Introduction
The Holy Book of the Christian Religion at Hosea 4.6 says ‘My people are destroyed for Lack of knowledge’’ you may add because they did not want to know. So in order to ensure a Better Ghana, the learning of the History of Ghana is very important.

This is the reason for the waning of her Excellency Nana Konadu Agyemang Rawlings to Africans especially Ghanaians to ensure to document and learn their history as stated in her book, ‘It Takes a Woman’. The book tells a lot, if Ghanaians wants a continuous stable democracy, with or for a Better Ghana, the study and documenting the history of Ghana especially in the internet, is sine qua non.

Scope
So, this Article or paper will cover History of GoldBod, History of the 1.7 Billion US Dollars, Need for Parliamentary Probe, Good Governance, Domestic Gold Purchase Program, Good works of CEO GoldBod, The Battle for the Billions, Conclusion

History of GoldBod
So, a study of the History of GoldBod will reveal that it took over the role of the Precious Minerals Marketing Company effective April 2025, with the role as provided in PNDC Law 219 of 1989. That is with the exclusive right or monopoly for gold trading (buying and exporting) with gold within the Small Scale Mining Sector.

History will tell that the Domestic Gold Purchase Program had two legs, namely the Gold for Reserve (G4R) involving only the Large Scale Mining Sector, as introduced in June 2021 and Gold for Oil (G4O) in the Small Scale Mining Sector introduced in 2022, which the PMMC was resurrected in 2022 to operate as an Agent of BOG for buying gold, with funding from BOG and the gold for export by BOG.

So, the PMMC and BOG Agreement was restricted to the G4O in the Small Scale Mining Sector. Hence, it will reveal that the sum of the 1.7 Billion US Dollars as operational lost or cost on the balance sheet on the Books of Bank of Ghana emanated only from the G4O leg of the DGPP covering the Small Scale Mining Sector History will tell of no issue of a loss from the G4R leg of the DGPP. So it is very wrong to say DGPP as a whole loss. But a loss attributed to the G4O leg of DGPP for the Small Scale Mining Sector, the area operation of GoldBod.

History will tell that GoldBod was established in 2025 to take over from PMMC, this time Gold for Dollar (G4R) and not G4O as such, in 2025, it operated only with the G4O leg of the DGPP for G4R, so the work of GoldBod in 2025 with the G4O leg of the DGPP for G4R brought massive economic gains and operational cost.

So, juxtaposing the Mission of GoldBod for G4R with that of PMMC of G4O, tells that both operated with the G4O Leg of the DGPP in the agreement of 2023. So, a study will reveal that because Rome was not built in one day, the GoldBod with the mission of G4R, whilst innovating PMMC, it had to operate in 2025, (the year of establishment) with the PMMC and BOG Agreement. This covered only the G4O leg of the DGPP as under the PMMC as reached in 2023 and signed by PMMC. With PMMC as the gold buying Agent and BOG, as the Agent for funding of the buying, assaying etc by PMMC and for exporting of the gold by BOG. So, the huge loss stemmed from scaling up of the G4O leg of DGPP, the area of operations of GoldBod in 2025 with a mission of Gold for Dollar (G4D).

The differences between the performances of the PMMC and GoldBod include the type and number of Aggregators, the Scaling up of the program, the payment of premium using the parallel high rate of Forex Bureaus, in order to reduce smuggling. The innovation by the CEO to generate, massive internal revenue through licensing system and the laudable spread of its tentacle into the Large Scale Mining Sector that saw the payment of samples fee of 90 US Dollars per sample from each gold bar and 850 US Dollars for visits to sites of Large Scale Mining Companies to monitor smelting, assaying and boxing of bullion in 2025, among good things for Ghana.

So, with the vehicle of G4O leg of the DGPP, and through the very good works of the GoldBod under the leadership of Mr Sammy Gyamfi, it brought massive economic gains to Ghana within one year with the associated loss of the 1.7 Billion US Dollars for public good.

History will tell that part of the surplus or profit of GoldBod in 2025, came from the fees from the Large Scale Mining Sector as well. This made Mr Sammy Gyamfi, an ardent critic of Dr Bawumia, to voluntarily and openly credit Dr Bawumia for the DGPP as a whole. Google for ‘Mr Sammy Gyamfi credits Dr Bawumia for the DGPP as a well–intentioned policy’, and Google for ‘President Mahama, speaks of the massive economic gains as magic”. Both stories tell the cost and gains emanated from the Agreement made in 2025, which operation was scaled up and with the payment price reduced smuggling of gold from the Small Scale Mining Sector.

So, History of the 1.7 Billion US Dollars

History will tell that the DGPP was of two legs of G4R and G4O and BOG made very huge profits from the Gold For Reserve (G4R) leg of the DGPP which is between the Ghana Chamber of Mines and BOG with no role by PMMC/GoldBod due using the Official or BOG or interbank rate especially ABSA Bank and not Forex Bureau Rates as used by GoldBod for the G4R (G4O) leg. Thus official rates were used by BOG to pay the affected Large Scale Mining Companies of the Ghana Chamber of Mines in Cedis.

So, History will tell that the Loss of 1.7 Billion US Dollars came from the second leg of the DGPP as the Gold for Oil (G4O) of the PMMC which GoldBod converted to G4R deal, in the Small Scale Mining Sector. Hence, as stated above, the mandate of GoldBod, as at GoldBod Act 2025 (At 1140) for G4R is to take over from PMMC which, operated with only the G4O leg of the DGPP designed with expected loss to BOG, and innovate to address related matters. So GoldBod cannot absolve itself from the loss of the 1.7 Billion US Dollars.

But the accusation of Lawyer Sammy Gyamfi is wrong but as in the political area, he should have treated it as the normal party-political retaliation in Ghana’s body politics since 1993. So Sammy should have seen it as the hazards and the associated risks with the work of politicians or State Officials.

Since the loss of 1.7 Billion US Dollars came from the G4O leg of the DGPP, GoldBod through the CEO certainly has a duty to explain matters related to the G4O leg of the DGPP as in the Agreement, the challenges or the issues/things with the operation in 2025. As well as how GoldBod is now working hard to address, hence lot of big questions to answer by the CEO of the GoldBod. Note electric power at the less than 1000 Centigrade is used in Refineries for fire assay and the high cost leads to high cost on assaying, smelting etc in the gold industry.

Though too much power is normally used but the Overseas Gold refineries say Rand Refinery in South Africa to smelt and assay the gold, but the assaying and smelting fees are lower than that in Ghana with Ghana’s Refineries and GoldBod. The fees of GoldBod were approved by Parliament. So investigation by Parliament may call for cheap power for GoldBod’s Assay Lab and the Local Gold Refineries, like what was/is given to VALCO.

So, once again, the 1.7 Billion US Dollars (about GHC22Billion) regarded as operational loss or cost on the balance sheet of the BOG, emanated only from the G4O leg of the DGPP under the PMMC agreement, as such was due to necessary acts by the GoldBod for G4R in order to reduce smuggling with the enticement of the operators in the Small Scale Mining Sector with genuine premium m prices to ensure they sell their gold to GoldBod for G4R.

The purchases by GoldBod with premium payments to reduce smuggling were done through Aggregators and, this good idea brought about the Scaling up of the gold in the G4D (G4O) leg of the DGPP with the associated high assay fees and service charges as approved by Parliament as well as the discount the BOG gave or had to give to the Off–Takers, thus surely attracted more cost.

It need to be emphasized that though the loss is not in the Books of GoldBod but logically, since GoldBod did operate under the G4O leg of the DGPP in 2025, as in the Agreement signed between PMMC and BOG which was endorsed by Dr Bawumia in 2023 with the expected losses, as such the PMMC/GoldBod cannot be absolved from the Loss of 1.7 Billion US Dollars incurred mainly from the G4R (G4O leg) of the DGPP especially with the payment of premium by using Forex Bureau rates.

Another contributing factor was the discount for Off–takers of the gold as offered by BOG to accept the gold. This is necessary since the gold from the Small Scale Mining Sector cannot enter the European Market or go to a Refinery certificated by LBMA to gain the spot price of the day. Hence, not suitable to be added to the National Gold Reserve, as such, one may say ‘dirty’ gold from the Small Scale Mining Sector. Based on this, the BOG has questions especially on the export side to answer.

So the people as the owner of the Gold as provided at Clause 6 of Article 257, need to know what the GoldBod as established by Parliament as a Statutory Body did in 2025 and what must be done to change the narrative, hence, the investigation is necessary for the attention of Parliament and public support.

Need for Parliamentary Probe
It should also be noted that besides the economic gains, it is also about ensuring proven integrity, consistency, hence maintenance of political principles in the governance system in line with the First Principle of War or Business Success Principle as Selection and Maintenance of Aim, herein in Policy. Note the NPP or the NDC do not maintain the same stand when in Government and in Opposition, the issues of policy inconsistency need to be addressed. ‘

The investigation may reveal either the need for improving Ghana’s democracy or Ghana’s democracy is improving with the need for ensuring of or inculcating new citizens of Ghana, as dreamt by President Nkrumah for Patriotic, Honest, Diligent and Disciplined Person, as a new citizen of Ghana, and whose integrity, knowledge (well-informed about national issues) and his humbleness are his or her greatness.

So, the investigation may reveal Mr Sammy Gyamfi, as a new Citizen of Ghana, with his good work in fighting for the soul of the economy and fascinated with the massive economic gains, made him to exhibit a rare honesty, for openly crediting his ardent critic, namely Dr Bawumia for the DGPP and this is contributing to part of the hullabaloo for him to once again credit Dr Bawumia in Parliament for it to be well documented. Since the mandate of GoldBod is clear, to operate in the Small Scale Mining Sector, hence within the G4O leg of the DGPP and which was designed to incur losses in Cedis in the Books of BOG.

Thus the debate and investigation by Parliament is to bring sunshine or transparency and accountability, as well as complimentary (praising) with the implementation of the DGPP of Dr Bawumia. Thus to some extent, it is about political branding ahead of the 2028 elections.

Hence, it would make you to appreciate the good works of Dr Bawumia, as the Brainchild of the DGPP for NPP, the very good works of Lawyer Mr Sammy Gyamfi Esq, as the CEO of PMMC, then as CEO of GoldBod in 2025 for the NDC, hence, as the operational executor of the DGPP of Dr Bawumia, whose work by scaling up the DGPP of Dr Bawumia, led to the cost or loss up to 1.7 Billion US Dollars in 2025, in the balance sheet or Books of the BOG.

The debate will also reveal, the further very good works of Mr Sammy Gyamfi, now or “effectively” as the CEO of GoldBod, effective March 2026, as the reformer of the PMMC/DGPP for a new model without funding from BOG and BOG not to be responsible for the export operations but maintain the G4R with the Ghana Chamber of Mines.

It will show how GoldBod is working hard for LBMA certification for the local gold Refinery; hence her CEO has roped in the Ghana Chamber of Mines to support Ghana with gold that is acceptable for European Market or LBMA’s Refineries

Thus it will show how he is upgrading the Dr Bawumia’s DGPP to President Mahama’s GANARP and the execution of same effective March 2026. Hence, the appropriateness of the topic, the Battle for the Billions for this submission by retired Major Mohammed Bogobiri, a Student of Risk Management.

So, the debate will also reveal the good works of Lawyer Mr Afyenyo-Markins Esq, as the leader of the Minority Group, hence the Opposition side in Parliament for Ghana. Some People failed to understand the role or the real work of Parliament as part of the democratic system of Checks and Balances (hence in line with the principle of Separation of Powers) is to scrutinize the works or policies of the Executive Arm of Government and not to be in bed with the Executive Arm of Government.

Probity, Transparency and Accountability are the principles or dogma of the 1992 Constitution, in Ghana, so history will tell that it is the Minority Group in Parliament since the inception of the Fourth Republic that demo as the representatives or the voice of the people in Parliament by ensuring the maintenance of the dogma of the Constitution. Since the Majority sees no evil, hence in bed with the Executive, thus creating the possibility of the Executive to extent its tentacles into Parliament by overreaching who should be a Majority Leader or to change the composition of the Majority Leaderships.

Good Governance
So let me use this chance to say well done to the 88 Members of Parliament from the Majority Group from the stable of the NPP. in the 8^th Parliament in the Regime of President Nana Addo, who stood for Democracy when they mustered testicular fortitude and demanded the resignation of Mr Ken Ofori Atta, as the Minister of Finance, in the regime of President Nana Addo, this is very rare in Africa, so they made a very good history that Parliament must stand up against bad policies or autocracy or overreach of the Executive Arm of Government.

So let me also use this chance to commend the Right Honorable Speaker of Parliament, Mr Alban Bagbin for making history by countering the overreach of the Executive Arm of Government, through the Office of the President, with the openly attempt to appoint or to reshuffle the Majority Leader of Parliament. So as required at Hosea 4.6 for people not to be destroyed, need to look for wisdom about national issues, so, please take time to read this submission, to ensure National Cohesion for a Better Ghana.

By reading this paper, you would also understand why Dr Tony Aubyn and retired Major Mohammed Bogobiri called for the Review of the laws of the Small Scale Mining to introduce Medium Scale Mining Sector. Google for ‘Review the laws on Small Scale Mining by Dr Tony Aubyn’.

An introduction of Medium Scale Mining for the licensed small scale mining tycoons like Ms Joana Cudjoe (a responsible and legal miner), besides to protect the environment through responsible and legal mining, it would enable gold from the Medium Scale Mining Sector to be sold at the spot price outside Ghana at European Markets and or to be added as part of the National Gold Reserves.

Since the gold from the current state of Small Scale Mining is not acceptable by Gold Refineries with certification by LBMA and the World Gold Council. As such, the gold from the Small Scale Mining Sector is regarded as “dirty” gold or gold from irresponsible miner and thus rejected by reputable global Refineries.

Note the gold from the Small Scale Mining Sector cannot be added to the National Gold Reserve of Central Banks; hence BOG, since the National Gold Reserve is valued globally at the spot price of the day as such it must meet local and international standards,

Gold from the Small Scale Mining Sector is normally sold at a lower price at ‘Black Markets” in India and United Arab Emirates, especially Dubai where they accept smuggled gold and thus they buy or pay for it at a negotiable discount than the same quality of gold from the Member Mining Companies or Large Scale Mining Companies of the Ghana Chamber of Mines which is sold at the spot price.

This is so, due to compliance to both local and International Standards (matters of due diligence and the associated traceability) by the Ghana Chamber of Mines. As such, a Small Scale Mining Companies or miners cannot be member of the Ghana Chamber of Mines because their gold is regarded as dirty gold, as such it cannot be added into the international Reserves, hence the National Gold Reserves. At this juncture, the details on the DGPP are stated below to give further clarity on the subject for students of history.

Domestic Gold Purchase Program
The Domestic Gold Purchase Program (DGPP) as designed by Dr Bawumia was made of two legs. Namely the Gold for Reserve (G4R) program as an agreement between Bank of Ghana and Ghana Chamber of Mines to save the Cedis and for building multibillion worth of troy ounces of Gold in the National Gold Reserves. The second leg was the Gold for Oil (G4O) program, which was a gentleman understanding between the BOG, Minerals Commission, PMMC, on behalf of the Government and the operators of gold in the Small Scale Mining Sector.

1. Gold for Reserve (G4R)

This was introduced on 17 June 2021 to raise the National Gold Reserve from 8.78 tonnes since 1957. It involved an agreement with the Large Scale Mining Companies of the Ghana Chamber of Mines, to sell to Bank of Ghana, 20 percent of their gold for export at 0.6 percent discount of the spot price on the date of export of their gold to LBMA’s Refineries outside Ghana.

Note with the DGPP of Dr Bawumia, the G4R was 20% from the gold from the Ghana Chamber of Mines. The GoldBod under Mr Sammy Gyamfi increased the 20% to 30%. With the G4R, no physical gold goes or comes to the Vault of BOG from the Ghana Chamber of Mines or the Gold Refinery with certificate from LBMA respectively.

With the G4R, the then Precious Minerals Marketing Company (PMMC) had no say or role to play with matters of assaying, valuing, trading with this very clean gold, therefore no matter of charging assay fees or service charges are incurred by BOG through the then PMMC in the regime of President Nana Addo.

All the gold including the 20% gold for BOG is exported directly or straight in totality to LBMA’s Refineries, say Rand Refinery in South Africa. The 20% gold for BOG does not come back to Ghana into the vault of BOG. The Oversea Refineries charge very low for the Assay of the gold from Ghana including the 20% of BOG, as compared to the very high charges of Assay by the GoldBod as approved by Parliament and not the making of the CEO of GoldBod. Hence, why Parliament must invite the CEO to Parliament to explain to the public through them and for Parliament to review the Charges if deemed ok.

20% gold of Dr Bawumia’s DGPP for BOG as stated does not pass through the National Assay Lab of the PMMC now GoldBod nor goes to the BOG. It is exported straight by the affected Large Scale Mining Company or the Ghana Chamber of Mines to a LBMA’s Refinery outside Ghana normally, Rand Refinery in South Africa by a Forward Sale/Purchase Agreement.

BOG through a separate Agreement with the LBMA’s Refinery outside Ghana, is to pay for very lower assay fees than as charged by GoldBod. The G4R gold must be documented accurately by the LBMA’s Refinery, using the spot price as quoted in the Document of the Large Scale Mining Company to pay for the gold for BOG and keep the gold in the Vault of the LBMA’s Refinery as part of Ghana’s International Gold Reserve, and the Refinery issue Paper Gold or Money Gold to BOG to cover it.

Note that the 0.6% discount agreed with the Ghana Chamber of Mines was/is to do away with loss to be incurred by BOG and BOG was to pay in Cedis using the BOG Reference rates or the interbank rate normally that of ABSA Bank and not that of the parallel Forex Bureau rates. By that BOG was/is to make profit. Note most Central Banks do not hold physical gold in their vault as National Gold Reserve. They just keep Paper Gold International Gold Reserve.

2. Gold for Oil (G4O)

In 2022, G4O was introduced due to shortage of US Dollars to meet the monthly fuel import requirements vis a vis the IMF condition that the BOG, must not pump more than 80 Million US Dollars per month to save the Cedis from further depreciation, so that the BOG allowed the Cedis to find its official or exact level with the Dollar, hence no massaging of the exchange rate but to allow market forces to determine the rate of exchange.

So the situation, gave the birth of the very smart idea of the G4O by Dr Bawumia to save the soul of the economy. Google for retired Major Mohammed Bogobiri’s article on Gold for Oil, as smart innovation to save Ghana, published in Modern Ghana in 2022.

So in order to ensure the economy did not collapse, the second leg of the DGPP, as G4O was introduced involving the gold from the Small Scale Mining Sector. The operators in the Small Scale Mining Sector especially the Small Scale Miners and their associated Bullion Exporting Companies due to their then existing arrangement with their International Partners, had to be enticed with the payment of an attractive price, hence the spot price with no discount to sell their Gold to resurrected PMMC in the gold buying and existing business

Note that the PNDC was fully aware of the GoldBod model as introduced by Guyana in 1982 but opted for the PMMC model. Google for Guyana Gold Board and her operations. PMMC was established by the PNDC, to absorb the Diamond Marketing Company as established by Dr Nkrumah, so as to deal with Precious minerals like the then available Gold and Diamond, and to deal with future minerals like platinum, if found in Ghana. The PMMC by the PNDC Law 219 had the monopoly or the exclusive right to assay, value, buys and sells precious minerals as gold and diamond from the Small Scale Mining Sector.

Unfortunately in 2014/2015, the PMMC did not only loss her monopoly, it was restricted or condemned to be a mere National Assay Lab. Hence it could not register small scale gold buying or selling Agents to buy or sell gold on her behalf. This gave birth to numerous gold buying and exporting Companies like Nana Appiah’s Menzbanc (the parent company of Menzgold) and the rise of Ms Joana from mobile sale agent on the Streets of Accra to multimillionaire. Google ‘How my net worth reaches 700 million US Dollars a year by Ms Joana Cudjoe’ Also Google for Old videos and photos of Amenfi Central PC in galamsey operations pop up. This was during her appearance on Delay Show.

Gold for Oil as the leg of the DGPP, in the Small Scale Mining Sector, the operators were enticed with an attractive spot to to sell all their gold to the Government through PMMC with funding from BOG and the physical gold must go to the vault of the BOG for export the barter trade for oil or export for dollars with International Off takers.

PMMC by law was designed to check smuggling by mere buying gold from the Small Scale Mining Sector. PMMC per arrangements in the PNDC era was to buy the gold at 5% discount (2.5% as assay and service charges and 2.5% against reclamation of damage environment by the miner) and payment Cedis using either the interbank rate normally that of Barclays Bank now ABSA Bank or BOG’s rate.

Good works of CEO GoldBod
The GoldBod, took over from the PMMC in the Small Scale Mining Sector, beside using the spot rice to buy the gold, it went further extra mile to use the premium exchange rate of Forex Bureau to pay for the gold in order to check smuggling. This is so by enticing gold dealers in the Small Scale Mining to be very glad to sell their gold to the Aggregators of GoldBod due to the highest price, which may be the premium price in the World as.

So, it is feared that the possibility of gold from outside Ghana into the system for premium price in Cedis was/is possible and later on change for dollars, not forgetting more damages to the environment due to increase in illegal Small Scale Mining by the Chinese and their Ghanaian accomplices. Hence Bank of Ghana is required to pump more dollars to sustain the appreciation of Cedis. Hence, a need for BOG and National Security System to study this possible risk.

Thanks to God, due to the very good works of Mr Sammy Gyamfi, the Small Scale Miners have agreed to sell their gold to GoldBod at 2 % discount. Through the work of GoldBod under the leadership of Mr Sammy Gyamfi, the Operators in the trading of gold in Ghana are required to pay reasonable price for the operating licenses. He should rope in Diamond Dealers, hence the reason retired Major Mohammed Bogobiri recommended in 2022 for Minerals Board.

Large Scale Mining Companies are required by the GoldBod to pay 850 US Dollars per weekly visits of the Officials of GoldBod during inspection and monitoring of smelting, assaying, weighing, boxing of bullion and exporting of same. Large Scale Mining Companies are also required to pay 90 US Dollars for each sample of their gold bars to GoldBod.

These payments and the assay and services fees paid by BOG for the gold from the Small Scale Mining Sector contributed to the Ghc 900 Million surpluses or profit of GoldBod. Sammy has also increased the 20% of the G4R gold from the Ghana Chamber of Mines to 30% at the 0.6% discount Some Mining Companies like Preastea Sankofa Gold, TWM Gold Mine Obuasi etc have agreed to sell 20% at discount to GoldBod

He is working had to ensure traceability of the gold from the Small Scale Mining Sector. So he is working very hard with Rand Refinery to help Ghana obtain a LBMA’s Refinery in Ghana using a percentage of the gold from the Large Scale Mining Companies to be sent physically to the GoldBod for assaying etc under the monitoring/supervision of Rand Refinery of South Africa

So as advised by CEO of the Bulk Oil Marketing Association, Mr Duncan Amoah, Lawyer Mr Sammy Gyamfi, should rather see the debate, and the invitation to Parliament as God Send for the people to appreciate the difficulties the GoldBod went through and yet able to make profit.

Hence the suspicion of the NPP might have stemmed from the use of the Very high Forex Bureau Exchange Rate by the G4O under the PMMC. Note the NDC when in opposition did not counter the G4R between the Ghana Chamber of Mines and BOG since it was within a mining law.

The Battle for the Billions
The Investigation as required by the Minority Group hence the NPP, may demo that NPP and the NDC besides protecting the public purse, they are fighting for the soul of the economy but with different model. Hence, the matter is going to frame Dr Bawumia and Mr Sammy Gyamfi as competing or rival gold superheroes, due to the policy innovation, the associated Agreement, implementation of the policy with the structural impacts driving the narrative in the political power struggle.

So the matter can be described as a clash of Ideological Titans. Since the members of the Minority Group in Parliament led, by their smart leader and the NPP, as a whole are working hard to use this golden opportunity to show that both figures are not to be regarded as just politicians, but ideological titans wielding distinct strategies for saving or stabilizing the Cedis and building National Gold Reserves . Thus making political stakes for the matter to be a political battle to be framed as a high legacy war between the NDC and NPP. The positions of the NPP and NDC are going to be viewed as follows:

1. Dr Bawumia as strategic architect:

Dr Bawumia among others, as strategic architect with the visionary blueprint by conceiving the DGPP, building national reserves through the G4R to save the Cedis and to secure macroeconomic stability effective 17 June 2021. Then he introduced the G4O in 2022 and thus pushed for innovative commodity backed strategies to directly counter currency depreciations and rising fuel costs. Dr Bawumia as the digital messiah with a longtime brand as economic titan, who uses technological systems and fiscal policies to structurally reform the marketplace.

2. Mr Sammy Gyamfi as the operational executor and reformer

The NDC are going to ride on Mr Sammy Gyamfi performance at GoldBod, as the operational executor and reformer of the G4O by institutionalized it into the GoldBod, with himself transitioning from a Critic of Dr Bawumia to Corporate Commander of the GoldBod, who in 2025, scaled up Dr Bawumia’s DGPP, as a temporary Central Bank crisis response and worked hard and converted the G4O into a fully structured, alternative sustainable state program.

But for reasons best known to himself, he ironically credited Dr Bawumia for the DGPP and defended the GoldBod operations, with the DGPP model with expected loss but achieved historic massive economic gains with Cedis appreciation, National Dollar Reserves up from 8 Billion US Dollars in 2024 to about 11 Billion US Dollars in2025 with GoldBod making surplus gains (profit) . This made President Mahama, who as a man of high integrity to confess that the historic Cedis appreciation was a magic. Google ‘President Mahama statement on the historic Cedis appreciation as a magic’.

So, the battle started with Hon Mr Afyenyo-Markin’s position on the 1.7 Billion US Dollars operational loss, linked to the gold program, leading to the politics of a the loss of1.7 Billion US Dollars versus Investments or Gains Narrative by the NPP and NDC respectively.

This is making the Dr Bawumia’s allies seeing the figures as fiscal leakage, whilst Gyamfi allies frame the deficit as intentional, calculated State investments or cost and national economic stabilization cost for public good.

Thus the NPP wants the people especially the voters to note Dr Bawumia as the one who intellectualized or conceptualized the DGPP, with the two legs of G4R and G4O, which operation was covered with an agreement in 2023 between BOG and PMMC and was what in 2025 was operated with, under the Gold for Oil deal under the PMMC which was converted to Gold for Dollar (G4D) under the GoldBod.

As such, for Dr Bawumia to be framed as an economic wizard who fought for the soul of the economy and thus saved the collapsed of the Economic/ National Foreign reserves, to let the public know that the economic would have completely crumbled without his blueprints.

Hence, the NPP wants to seize or share the massive gains made in 2025 with the DGPP especially the leg of G4O, as designed by Dr Bawumia with expected losses. So Hon Mr Ayariga, the outgone Majority Leader/Incoming Minister of Local Government, was right with his last statement as the Majority Leader.

So, Dr Bawumia’s ardent followers especially Mr Afyenyo-Markins and the Minority Group want Dr Bawumia through Mr Afyenyo-Markins to assume the role of Mr Sammy Gyamfi, as an advocate for Transparency and Accountability, when as the National Communication Director of the NDC.

Thus, Dr Bawumia, as an Accountability Avenger, by supporting the call for the investigation to protect the public purse or funds. This may be so due to the G4O leg of the DGPP’s Policy implementation blame game since 2021, but now with the irony of Mr Sammy Gyamfi, a critic of Dr Bawumia, now praising Dr Bawumia for the DGPP as whole. Google for Lawyer Mr Sammy Gyamfi credits Dr Bawumia for the DGPP as a well–intentioned policy’, Mr Sammy Gyamfi did so while heavily criticizing the original execution of the DGPP under the previous regime.

Conclusion
Economic Experts such as Professor Peter Bokpin have cautioned that the celebrated gains are overly dependent on volatile global gold prices and could disappear rapidly if market shocks occur. So, beyond the personalities, is that the saving of the Cedis needs a move away past the rhetoric or propaganda since beneath the political theater lays the need for genuine fiscal discipline, fixing structural issues of the economic fundamentals, including heavy import dependency, low manufacturing output, and high borrowing/high debt servicing.

Hence need for a serious modernization and transformation of the Agricultural Sector, value addition of local products with good markets and government support with import substitution. The real necessity within the Mining Sector especially the Small Scale Mining Sector is the need for structural gold traceability and due diligence to ensure responsible and legal mining.

Thus a need for formalization and regularization of the small Scale Mining Sector by reviewing the Laws on Small Scale Mining as recommended by Dr Tony Aubyn. This will require the addition of Medium Scale Mining Sector for Ghanaian Mining tycoons in the Small Mining Sector like Ms Joana Cudjoe, Chairman Wontumi etc to navigate into the Medium Scale Mining Sector and operate under both local and international standards and thus ensure a reduction of the damages to the environment and traceability of the gold from the Medium Scale Mining Sector for it to be seen as clean gold.

A review of the laws as suggested is to restrict Small Scale Mining to Community mining for only interested communities. Hence it is an absurdity on the part of the previous regime or Government with the attempt to introduce Small Scale Mining at Atroni near Bibiani against the interests of the farmers and people of the area.

The solution therefore needs a non-partisan production-driven economic shift to build multibillion-dollar economy. Thus Ghana’s recovery and massive economic development and inclusive growth depend on besides the modernization and transformation of the Agricultural Sector, the combination of the dual legacy of both Dr Bawumia’s policy blueprint and Mr Gyamfi’s good works in the Gold Mining Sector. With the attempt to institutionalize GoldBod, with the execution of President Mahama’s GANARP, to demo that, in economics, cooperation often supersedes political rivalry, especially when Sika mpe dede in Twi (to with money does not wants noise) as postulated by Former President Nana Addo.

Nota Bene on Sika mpe dede
This statement by Former President Nana Addo is true, with Chairman Wontumi languishing in 20 years jail term though he merely breached a section 14 (1) of the Minerals and Mining Act 2006 (Act 703). A matte legally regarded at Sections 106 to 108 of Act 703, as Administrative Offence with corresponding administrative punishment at Sections 106 to 108 of Act 703. By the Constitution and mining law the matters are within ministerial jurisdiction as at Section 68 or Section 200 (3) of Minerals and Mining Regulations 2012 (LI2176) and not a the jurisdiction of a high Court, if it involves a Large Scale Mining Company.

Otherwise the corresponding offence at section 14 (1) of Act 703 governing the Large Scale Mining Sector which is governing the Small Scale Mining Sector is at section 88 of Act 703 if and only if involves a Small Scale Miner with mining rights (a license Small Scale Miner). So with Small Scale Mining Sector, the matter as constitutionally as provided at Clause 19 (11) of the constitution, the corresponding administrative punishment is at Section 87 of Act 703 or Section 251 (3) of Minerals and Mining Regulations 2012 (LI2176).

So his appeal may see him out of prison, since, he is a Miner with mining rights like Adamus Gold Resources with Ms Angela Atieh as owner, who is in the Large Scale Mining Sector whose Company allegedly offended section 14 (1) of Act 703 .

Hence, Chairman Wontumi as a Small Scale Miner was luckily charged with a defective charge at section 14 (1) of Act 703 and not Section 88 of Act 703. So as required by law and Constitution at 19(11) his offence should have been treated as administrative offence as required at Section 200 (1) or Section 251(3) of LI LI2176, the failure by the State that makes his case to appear a political one otherwise incompetency on the part of the Investigator/Prosecutor.

So, fortunately, as a licensed Small Scale Miner who sector is governed under sections 81 to 99, made the use of the section 14 (1) of Act 703 governing the Large Scale Mining Sector to charge him to be technically wrong. Besides his case as an administrative offence hence under ministerial jurisdiction, the State should have used Section 88 of Act 703against him or to charge a licensed a Small Scale Miner like Chairman Wontumi if deemed ok.