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.”
Mr Gyamfi said the reported figure does not reflect GoldBod’s actual financial performance for the 2025 financial year, insisting that the institution’s audited accounts present a significantly different picture.
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 consistently disputed the allegation and maintained that its audited annual reports and financial statements should be the basis for assessing its financial performance.
According to Mr Gyamfi, the audited accounts for the year ended December 31, 2025, show that GoldBod recorded an operational surplus of GH¢907 million and an overall profit surplus of GH¢5.4 billion.
“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.
“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.
