The Deputy Chief Executive Officer (DCEO) in charge of Finance and Investment at the National Health Insurance Authority (NHIA), Anatu Anne Seidu Bogobiri Esq., has strongly rejected allegations surrounding the operations and financial performance of the Ghana Gold Board (GoldBod), describing the claims as misleading and politically motivated.
In a statement dated September 4, 2026, Ms. Bogobiri argued that GoldBod’s legal mandate, financial performance and contribution to Ghana’s foreign exchange reserves do not support claims that the institution is operating like a forex bureau or making financial losses.
She also cautioned the opposition New Patriotic Party (NPP) against turning the allegations into a political campaign message ahead of the 2028 general elections.
GoldBod operating within its legal mandate
According to Ms. Bogobiri, GoldBod’s activities are firmly backed by the Ghana Gold Board Act, 2025 (Act 1140), which received presidential assent in April 2025.
She explained that the legislation gives GoldBod the responsibility of generating foreign exchange for the country while supporting the Bank of Ghana’s efforts to build up the nation’s gold reserves.
She therefore dismissed comparisons between GoldBod’s foreign exchange activities and those of conventional forex bureaux, describing such comparisons as a misunderstanding of the institution’s statutory responsibilities.
GoldBod generated US$1.315 billion in August
Ms. Bogobiri cited GoldBod’s reported foreign exchange generation as evidence of the institution’s growing economic importance.
Referring to a Ghana News Agency report published on September 2, 2026, she stated that GoldBod generated US$1.315 billion in foreign exchange in August alone.
She explained that the funds came from gold exports and were subsequently made available to the Bank of Ghana and commercial banks under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
According to her, US$668.21 million was sold directly to commercial banks, while another US$646.59 million was made available to the Bank of Ghana.
Ms. Bogobiri stressed that the transactions should not be mistaken for forex trading.
“GoldBod does not buy forex. It only sells the forex it generates from its own gold exports,” she stated.
She described the arrangement as the surrender of export proceeds rather than the operation of a forex bureau.
‘Show us the loss’
The NHIA executive also challenged assertions that GoldBod is operating at a loss.
She accused critics of presenting the institution’s operational expenditure as losses without properly considering the revenue generated and the wider economic benefits of its activities.
She cited GoldBod’s second-quarter 2025 figures, which, according to her, recorded GH¢381 million in revenue against expenditure of GH¢24.7 million.
Ms. Bogobiri further referred to a technical assessment conducted by economists from the University of Ghana and led by Professor Festus Turkson.
She said the assessment found that GoldBod had formalised 39.4 tonnes of gold that had previously been smuggled out of the formal economy, with the gold valued at about US$3.8 billion in additional foreign exchange.
According to her, the assessment established a benefit-cost ratio of 18:1 when compared with the reported US$214 million Bank of Ghana trading provision.
She argued that these figures demonstrate that GoldBod’s operations should be viewed in terms of their broader economic returns rather than simply through expenditure figures.
“That is a national gain, not a loss,” she declared.
GoldBod helping strengthen Ghana’s reserves
Ms. Bogobiri further maintained that GoldBod’s importance goes beyond its immediate financial statements.
She said the institution is helping Ghana generate foreign exchange, accumulate gold reserves and support efforts aimed at stabilising the cedi.
She accused critics of concentrating on selected expenditure figures while overlooking the foreign exchange earnings and gold accumulation generated through GoldBod’s operations.
For her, the institution’s performance must therefore be assessed against its broader contribution to Ghana’s economic and reserve position.
Warning to NPP over 2028 campaign narrative
Ms. Bogobiri concluded her statement with a direct warning to the NPP against what she described as an attempt to repeatedly circulate inaccurate claims about GoldBod in order to turn them into a political campaign narrative ahead of the 2028 elections.
She cautioned that repeating allegations would not automatically make them credible.
“If some in the NPP think repeating these falsehoods until they become a campaign slogan for 2028 will work, they should think again,” she warned.
She ended with a firm declaration:
“THIS PROPAGANDA IS DEAD ON ARRIVAL.”
The statement was signed by Anatu Anne Seidu Bogobiri Esq., Deputy Chief Executive Officer in charge of Finance and Investment at the National Health Insurance Authority, and dated September 4, 2026.
Source: Apexnewsgh.com