The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has hit back at Minority Leader Alexander Afenyo-Markin over his warning that officials of the current administration, including GoldBod executives, could face “scary” bail conditions if the New Patriotic Party (NPP) returns to power.
Mr Gyamfi dismissed the warning as an intimidation tactic and said he remained unfazed by threats arising from his work at GoldBod.
“So I will go to prison in his brain, and I will have onerous bail terms in his brain. I am not afraid of any intimidating tactics because we are serving Ghana in good conscience, and our results and posterity will speak for us,” he said.
Mr Gyamfi was speaking at the Government Accountability Series on Wednesday, August 19, 2026, in response to comments made by Mr Afenyo-Markin and the Minority Caucus at a press conference on Tuesday.
The latest exchange has intensified a political dispute over reported losses linked to the Bank of Ghana’s Domestic Gold Purchase Programme (DGPP), with the Minority Leader demanding accountability from GoldBod over what he describes as GH¢22 billion in losses.
Mr Gyamfi, however, rejected the allegations and challenged Mr Afenyo-Markin to use Parliament’s oversight mechanisms to invite him to account for GoldBod’s operations.
He said he was ready to appear before Parliament and provide evidence to support the institution’s position.
“There has been a call for a parliamentary probe, and I’ve already stated on public record that I’m waiting with bated breath for Afenyo-Markin’s invitation,” he said.
According to Mr Gyamfi, the Public Accounts Committee (PAC) already has the authority to summon him without the need for a special parliamentary motion or an order from the Speaker.
“I don’t know why he’s delaying and holding press conferences when, as Minority Leader, he can get the Public Accounts Committee to summon me tomorrow or today, and I will appear,” he said.
He said he had also appealed to the new Majority Leader, James Agalga, to facilitate an invitation should the Minority Leader fail to do so.
Mr Gyamfi argued that a parliamentary inquiry would allow both sides to present evidence and establish whether GoldBod was responsible for the reported losses.
“You don’t need any special motion; you don’t need any special order by the Speaker. Just get the Public Accounts Committee to invite us and come and sit down there and demonstrate to the whole nation where the Gold Board made losses or how the Gold Board is to blame for losses made by another institution,” he said.
‘Palm Wine Bar’ Commentary
The GoldBod CEO also took a swipe at Mr Afenyo-Markin over the quality of his recent commentary, describing some of his statements as reckless and lacking substance.
“So you see, such statements are reckless. They are what I call the fanciful effusions of a palm wine bar. You take it as comic relief,” Mr Gyamfi said.
He further criticised what he described as a decline in the standard of debate associated with the Minority Leader’s position.
Mr Gyamfi compared Mr Afenyo-Markin with former occupants of the position, including J.H. Mensah, Papa Owusu-Ankomah and Osei Kyei-Mensah-Bonsu, whom he said were known for their depth and commanding contributions in Parliament.
“And look at how this seat has now been sold, bastardised and depraved by a noisemaker who cannot even read and research and get his facts right,” he said.
GoldBod Defends Record
Mr Gyamfi also defended GoldBod’s performance, arguing that the institution had made significant progress in developing Ghana’s gold value chain and expanding local refining.
He contrasted the current situation with the previous administration, claiming that no gold was refined locally during its tenure.
“Under your tenure, not a gram of gold was refined in Ghana, but today over 9 million tonnes of gold we have bought is refined here in Ghana, and we are changing the value addition story of the country,” he said.
He maintained that GoldBod’s record should be assessed on the basis of its actual performance rather than political accusations.
PAC Chair Calls for Probe
Meanwhile, the Chairperson of Parliament’s Public Accounts Committee, Abena Osei-Asare, has called for an investigation into reports that GoldBod recorded losses amounting to US$1.7 billion, allegedly cited by the International Monetary Fund (IMF).
She said an inquiry was necessary to establish how the reported losses occurred and whether public funds were adequately protected.
Mr Gyamfi has, however, challenged Mr Afenyo-Markin to produce evidence from the IMF report directly linking GoldBod to losses incurred by the Bank of Ghana under the DGPP.
The GoldBod CEO insists that Parliament—not press conferences—should be the battleground for the claims, saying he is ready to face the Minority and defend the institution with evidence.
“I’m not afraid of any intimidating tactics because we are serving Ghana in good conscience, and our results and posterity will speak for us,” Mr Gyamfi said.
