By Adnan Adams Mohammed
Lawyer Sammy Gyamfi has mounted a fierce defense of the Ghana Gold Board (GoldBod), dismissing recent claims by the New Patriotic Party (NPP) Minority Caucus in Parliament that the institution is running at a loss and mismanaging funds.
Setting the record straight following opposition criticisms, Gyamfi described the Minority’s allegations as completely unfounded and driven by political mischief. He urged the public to rely on verifiable financial reports rather than false narratives aimed at undermining the board’s work.
“It is an incontrovertible fact that the GoldBod declared an operational surplus of GHS 909.7 million and an overall surplus of GHS 5.44 billion for the year 2025,” Gyamfi declared. “These facts are contained in the 2025 audited Annual Report and Financial Statements of the GoldBod prepared by the Auditor-General and published on the GoldBod’s website.”
He noted that the achievements were realized despite significant external economic headwinds and structural adjustments within the industry over recent months.
“In spite of the substantial slump in international gold prices by over 23% since February this year, and the significant reduction of GoldBod’s pricing incentives due to the cutting down of baseline program implementation from about 14% to 6%, the GoldBod has remained on course,” Gyamfi stated. He added that the board continues to achieve remarkable success in “the volume of gold purchases, foreign exchange generation, support for gold reserve accumulation, local value addition, support for sustainability initiatives, and the achievement of our surplus target for the 2026 financial year.”
Turning his attention directly to the opposition, Gyamfi criticized the Minority leadership for spreading what he termed misinformation intended to mislead the public regarding state institutions.
“The media and general public are respectfully advised to treat with utmost contempt, the discredited cacophony of lies being rehashed in recent times about GoldBod’s operations by certain elements in the Minority Caucus in Parliament,” he urged.
“Led by their pathetically ignorant Leader, Afenyo-Markin, these Members of Parliament continue to make spurious claims to the effect that the GoldBod is recording losses and siphoning public funds. These ridiculous claims can only be a figment of the imaginations of these incorrigible MPs who ought to know better,” Gyamfi added. “Sadly, they have no interest in learning nor any regard for the truth. You take them serious at your own peril.”
Concluding his address, Gyamfi reiterated that the GoldBod remains steadfast in executing its strategic objectives and will not be sidetracked by political commentary.
“The GoldBod remains focused on the delivery of its mandate for the benefit of Ghanaians. We will not be distracted by misguided noise,” he asserted. “For we know, that the impact of the success story of the GoldBod shall outlive the hate-driven campaign of calumny being waged by our detractors.”
