Ghana Gold Board (GoldBod) Chief Executive Officer Sammy Gyamfi has hit back at Minority Leader Alexander Afenyo-Markin over his warning that the institution’s leadership could face “scary” bail conditions if the New Patriotic Party (NPP) returns to power.
Mr Gyamfi dismissed the comments as misplaced, arguing that the Minority Leader had failed to properly assess GoldBod’s performance before making such claims.
He said GoldBod had made significant progress in transforming Ghana’s gold value chain, particularly through the expansion of local refining and value addition.
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“Under your tenure, not a gram of gold was refined in Ghana, but today over 9 million tonnes of gold we have bought is refined here in Ghana, and we are changing the value addition story of the country,” Mr Gyamfi said.
The GoldBod CEO was responding to comments made by Mr Afenyo-Markin at a press conference on Tuesday, August 18, where the Minority Leader warned that officials of the current administration, including GoldBod executives, could face difficult bail conditions should the NPP return to power.
Mr Afenyo-Markin’s warning was linked to his allegations of significant financial losses at GoldBod.
However, Mr Gyamfi rejected what he described as attempts to intimidate the leadership of the institution, insisting that GoldBod’s record should be judged on its results.
He described Mr Afenyo-Markin’s remarks as “the fanciful efficiency of a palm wine bar”, suggesting that they should be treated as comic relief rather than serious parliamentary commentary.
Mr Gyamfi also criticised the Minority Leader for what he described as a decline in the quality of debate compared with previous occupants of the position, including the late J.H. Mensah, Papa Owusu-Ankomah and Osei Kyei-Mensah-Bonsu.
“So I will go to prison in his brain, and I will have onerous bail conditions in his brain, and I am not afraid of any intimidating tactics because we are serving Ghana in good conscience and our results and posterity will speak for us,” Mr Gyamfi said.
His comments came during the Government Accountability Series on Wednesday, August 19, 2026, where he responded to concerns raised by the Minority Caucus over GoldBod’s financial performance.
The exchange adds to growing political tensions surrounding GoldBod, with the opposition raising questions about alleged losses under the institution’s Domestic Gold Purchase Programme, while the GoldBod leadership maintains that its operations are contributing to the development of Ghana’s gold industry.
Mr Gyamfi has previously acknowledged that GoldBod has recorded losses but urged critics to present the figures accurately and in their proper context.
The latest confrontation is expected to intensify the political debate over GoldBod’s finances, operations and contribution to Ghana’s economy.