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Attractive News Blog of Monday, 29 December 2025
Source: Andre Mustapha NII okai Inusah
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed calls by the Minority Caucus in Parliament for a probe into alleged losses under the Bank of Ghana’s Gold-for-Reserves programme, describing the move as hypocritical and politically dishonest.
The Minority, led by Kojo Oppong Nkrumah, MP for Ofoase Ayirebi and Ranking Member on Parliament’s Economy and Development Committee, is demanding a parliamentary investigation into reported losses amounting to $214 million, including possible criminal prosecutions if negligence or corruption is established.
However, reacting in a social media post on Monday, December 29, Sammy Gyamfi argued that the Minority’s posture amounts to a double standard, noting that far greater losses were recorded under the previous New Patriotic Party (NPP) administration.
According to him, the Bank of Ghana incurred cumulative losses of GHS7 billion under the Gold-for-Oil (G4O) and Gold-for-Reserves (G4R) programmes during the NPP era, compared to GHS3.3 billion under the current management.
“Now here is the interesting paradox; the NPP under whom the BoG made cumulative losses of GHS7 billion… is calling for a probe into how the BoG and GoldBod have reduced their losses to GHS3.3 billion. Lol! What a joke!” he stated.
