Nat’l Tymes News Desk
THE ACTING Chief Executive Officer of the Ghana Gold Board (GoldBod), Lawyer Sammy Gyamfi, has strongly dismissed allegations by some members of the Minority Caucus in Parliament that the state-owned institution is recording losses and mismanaging public funds.
In a statement, Mr Gyamfi described the claims as false and misleading, insisting that GoldBod remains financially strong and continues to deliver on its mandate despite challenging conditions in the global gold market.
According to him, GoldBod recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion for the 2025 financial year. He said these figures are contained in the institution’s audited 2025 Annual Report and Financial Statements prepared by the Auditor-General and published on GoldBod’s official website.
Mr Gyamfi noted that the audited financial statements provide clear evidence of the institution’s financial performance and urged the public to rely on verified official records rather than the politically motivated claims.
He further explained that GoldBod has continued to perform strongly in 2026 despite a decline of more than 23 per cent in international gold prices since February this year. He also pointed to a reduction in the Board’s pricing incentives following the scaling down of its baseline programme implementation from about 14 per cent to six per cent.
Despite these challenges, he said GoldBod remains on course to achieve its targets for the 2026 financial year. He added that the institution continues to make significant gains in gold purchases, foreign exchange generation, support for Ghana’s gold reserve accumulation, local value addition, sustainability initiatives and the achievement of its projected financial surplus.
Responding directly to criticisms from the Minority Caucus, Mr Gyamfi accused some opposition Members of Parliament of spreading misinformation about the operations of the Gold Board. He maintained that allegations suggesting the institution is making losses or siphoning public funds are unfounded and unsupported by facts.
He urged the media and the public to treat such allegations with caution and instead refer to the audited financial statements and other official reports for accurate information on the institution’s performance.
Mr Gyamfi stressed that GoldBod remains committed to its mandate of maximising value from Ghana’s gold resources for the benefit of the country and its citizens. He assured Ghanaians that the Board would not be distracted by political criticism but would continue to focus on delivering results.
The Minority Caucus has in recent weeks raised concerns over the operations and financial management of GoldBod. However, the Board insists its audited accounts and ongoing performance demonstrate that it remains financially sound and continues to contribute significantly to Ghana’s economy.
Source: Nationaltymes.com
