IMANI Demands Forensic Audit Over Gold-for-Oil Scandal

IMANI Africa and a coalition of oversight institutions are calling for urgent investigations into Ghana’s Gold-for-Oil (G4O) programme, following the release of a damning forensic report.

The independent international assessment revealed widespread corruption, revenue losses, and poor oversight within the programme, which was originally meant to stabilise Ghana’s foreign exchange reserves by trading gold for oil.

Key findings include the absence of contracts between key institutions, misuse of exchange rates by the Bank of Ghana, and possible money laundering linked to offshore accounts.

The report also highlights unaccounted fuel imports, tax losses estimated at GHS 7.2 billion, and the involvement of high-risk international suppliers.

Dr. Ishmael Yamson, chairman of a recent national economic dialogue, called the revelations “frightening,” accusing both local and foreign actors of undermining Ghana’s development.

IMANI’s president, Franklin Cudjoe, described the programme as “systematically weaponized against the state.”

IMANI is demanding a full forensic audit, prosecution of those involved, and the recovery of lost state funds. It has formally submitted its findings to Ghanaian authorities for action.

Ghana|Atinkaonline.com|Ebenezer Madugu