The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has described Minority Leader Alexander Afenyo-Markin’s continued allegations against the institution as a “desperate smear campaign”.
Speaking at the Government Accountability Series on Wednesday, August 19, 2026, Mr. Gyamfi said the Minority’s claims about GoldBod’s financial performance were not supported by the institution’s audited accounts.
He said the Auditor-General’s 2025 audited financial statements showed that GoldBod recorded an operational surplus of GH¢907 million and an overall surplus of more than GH¢5.4 billion.
The comments follow a press conference by the Minority on Tuesday, August 18, where Afenyo-Markin raised concerns about GoldBod’s financial performance and its alleged connection to the US$1.7 billion loss recorded by the Bank of Ghana under the Domestic Gold Purchase Programme (DGPP) in 2025.
According to Mr. Gyamfi, the Minority initially alleged that GoldBod itself had incurred losses but shifted its argument after the institution’s audited accounts contradicted that claim.
He said the new allegations seek to associate GoldBod with losses recorded by the Bank of Ghana under the DGPP, despite the IMF not identifying GoldBod as responsible for those losses.
Mr. Gyamfi described the continued allegations as part of a deliberate effort to undermine GoldBod.
“Let me state that the persistent noise from people like him does not arise from any genuine quest for accountability or any sincere desire to interrogate the operations of the GoldBod. Rather, it is part of a calculated smear campaign aimed at undermining the significant contribution that the GoldBod is making to the economic transformation agenda of President Mahama’s administration.”
He further accused Afenyo-Markin of using political attacks to discredit the institution.
“Afenyo-Markin’s continuing antics must therefore be seen for what they are – a desperate smear campaign by persons who have specialised in sophistry and political blackmail in pursuit of selfish ends.”
Mr. Gyamfi said the Minority’s allegations should be subjected to evidence rather than repeated publicly without supporting facts.
“The Ghanaian people deserve serious public discourse founded on facts, evidence and truth, not an endless recycling of falsehoods in the hope that repetition will lend them credibility and turn fiction into facts.”
He maintained that GoldBod had nothing to hide and was prepared to account for its operations through the appropriate parliamentary processes.
The GoldBod CEO said the institution would continue to focus on its mandate despite the controversy surrounding its financial performance and the DGPP.
Source: Starrfm.com.gh
