Chief Executive Officer of the Social Investment Fund and the Ashanti Regional Communications officer of the National Democratic Congress, Mr. Abass Nurudeen has disclosed that the CEO of Goldbod Mr. Sammy Gyamfi is prepared to face a parliamentary inquiry on the allegations of Goldbod making losses.
According to him, the minority is doing everything possible to ensure that Goldbod fails in its activities and so will go at length to do so.
Minority Leader Alexander Afenyo-Markin accused the Ghana Gold Board (GoldBod) and its management of incompetence and financial mismanagement following reports of a $1.7 billion loss (about GH¢22 billion) linked to the Domestic Gold Purchase Programme (DGPP).
Afenyo-Markin stated that GoldBod cannot hide behind accounting technicalities, arguing that trading gold should not result in such massive, undisclosed losses. He asserted that the figures expose serious flaws in the government’s policy and management
However, speaking on Okay Fm’s Ade Akye Abia programme, he explained that GoldBod cannot be blamed when it is only an agent contracted by the Bank of Ghana to purchase gold for the Domestic Gold Purchase Programme (DGPP)
The Bank of Ghana determines the off-take discount, so why should the Minority blame GoldBod for any losses, he quizzed.
However, I can assure you that Mr. Sammy Gyamfi is ever ready to appear before any parliamentary inquiry to answer questions and lecture the minority on how goldbod does its gold trading activities.
Parliament To Probe Disputed 22BN Ghana Cedis Goldbod Figure
The Speaker of Parliament, Alban Bagbin, says the House will scrutinise the reported US$1.7 billion loss, equivalent to about GH¢22 billion, recorded under the Domestic Gold Purchase Programme (DGPP) to settle the controversy over the transactions.
His comments follow a motion filed by the Minority Caucus seeking a parliamentary inquiry into the reported loss and the summoning of Ghana Gold Board (GoldBod) Chief Executive Officer, Sammy Gyamfi, to explain the transactions.
According to Speaker Bagbin, Parliament’s scrutiny will help determine whether the reported US$1.7 billion represents an actual financial loss or a policy cost incurred in implementing the Domestic Gold Purchase Programme.
He said the motion, which was received by his office on August 21, 2026, would be admitted for consideration.
“With the motion they have filed, which was received in my office on the 21st of August, 2026, just three days ago, I have gone through the motion myself and I intend to admit the motion because we have to at least have an end to litigation as to whether it’s a loss or it’s a cost,” he said.
Speaker Bagbin said the parliamentary process would allow lawmakers to examine the matter and provide clarity on the reported figure.
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