The Chief Executive Officer of the Ghana Gold Board (GoldBod), Lawyer Sammy Gyamfi, has strongly dismissed allegations by some members of the New Patriotic Party (NPP) Minority Caucus that the state-owned institution is making losses and misappropriating public funds.
Responding to what he described as “false claims” by sections of the Minority in Parliament, Mr. Gyamfi maintained that GoldBod remains financially strong and continues to deliver on its mandate despite challenges in the global gold market.
According to him, GoldBod recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion for the 2025 financial year. He noted that these figures are contained in the institution’s audited 2025 Annual Report and Financial Statements prepared by the Auditor-General and published on GoldBod’s official website.
Mr. Gyamfi further disclosed that although international gold prices have fallen by more than 23 percent since February this year and GoldBod has significantly reduced its pricing incentives by scaling down its baseline programme implementation from about 14 percent to 6 percent, the institution has continued to chalk up impressive results.
He said GoldBod has remained on course in increasing gold purchases, generating foreign exchange, supporting Ghana’s gold reserve accumulation, promoting local value addition, advancing sustainability initiatives and achieving its surplus target for the 2026 financial year.
The GoldBod CEO urged the media and the general public to disregard what he termed the “recycled falsehoods” being propagated by certain members of the Minority Caucus, insisting that the allegations are baseless and unsupported by facts.
He accused the Minority, led by Minority Leader Alexander Afenyo-Markin, of making what he described as spurious claims that GoldBod is recording losses and siphoning public funds, stressing that such assertions are contrary to the institution’s audited financial records.
Mr. Gyamfi said GoldBod would remain focused on executing its mandate for the benefit of Ghanaians and would not be distracted by what he called politically motivated attacks.
He expressed confidence that the institution’s achievements and contribution to Ghana’s economy would ultimately outweigh what he described as a sustained campaign of misinformation by its critics.
