There is no missing gold – Atta Issah rejects NPP’s 16,000oz claim

A member of Parliament’s Finance Committee, Atta Issah, has dismissed claims by the opposition New Patriotic Party (NPP) that 16,000 ounces of gold are missing from Ghana’s reserves.

Mr Issah maintained that no fiscal gold is unaccounted for, arguing that the figure cited by the NPP stems from an improper method of calculating the country’s gold holdings.

Speaking on Joy FM’s Top Story on Tuesday, September 1, he explained that the Minority’s calculation failed to account for gold disposals, making it unsuitable for determining whether there had been any shortfall.

He stressed that there was no discrepancy involving fiscal gold or evidence that any gold had gone missing.

Mr Issah also criticised the accounting approach used by the NPP, saying it did not conform to accepted principles for preparing trading accounts.

According to him, the relevant financial statements already contain the necessary information on Ghana’s gold holdings and related transactions.

He accused the Minority of basing its claims on assumptions rather than the details contained in audited financial reports.

Mr Issah urged anyone seeking clarification on the gold accounts to consult the appropriate sections of the auditors’ reports instead of relying on independent calculations based on assumptions.

He reiterated that the 16,000-ounce figure cited by the NPP does not, on its own, prove that any gold is missing and said the matter must be assessed in line with proper accounting procedures and disclosure requirements.