Energy Minister John Abdulai Jinapor has cast doubt on the transparency of the Gold-for-Oil (G4O) program, stating that the initiative is riddled with opacity and lacks the necessary clarity for effective continuation.
The Gold-for-Oil program, which was introduced as a means to leverage the country’s gold reserves in exchange for petroleum products, has come under intense scrutiny.
Critics have repeatedly questioned the program’s operational framework, citing the lack of publicly available information on key transactions and the selection process for participating companies.
The Auditor General’s report, which flagged several irregularities in the program, has further fueled calls for reform.
Speaking to Ahotor News Mr. Jinapor stated that the current system is deeply flawed and will be replaced with a more transparent alternative.
The Minister argued that accessing relevant information about the deals, particularly those involving offshore companies, has proven difficult.
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