicated a fight between the BoG and the GoldBod. The Governor had stated at the last MPC meeting that he "resigned" from the governing Board of the GoldBod five months ago. However, GoldBod's statement has set the record straight, emphasizing that the Governor's decision was simply a matter of representation due to his busy schedule.
In conclusion, GoldBod's statement has dismissed suggestions of a rift between the institution and the Bank of Ghana. The Governor's decision to nominate a representative to the Board is a normal arrangement, and the institution continues to work closely with the Bank of Ghana. The GoldBod Act provides the flexibility for the Governor to choose a representative, and this should not be seen as a sign of disagreement between the two institutions.
Key points
- GoldBod dismisses alleged rift with BoG over Governor's exit from board.
- The arrangement is consistent with the GoldBod Act, 2025 (Act 1140).
- GoldBod continues to work closely with the Bank of Ghana.
