Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has challenged Minority Leader Alexander Afenyo-Markin to produce evidence from an International Monetary Fund (IMF) report that directly implicates GoldBod in losses incurred by the Bank of Ghana (BoG) under the Domestic Gold Purchase Programme (DGPP).

🇬🇭 Here's What Happened

The Minority Caucus has stood its ground, insisting that GoldBod must be held accountable for what it describes as a "structural bleeding" of the national purse. At a press conference in Parliament on Tuesday, 18 August 2026, Mr Afenyo-Markin argued that while GoldBod's audited accounts may show a surplus, significant transaction costs were absorbed by the Bank of Ghana and not reflected in the Board's books.

"Yes, we concede that it is the Auditor-General who has conducted an audit, but the Auditor-General was not given access to the full picture," Mr Afenyo-Markin stated. "If the Auditor-General knows that indeed the costs of GoldBod's transaction were borne by the Bank of Ghana, the Auditor-General would not declare a surplus in its accounting report."

The Effutu MP also questioned the commercial rationale behind the reported losses, saying, "You don't trade in gold and make losses. No serious institution loses this much money by accident."

📌 Key Details

He announced that the Minority has filed a motion in Parliament to compel GoldBod's management to account for the losses when the House resumes.

Speaking at the Government Accountability Series, Mr Gyamfi rejected claims that the IMF had identified GoldBod as responsible for the reported losses.

He challenged Mr Afenyo-Markin to identify the specific section of the IMF report supporting that claim.

“I challenge Afenyo-Markin to point to any page, paragraph, sentence, phrase, or punctuation mark in the said reference reports of the IMF where the GoldBod was accused by the IMF as the entity responsible for losses incurred by the Bank of Ghana,” he said.

Sammy Gyamfi said the opposition’s position had shifted from claiming that GoldBod itself had made losses to alleging that the institution was responsible for losses recorded by the Bank of Ghana.

“Their position has now conveniently changed from the old false narrative that the Gold Board made losses to the new false narrative, which is that the Gold Board is responsible for losses incurred by the Bank of Ghana under the domestic gold purchase program,” he said.

📰 Source: Joy Online Ghana