Former Managing Director of the Precious Minerals Marketing Company (PMMC), Nana Akwasi Awuah, has defended his tenure, insisting that the company had been turned around by the end of 2024 before the establishment of its successor, the Ghana Gold Board (GoldBod).

In a statement issued on Tuesday, October 13, 2026, Awuah said the final financial audit reports covering PMMC’s books from 2020 to 2024 demonstrated that the company had struggled during the period but had made significant progress by the close of 2024.

“It is instructive to note that the final audit reports over the years in question demonstrate a struggling PMMC which was eventually turned around by year-end of 2024,” he said.

His comments follow GoldBod’s engagement with Parliament’s Public Accounts Committee, during which a report indicated that PMMC’s accounts had not been audited for the years 2020 to 2024 until the new management requested an audit in 2025.

Awuah disputed the impression that the audits were initiated only after the change in management, stating that he had written to the Auditor-General on September 2, 2024, to request a comprehensive audit of the company’s accounts for the five-year period.

He said the process was delayed by bureaucratic challenges associated with appointing a new external auditor, adding that the Auditor-General’s team began work in September 2024 after receiving the request.

The final audit reports were subsequently concluded, signed and submitted in April and June 2025, he said.

Awuah also pointed to a performance audit conducted by the Auditor-General in 2023, which he described as the first of its kind at PMMC in about two decades.

He maintained that the company’s turnaround by the end of 2024 established a firm foundation for GoldBod’s creation, pushing back against any suggestion that the previous management had failed to initiate the audit process.

Read the full statement below

Tuesday 13th October, 2026

For Immediate Release

RE: PMMC AUDITS COVERING THE YEARS 2020 TO 2024

My attention has been drawn to a report emanating from today’s engagement by GOLDBOD with the Public Accounts Committee of the Parliament of Ghana. According to the report, the books and accounts of PMMC were not audited for the years 2020 to 2024. It also notes that it was not until 2025 that the new Management requested for a financial audit of PMMC.

I wish to state unambiguously that as far back as 2nd September, 2024, as Managing Director, I had written to the Auditor General requesting for a multi-year audit of the books and accounts of the Precious Minerals Marketing Company (PMMC) for the years 2020 to 2024. The delay over the years was through no fault of Management but rather as a result of the bureaucracy at the time associated with appointing a new External Auditor by the Ghana Audit Service to conduct a financial audit of the company. It is also worthy to note that during my tenure, the company was subjected to a Performance Audit in the year 2023 by the Auditor General, the first of its kind in about two decades.

Furthermore, the Parliamentary Select Committee on State Enterprises also wrote to the Auditor General in support of my request for the multi-year audits. The Auditor General accordingly put together a team that immediately commenced work in the same month of September 2024. The final audit reports covering the years 2020 to 2024 were concluded, signed and submitted in April and June of 2025 respectively.

It is instructive to note that the final audit reports over the years in question demonstrate a struggling PMMC which was eventually turned around by year end of 2024 setting a firm foundation for the establishment of its successor GOLDBOD.

Thank you for your attention.

Nana Akwasi Awuah, Esq.
Former Managing Director
Precious Minerals Marketing Company, PMMC

AM

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