Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi
Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has hit back at Minority Leader Alexander Afenyo-Markin, accusing him of mounting what he describes as a sustained campaign of allegations against the institution in an attempt to pressure its management.
The latest exchange comes amid an escalating dispute over GoldBod’s financial performance, with Mr Afenyo-Markin alleging that the institution has incurred a GH¢22 billion loss.
The Effutu Member of Parliament has also warned that some current GoldBod officials could face stringent bail conditions should the New Patriotic Party (NPP) return to power.
Mr Gyamfi, however, has strongly rejected the allegations, describing them as false and challenging critics to rely on GoldBod’s audited 2025 financial statements.
According to him, GoldBod recorded an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion for the financial year ended December 31, 2025.
He further defended the institution’s performance in the local gold value chain, highlighting its efforts to promote refining, value addition and greater transparency within Ghana’s gold sector.
Mr Gyamfi accused his critics of deliberately spreading falsehoods to damage GoldBod’s reputation and pressure its management into what he described as an inappropriate settlement arrangement.
“These are devious extortionists and political mercenaries who will come at you with lies to tarnish your reputation in the hope that you will fold and settle for what they call ‘compulsory arbitration’ and through that, oil their palms,” he said.
The GoldBod CEO maintained that he would not be intimidated by the allegations or threats arising from the ongoing political dispute over the institution’s financial performance.
“Well, this time around, they found the wrong target,” Mr Gyamfi added.
The exchange has further intensified the political debate surrounding GoldBod’s financial position, with both sides maintaining sharply contrasting views over the institution’s performance and management.
