Lawyer and member of the NDC communications team, Hamza Sayibu Suhuyini, has dismissed claims that Ghana\u2019s gold reserve policy was initiated by the New Patriotic Party (NPP), insisting the policy dates back to the era of Ghana\u2019s first President, Dr Kwame Nkrumah.<\/p>\n
Speaking on JoyNews\u2019 AM Show on Thursday, February 26, Mr Suhuyini said the NPP cannot claim ownership of a policy that was introduced decades ago.<\/p>\n
\u201cUnlike the NPP, the National Democratic Congress understands that this is not a policy that was introduced by the New Patriotic Party,\u201d Hamza stated.<\/p>\n
According to him, the gold-for-reserve policy was first introduced between 1960 and 1961 when Ghana launched its national currency and sought ways to ensure its credibility and strength.<\/p>\n
\u201cIt was launched to give strength and credibility to the Ghanaian currency. That policy has been there since 1961,\u201d he stressed.<\/p>\n
Mr Suhuyini explained that although the policy faced challenges and was temporarily halted in the early 1960s, it resumed later in the decade and continued until around 1980. From the 1980s onward, he said, Ghana continued to accumulate gold in measured quantities.<\/p>\n
\u201cIt is never the brainchild of His Excellency Dr. Mahamudu Bawumia. These are the lies that have been peddled,\u201d he said.<\/p>\n
He added that the NDC is \u201chumble enough to concede\u201d that the policy was instituted by Dr. Nkrumah, and not any recent administration.<\/p>\n
Addressing developments after 2020, Mr Suhuyini acknowledged that the NPP government intensified gold purchases but said the NDC raised concerns about the institutional framework under which the policy was being implemented.<\/p>\n
\u201cBank of Ghana has been buying gold for years. Our concern was the institutional setup,\u201d he explained.<\/p>\n
That concern, he said, informed the NDC\u2019s decision to propose the establishment of a Gold Board to provide regulatory structure and oversight for the sector.<\/p>\n
\u201cGhana\u2019s problem has never been ideas. It has always been the commitment to realistic transformation,\u201d Mr Suhuyini noted.<\/p>\n
He maintained that the Gold Board initiative has brought transparency and certainty to gold transactions.<\/p>\n
\u201cToday, we can comfortably track government\u2019s transactions in the gold sector through Gold Board activities. We have brought some measure of certainty to gold dealers, unlike it used to be under the NPP regime. That transparency is critical if we are to reap the benefits of the sector,\u201d he stated.<\/p>\n
Mr Suhuyini further challenged the NPP to account for the outcomes of its economic policies during its eight years in office.<\/p>\n
\u201cFor eight good years, Ghanaians gave them the mandate. What was the result of their economic policies?\u201d he questioned.<\/p>\n
He concluded that beyond political claims, the real issue remains the tangible impact of policies on the lives of Ghanaians.<\/p>\n
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