The Alliance for Accountable Governance (AFAG) has called for a forensic audit into the financial accounts of the Ghana Gold Board (GoldBod) over allegations of gross fiscal recklessness and conflict of interest in an audit report of the gold regulatory body’s financial statement.

According to the group, the audit report “raises serious questions regarding fiscal prudence, public sector accountability, and the day-to-day administrative management of the institution,” which must be probed.

In a statement sighted by GhanaWeb, on August 27, 2026, AFAG indicated that details of the audited financial accounts showed “an unmonitored spending pattern, with total expenditures reaching an astounding GH¢78,684,164.32.”

“Of particular concern are several multi-million-cedi line items cloaked in ambiguity and administrative excess, some of which include, but are not limited to, the following:

Task Force Deployment: GH¢14,294,116.30
Entertainment & Events: GH¢3,982,096.03
Travelling Costs: GH¢3,385,495.53
Special Intervention Programme Expenses: GH¢5,263,872.54

“It is completely unacceptable for a public enterprise to expend millions of tax-backed funds on some line items which leave more questions than answers,” part of the statement read.

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AFAG also stated that the details showed that nearly GH¢8.6 million used as “Legal & Professional Fees” was paid to a company linked to the Deputy CEO of GoldBod, Richard Nunekpeku.

It said that although this has been denied by GoldBod, it still has to be investigated.

“Even more troubling is the allocation of GH¢8,576,847.78 under Legal & Professional Fees. Reports emerged that substantial payments were made to Sustineri Attorneys, a law firm associated with the Deputy CEO of GoldBod, Richard Nunekpeku.

“These reports have since been denied by GOLDBOD. That notwithstanding, that line item raises critical corporate governance and practice questions:

Does GOLDBOD have a Legal Department staffed with qualified lawyers to practise, entitled to monthly salaries & allowances?
What specific, verifiable legal services were undertaken to justify an outlay of over GH¢8.5 million?
If not Sustineri Attorneys, which law firm(s) or person(s) received the colossal GHS8,600,000.00 as Legal and Professional Fees?” the statement quizzed.

In addition to the forensic audit, the group also called on President John Dramani Mahama to halt further fiscal dissipation and demand accountability from GoldBod’s leadership.

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