- Matilda Asante-Asiedu Replaces Johnson Asiama on GoldBod Board
Bank of Ghana Governor Dr Johnson Asiama ceased serving on the board of the Ghana Gold Board in May, with Second Deputy Governor Matilda Asante-Asiedu assuming responsibility for representing the central bank.
The Bank disclosed the change in a statement issued on Sunday, September 28, following what it described as “recent public commentary” about its representation on the GoldBod board.
“Dr Johnson Asiama, Governor of the Bank of Ghana, ceased to serve as a member of the GoldBod Board effective 11 May 2026,” the central bank said.
It added that Dr Asiama had not participated in any meetings or activities of the board since that date.
The clarification establishes a formal separation between the Governor and GoldBod’s board-level decisions, although the Bank of Ghana continues to retain statutory representation at the state-owned gold trading and regulatory institution.
Under Section 4 of the Ghana Gold Board Act, 2025 (Act 1140), the central bank must be represented on the GoldBod board by the Governor or another Bank of Ghana official not below the rank of director.
The Bank said it had consequently nominated Mrs Asante-Asiedu to occupy the position.
“Mrs Asante-Asiedu has since assumed that role and represents the Bank on the GoldBod Board in fulfilment of the statutory requirement,” the statement said.
The arrangement allows the central bank to retain oversight and institutional input without requiring its Governor to participate directly in GoldBod’s governance.
That distinction is important because the Bank of Ghana has responsibilities extending beyond representation on the board. It manages monetary policy, foreign-exchange reserves and financial-sector stability, while GoldBod plays an increasingly prominent role in the purchase, aggregation and export of Ghana’s gold.
Gold purchases have also become closely connected to the central bank’s reserve-management and foreign-exchange operations. Direct participation by the Governor in GoldBod’s board decisions could therefore raise questions about the separation between regulatory, commercial and monetary-policy responsibilities.
The nomination of the Second Deputy Governor does not remove the institutional connection between the two bodies. It instead places day-to-day board representation below the office of the Governor while satisfying the requirement imposed by the GoldBod Act.
The Bank did not explain in its statement why Dr Asiama ceased serving on the board on May 11 or why the clarification was being issued more than four months later. It also did not identify the specific public commentary that prompted its intervention.
However, the statement placed particular emphasis on institutional integrity and the management of potential conflicts.
“The Bank of Ghana remains committed to the highest standards of governance, transparency and the avoidance of any actual or perceived conflict of interest in the discharge of its mandate,” it said.
The issue extends beyond who occupies the central bank’s seat. As GoldBod assumes greater influence over Ghana’s gold trade and foreign-exchange flows, the clarity of its relationship with the Bank of Ghana will be closely watched.
The effectiveness of the revised arrangement will ultimately depend on whether the two institutions can co-ordinate national gold and reserve policies while preserving clear lines of authority, accountability and commercial responsibility.
For now, the central bank’s message is that Dr Asiama is no longer involved in GoldBod board activities but the Bank of Ghana itself remains firmly represented.
