THE ACTING Chief Executive Officer (CEO) of the Goldbod, Sammy Gyamfi (Esq), has dismissed claims that the newly-established entity poses a conflict of interest risk due to its dual role as both regulator and commercial player in the gold industry.
Responding to criticisms largely emanating from the minority in Parliament, members of the New Patriotic Party (NPP) and other public commentators, the Ag CEO clarified that such assertions are misleading and unfounded.
“The Goldbod is not a regulator and a commercial player in the context being alleged,” Mr. Gyamfi stated in a press release. “The Goldbod is simply a monopoly in the trading and export of gold. The regulatory function pertains only to its own licensed agents – not to competitors.”
According to the Ag CEO, the organization’s regulatory authority is limited to ensuring that its licensed service providers, who trade on its behalf, comply with the provisions of the Goldbod Act and its associated regulations. He stressed that the Goldbod will not be policing or overseeing any competing entities in the gold trade sector.
“For emphasis, the Goldbod will not be regulating competitors but rather, its own licensed agents. Thus, the issue of conflict of interest does not arise at all,” Gyamfi reiterated.
The statement forms part one of a broader clarification effort by the Goldbod in response to growing public concerns and political pushback. Part two of the CEO’s response is expected to follow suit soon.
Stay tuned for more updates on this developing story.
Source: Nationaltymes.com
