The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed 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 maintained that GoldBod’s audited accounts should form the basis for assessing its financial position rather than what he described as politically motivated claims.
“Afenyo-Markin and his followers alleged on several occasions on the floor of Parliament and 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,” he said.
He cited GoldBod’s audited annual report and financial statements for the year ended December 31, 2025, as evidence of the institution’s financial performance.
According to Mr Gyamfi, the statements, prepared and published by the Auditor-General, show that GoldBod recorded an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion.
“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.
Mr Gyamfi’s comments come amid growing calls for scrutiny of GoldBod’s financial operations and conflicting claims over the institution’s reported performance.
He has consistently maintained that GoldBod did not incur the alleged $1.7 billion loss and has challenged critics to rely on the institution’s audited financial statements in assessing its performance.
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