By Elsie Appiah-Osei, GNA
Accra, Aug. GNA — The New Patriotic Party Minority Caucus in Parliament is accusing Mr Sammy Gyamfi, the Chief Executive Officer of the Ghana Gold Board (GoldBod), of downplaying an alleged reported GH¢22 billion loss under the Domestic Gold Purchase Programme (DGPP).
A statement signed by Mr Alexander Kwamena Afenyo-Markin, the Minority Leader, and issued to the Ghana News Agency said, “GoldBod’s response to an IMF finding confirms that public funds were lost under the program in 2025.”
According to the statement, the Chief Executive of GoldBod did not dispute the International Monetary Fund’s (IMF’s) finding that Ghana lost US$1.7 billion (GH¢22 billion) under the DGPP in 2025.
“That is public money, whichever state balance sheet it sits on. This is the point he did not address, and it is the point he must now address,” the statement read.
It also challenged GoldBod’s claim of a GH¢907 million surplus, adding that while GoldBod allegedly collected about GH¢833 billion in advances in 2025 and earned GH¢1 billion in fees, the reported surplus ignores the GH¢22 billion loss.
“Strip out the agency fees, and there is no operational surplus to speak of. That is the point he did not address,” the statement stated.
It accused GoldBod of taking credit and avoiding blame, claiming credit for a 41 per cent cedi appreciation and a rise in reserves from US$8.9 billion to US$13 billion, while disowning the DGPP losses and shifting funding responsibility, noting that responsibility for the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) implementation moved from GoldBod to the Ministry of Finance, yet GoldBod is now seeking independent funding.
“We condemn the CEO’s reference to a “brothel” in an official statement as unbecoming of a public officer.
“Ghanaians asked for figures. They were given insults. The figures are still outstanding,” the statement said.
The Minority’s response follows Mr Gyamfi’s rejected claims that the IMF attributed the losses directly to GoldBod, insisting that the report did not accuse the institution of causing the Bank of Ghana’s (BoG) losses.
An IMF report states that the BoG allegedly recorded US$1.7 billion in losses under the Domestic Gold Purchase Programme in 2025.
The DGPP was introduced to help stabilize the cedi and build gold reserves by purchasing gold with cedis locally.
GNA
Edited by Linda Asante Agyei
Reporter: Elsie Appiah-Osei, GNA
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