Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has rejected claims that the state-owned gold-buying institution incurred losses of $1.7 billion in 2025, describing the allegation as a “barefaced lie”.
According to Mr Gyamfi, the reported figure does not reflect GoldBod’s actual financial performance for the 2025 financial year.
Speaking at the Government Accountability Series on Wednesday, August 19, 2026, Mr Gyamfi accused the opposition, particularly Minority Leader Alexander Afenyo-Markin, of repeatedly making the claim in Parliament and through the media.
He said GoldBod had on several occasions disputed the allegation, insisting that the institution’s audited financial statements present a significantly different picture of its financial performance.
Mr Gyamfi said the audited accounts should form the basis for assessing GoldBod’s financial performance rather than what he described as politically motivated claims.
“Afenyo-Markin and his followers alleged on several occasions on the floor of Parliament and in the media that the Ghana Gold Board made losses in the year 2025 repeatedly. This claim is a barefaced lie which has been debunked times without number by the GoldBod.
“The audited annual reports and financial statements of the GoldBod for the year ended December 31, 2025, prepared and published by the Auditor General of Ghana, disclose an operational surplus of GHS907 million and an overall surplus of profits of GHS5.4 billion. This is an incontrovertible fact,” he said.
