IMANI Demands Forensic Audit into Gold-for-Oil Scandal
Policy think tank IMANI Africa and allied oversight institutions are demanding a sweeping forensic audit and prosecutions after a damning international review exposed massive leakages and governance failures in Ghana’s Gold-for-Oil (G4O) programme.
The confidential assessment, which examined data from the NPA, BOST and Customs, found that the programme—meant to stabilise foreign reserves—was riddled with opaque deals, weak controls, and loopholes that cost the state billions.
Key revelations include the absence of contracts between the Bank of Ghana and the Precious Minerals Marketing Company, discretionary exchange rate practices, and untracked fuel import exemptions. Analysts estimate revenue losses at over GHS 7.2 billion.
The report also flagged international suppliers with op...