The Ghana Gold Board (GoldBod) has denied claims that it owes the Bank of Ghana (BoG) an unpaid overdraft of GHS1 billion.

The denial follows a claim attributed to the Member of Parliament for Tano South, Dr Gideon Boako, regarding the financial obligations of the GoldBod.

In a statement issued on Monday, August 24, GoldBod described the allegation as false and malicious.

“For the records, the GoldBod has never at any time since its establishment taken a loan, overdraft or any debt instrument from the Bank of Ghana or any financial institution whatsoever,” the GoldBod said in the statement.

The institution said the allegation formed part of what it described as a deliberate smear campaign against its operations.

It said the claim was “contrived” and challenged Dr Boako to provide evidence to substantiate the allegation.

“The claim attributed to Dr. Gideon Boako is contrived and should be treated with utmost contempt,” it said.

The GoldBod further called on the Tano South MP to unequivocally withdraw the claim and apologise for what it described as putting out false information.

The latest development comes amid heightened political and public scrutiny of GoldBod’s operations, particularly its role in the Domestic Gold Purchasing Programme and reported financial losses associated with the programme.