Addressing the Public Accounts Committee of Parliament on Monday, Dr Asiama explained that the gold-reserve scheme and its complementary gold-for-oil programme were designed to build up Ghana’s gold reserves as a buffer to stabilise the cedi.
He disclosed that an audit of the gold-reserve programme is currently underway, with the final report expected in March 2026.

The Governor revealed that the programme recorded net losses of GHS 1.8 billion in 2024, GHS 317.6 million in 2023, and GHS 744.4 million in 2022.
He attributed the losses to inherent costs in the trading model, which the Central Bank largely absorbed.

Dr Asiama emphasised that while the programme had faced challenges, it remained a strategic initiative for Ghana’s economic stability.
He called for a unified approach among policymakers, regulators, and industry players to ensure the scheme delivers long-term benefits to the economy.

“The focus should be on reforms that strengthen the programme’s efficiency so it can serve its intended purpose of stabilising the currency and supporting national development,” he said.