Amin Adam Challenges GoldBod’s GH¢5.45bn Surplus
Karaga MP and former Finance Minister, Dr Mohammed Amin Adam, has challenged GoldBod’s reported GH¢5.45 billion surplus for 2025, arguing that the figure does not accurately reflect the organisation’s trading performance.
Dr Amin Adam said GH¢4.54 billion, representing 81.7 per cent of the reported surplus, was a government capital injection credited to GoldBod’s books on December 30, 2025, just a day before the financial year ended.
He said the money was described in GoldBod’s accounts as revolving trade capital and should therefore not be presented as revenue.
“Standard public sector and international accounting rules treat money put in by an owner as capital, not revenue, and GoldBod’s own statements describe it as revolving trade capital,” he said.
Dr Amin Adam said GoldBod’s treatment of the money raised questions about the credibility of its reported surplus.
“It cannot be capital when that is convenient and revenue when there is something to celebrate,” he stated.
He further said that of the remaining GH¢909.9 million, about GH¢827 million was fee income, mostly service charges paid to GoldBod by the Bank of Ghana for the same gold purchase operations.
“Almost all of GoldBod’s real income was therefore a commission charged on a programme that lost the country GH¢22 billion,” he said.
Dr Amin Adam questioned how GoldBod could report a surplus while the institution providing the funds recorded a major loss.
“How does a gold buying operator record a surplus while the institution whose funds it is using records a loss?” he asked.
He is calling for GoldBod’s 2025 accounts to be restated to remove the GH¢4.54 billion capital injection from revenue.
-Overseeronline.com
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