Minority Leader Alexander Afenyo-Markin has criticised Ghana Gold Board (GoldBod) CEO Sammy Gyamfi over the tone of his response to questions raised by the Minority about reported losses under the Domestic Gold Purchase Programme.
Mr Afenyo-Markin said Ghanaians expected clear explanations and figures concerning the management of public funds, rather than what he described as insulting responses.
His comments followed Mr Gyamfi’s appearance at the Government Accountability Series on Wednesday, August 19, 2026, where he responded to the Minority’s allegations concerning GoldBod’s financial and operational performance.
In a statement issued after considering the GoldBod CEO’s response, Mr Afenyo-Markin said the Minority remained dissatisfied with the explanations provided.
He particularly criticised a reference by Mr Gyamfi to a “brothel”, describing it as inappropriate for a statement by a public officer accounting for public funds.
“The Chief Executive’s reference to a brothel does not belong in a statement issued by a Public Officer accounting for public funds,” Mr Afenyo-Markin said.
He maintained that the central questions raised by the Minority remained unanswered.
“Ghanaians asked for figures. They were given insults. The figures are still outstanding,” he said.
The Minority Leader’s criticism comes amid a dispute over the reported US$1.7 billion, or approximately GH¢22 billion, loss under the Domestic Gold Purchase Programme in 2025.
According to Mr Afenyo-Markin, the GoldBod CEO did not dispute the loss reported by the International Monetary Fund but instead challenged attempts to attribute the loss to GoldBod.
The Minority Leader, however, argued that the identity of the institution carrying the loss did not change its significance as a loss to the state.
“This is public money, whichever State balance sheet it sits on,” he said.
He also questioned GoldBod’s reported GH¢907 million operational surplus, arguing that the figure had to be considered alongside fees earned from the programme.
Mr Afenyo-Markin said GoldBod accounted for approximately GH¢133 billion in advances in 2025 and received assay and service fees which, according to the Minority’s calculation, amounted to about GH¢1 billion.
He argued that the reported surplus was therefore lower than the fees generated from a programme that recorded the reported GH¢22 billion loss.
The Minority Leader insisted that these financial issues required clear explanations and accountability.
He said the reported loss, as cited in the IMF’s August 2026 Sixth Country Report, represented a financial loss to the Republic and must be accounted for.
The dispute follows the Minority’s press conference on Tuesday, August 18, 2026, after which GoldBod, through its CEO, responded during the Government Accountability Series.