Juaben MP Demands Answers Over GoldBod’s GHS27.5m Geological Deal

Juaben MP, Hon. Francis Owusu-Akyaw, has thrown GoldBod into the spotlight, demanding urgent answers over a GHS27.5 million geological investigation deal and the reported release of 20 mineralised areas to the state agency.

The controversy follows a public announcement by the GoldBod CEO that the agency had signed an agreement with the Ghana Geological Survey Authority (GGSA) to conduct geological investigations in Funsi, Atuna and Bensere East over a four-month period.

But according to the MP, the announcement raises serious legal and governance concerns under the Ghana Gold Board Act, 2025 (Act 1140) and the Minerals and Mining Act, 2006 (Act 703).

“GoldBod Was Created to Trade Gold, Not Hold Mineral Areas”
In a strongly worded public statement, Hon. Owusu-Akyaw argued that GoldBod was set up by Parliament to buy, sell, assay, refine and export gold not to function as a mining company or concession-holding body.He says the agency may have gone beyond its legal mandate.

Big Question: Where Is the Mines Minister?
One of the MP’s biggest concerns is whether the Ministry responsible for Mines was involved in the agreement at all.
He points to Section 3(1)(e) of Act 1140, which allows GoldBod to engage in geological investigations only in collaboration with the Mines Ministry.

However, he says the CEO’s public statement mentions only GoldBod and GGSA, with no visible role for the Minister or the Ministry.
That, he argues, is a red flag. “Model Mines” Not in the Law?
Another issue is GoldBod’s stated reason for the project.
According to Hon. Owusu-Akyaw, the law only permits GoldBod to undertake geological investigations to support small-scale miners.
But the CEO reportedly said the project is intended to generate data for the establishment of “model mines” in Ghana.
The MP insists that “model mines” do not appear anywhere in Act 1140, and is asking a direct question:
What legal authority allows GoldBod to spend GHS27.5 million on a programme Parliament never explicitly approved?

20 Mineral Areas: By What Authority?
Perhaps the most explosive part of the MP’s statement is his challenge over the 20 mineralised areas reportedly released to GoldBod by the Minerals Commission.

He argues that under Act 703, only the Minister responsible for Mines has the legal power to grant rights over mineral areas not the Minerals Commission acting alone.

He also says GoldBod’s own founding law does not authorise it to hold mineral concessions or blocked-out areas.
That raises a major legal question:
Did GoldBod lawfully receive those 20 mineral areas or is the arrangement legally flawed?
MP Demands Full Disclosure.

Hon. Francis Owusu-Akyaw is now calling on the GoldBod CEO and the Minister for Mines to publicly explain:
Whether the Ministry for Mines approved or collaborated on the GGSA deal;
The legal basis for releasing the 20 mineral areas to GoldBod;
Whether GoldBod holds valid mineral rights over those areas; and
Where exactly the GHS27.5 million is coming from.
“Ghanaians Deserve Answers”.

The Juaben MP says he is not accusing anyone of bad faith, but insists that the issues raised are too serious to be ignore.

With millions of cedis involved, a new model mines programme being publicly announced, and 20 mineral areas now under scrutiny, the matter is likely to trigger wider public and parliamentary attention.

For Hon. Owusu-Akyaw, the core issue is simple:Ghana’s mineral resources must be managed lawfully, transparently and in the national interest.