APL demands forensic probe into GoldBod following $1.7billion gold-trading losses

The IMF identified three main factors leading to the loss: Service and assay fees paid to GOLDBOD, discounts granted to off-takers/exporters and forex spreads - the gap between the forex bureau rate used to buy gold and the cedi reference rate used by BoG for accounting The IMF puts total DGPP costs losses for 2025 at approximately 17% of the value of gold traded APL’s review, the statement noted, found that GOLDBOD fees and off-taker discounts accounted for about 1.“Where significant quantities of artisanal and small-scale mining gold are purchased through a state-backed system with substantial purchasing powers and public financing, any reported losses amounting to approximately 17% of the value of the gold concerned demand an urgent review,” APL said.“APL’s assessment therefore identifies GOLDBOD’s purchasing and pricing model as an area of significant potential risk within Ghana’s gold-trading architecture,” the think-tank said.