Prez Mahama One Year Full of "Manufactured Miracles ", and Political Uncertainty – Minority Blasts Gov’t Over $214m Gold Scandal

In a scathing assessment President John Mahama One Year Full of “Manufactured Miracles “, and Political Uncertainty – Minority Blasts Gov’t Over $214m Gold Scandal of President John Mahama’s first year in office, the Minority caucus in Parliament has dismissed the government’s “anniversary celebrations” as a facade, describing the last twelve months not as a national “reset,” but as a dangerous “relapse” into economic mismanagement, lawlessness, and predatory partisanship.

At a press conference addressed by the Deputy Minority Leader,Hon Patricia Appiagyei, the Minority stripped away the government’s slogans, presenting a grim picture of a nation gripped by a $214 million gold trading scandal, a deteriorating security climate, and a “blood debt” owed to the victims of illegal mining (galamsey).

The $214 Million “Gold-for-Reserves” Disaster

The centerpiece of the Minority’s indictment is the alleged loss of $214 million (GH₵2.6 billion) within the Gold-for-Reserves programme over just nine months.

While the government-appointed managers of “GoldBod” claim a surplus based on agency fees, the Minority accused them of a “financial sleight of hand.”

“A fund manager might earn fees while the fund itself craters,” the Minority spokesperson noted. “The IMF found $214 million in losses in actual trading operations. GoldBod’s response was to show us agency fees and call it a surplus. This is not transparency; it is misdirection.”

The Minority further alleged that “excessive off-taker fees”—well above market rates—were paid to politically connected intermediaries, suggesting either gross incompetence or deliberate corruption.

A “Manufactured Miracle”

While the government points to a 6% GDP growth and a 40% appreciation of the cedi as signs of success, the Minority argues these figures are unsustainable “optics.”

They contend that the recovery rests on an IMF programme and fiscal consolidations inherited from the previous NPP administration, coupled with a global gold boom.

Furthermore, they warned that the rapid cedi appreciation is a double-edged sword, hurting exporters and leaving local farmers unable to compete with a flood of cheap imports.

Insecurity and the “Blood Debt”

The Minority highlighted a “deteriorating security situation” that has left Ghanaians sleeping with one eye open.

They cited the Ministry of Interior data which revealed that 628 armed robberies and 340 murders involving illicit arms recorded by July 2025.

The Interior Ministry data further indicated 31 deaths and 48,000 displacements resulting from communal clashes in Bawku, Sampa, and the Savannah regions.

A rise in kidnappings, highlighted by the tragic murder of young Senegalese goalkeeper Cheikh Touré in Kumasi.

The Minority also invoked the “blood debt” of the August 6, 2025, helicopter crash that killed eight citizens, including two ministers, during an anti-galamsey mission.

They accused the government of “speaking against galamsey in press conferences while allowing questionable incentives and weak enforcement to persist.”

Broken Promises and the “24-Hour Economy”

The Minority didn’t spare the President’s flagship “24-hour economy” proposal, labeling it a failed promise.

They pointed to over a million unemployed youths and the “politically coloured” dismissal of thousands of public servants since January 2025.

The tragic stampede at El Wak Stadium during a recruitment exercise was cited as the ultimate symbol of the government’s failure to provide safe, dignified paths to employment.

Demands for Accountability

The Minority however demanded Parliament immediately establish bipartisan select committees to Investigate the $214 million Gold-for-Reserves loss, subpoenaing all off-taker contracts and trading data.

The Minority also want the bipartisan parliament investigation to scrutinize the appointment of Governor Asiama, questioning the oversight of the Bank of Ghana in the wake of mounting trading losses.

“This anniversary is a time for clarity, not jingles,” the statement, the Minority stated, adding, “We will not remain silent while our Constitution is strained and our resources are bled dry. The public deserves full disclosure.”

Source: Felix Nyaaba/expressnewsghana.com