The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has strongly rejected claims by Minority Leader Alexander Afenyo-Markin that the institution recorded losses, describing the assertions as a “blatant lie” and a “figment of his hallucinatory imagination.”
In an X post on Monday, August 17, 2026, Gyamfi attached page 16 of the audited Annual Report and Financial Statements of the Ghana Gold Board for the year ended December 31, 2025.
The document, prepared and published by the Auditor-General of the Republic of Ghana, reports an operational surplus (profit) of GH¢907 million and an overall surplus (profit) of GH¢5.4 billion.
“The blatant lie being persistently peddled by Afenyo-Markin that the GoldBod has made losses is only a figment of his hallucinatory imagination. What a joke of a Minority Leader he is,” Gyamfi stated.
He emphasised that the figures were drawn from the official audited report issued by the Auditor-General, adding: “For the avoidance of doubt, this audit report was prepared and published by the Auditor-General of the Republic of Ghana. Facts are sacrosanct.”
Gyamfi’s response comes amid ongoing public commentary by the Minority Leader regarding the financial performance of GoldBod and the Domestic Gold Purchase Programme.
Earlier, Minority Leader Afenyo-Markin accused GoldBod of failing, citing an International Monetary Fund (IMF) report which he said revealed losses of more than US$1.7 billion from the Domestic Gold Purchase Programme.
According to the Minority Leader, the scale of the losses disclosed by the IMF raises serious questions about the performance and financial sustainability of the programme implemented through GoldBod.
The Member of Parliament for Effutu, speaking on Accra-based Peace FM, stressed that the figures were not his own assessment but were contained in the IMF’s report on Ghana.
“GoldBod is failing. The IMF is saying. I am not the one saying. It is the IMF saying it has incurred over GH¢1.7 billion,” he said.
Afenyo-Markin also criticised what he described as attacks on individuals who raise concerns about the programme, saying critics are subjected to insults and online attacks.
The IMF Country Report No. 26/213 states that the significant scaling up of the Domestic Gold Purchase Programme in 2025 resulted in losses exceeding US$1.7 billion, equivalent to about 1.5% of Ghana’s GDP.
