Acting Chief Executive Officer of the Ghana Gold Board (GoldBod), Lawyer Sammy Gyamfi, has dismissed allegations by some members of the New Patriotic Party (NPP) Minority Caucus that the state gold trading agency is making losses and misappropriating public funds.
In a statement, Mr. Gyamfi described the claims as false and misleading, insisting that GoldBod remains financially strong and continues to deliver on its mandate.
He said GoldBod recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion for the 2025 financial year. According to him, the figures are contained in the institution’s 2025 audited Annual Report and Financial Statements, prepared by the Auditor-General and published on GoldBod’s official website.
Mr. Gyamfi further stated that despite a more than 23 percent decline in international gold prices since February this year and a reduction in GoldBod’s pricing incentives from about 14 percent to 6 percent, the institution has continued to make significant progress.
He said GoldBod remains on track to achieve its 2026 financial targets, citing increased gold purchases, foreign exchange generation, support for Ghana’s gold reserve accumulation, local value addition and sustainability initiatives as evidence of its strong performance.
The GoldBod CEO urged the media and the public to disregard what he described as “falsehoods” being circulated by some members of the Minority Caucus regarding the agency’s operations.
He specifically criticised Minority Leader Alexander Afenyo-Markin and some NPP MPs, accusing them of making baseless allegations that GoldBod is recording losses and siphoning public funds.
According to Mr. Gyamfi, the accusations are unsupported by facts and are intended to undermine the work of the institution.
He stressed that GoldBod would remain focused on executing its mandate to maximise the benefits of Ghana’s gold resources for the country, adding that the agency would not be distracted by what he described as politically motivated attacks.
The latest response comes amid growing political exchanges over the performance and financial management of the Ghana Gold Board, with both the government and the opposition offering contrasting assessments of the institution’s operations.
Story By: Eric Boateng
