Omanghana
Minority Leader Alexander Afenyo-Markin has adopted a measured response to allegations directed at him by Ghana Gold Board Chief Executive Officer Sammy Gyamfi, invoking the biblical example of Jesus Christ to explain why he would not be drawn into an emotional political confrontation. The Effutu MP declined to confirm whether he would proceed with threatened legal action against the GoldBod CEO.
The two political figures have been involved in an increasingly hostile exchange over reported losses associated with the Bank of Ghana’s Domestic Gold Purchase Program and GoldBod’s role in the country’s gold-trading arrangements.
Afenyo-Markin Invokes Biblical Example
Afenyo-Markin said he was aware of the accusations made against him but would not respond impulsively.
“In the Bible, Jesus was accused—wild allegations. He kept quiet and watched them. He could have done anything,” he stated.
The Minority Leader said Ghanaians expected maturity from him because of the leadership position he occupies.
He argued that retaliating emotionally whenever he was attacked would distract him from his responsibility to scrutinize the government.
“It’s not an emotional game. It’s not a game that somebody attacks you, you should also react,” he said.
Earlier Threat of Legal Action Softens
Afenyo-Markin had previously indicated that he would explore legal remedies over statements he considered defamatory, including allegations portraying him as an extortionist.
However, when asked directly whether he would sue Gyamfi, the Minority Leader declined to make a firm commitment.
He instead said he would rely on his earlier statements and cautioned observers not to rush to conclusions.
His latest position appears less confrontational than his initial threat, although he maintained that the Minority Caucus had taken appropriate steps over what he described as unacceptable language.
Dispute Centers on Gold Program Losses
The controversy began after the Minority raised concerns about losses reported under the Domestic Gold Purchase Program.
Afenyo-Markin argued that although GoldBod’s accounts might record a surplus, they did not necessarily reflect the full cost of transactions allegedly absorbed by the Bank of Ghana.
He questioned whether transaction margins, fees and other expenses within the gold-purchasing chain were being presented transparently.
The Minority Leader maintained that its criticism was based on findings contained in International Monetary Fund reports and other financial documents.
He described the matter as one of national importance and said Parliament must investigate how the program’s costs were distributed between GoldBod and the central bank.
Sammy Gyamfi Rejects Minority’s Interpretation
Gyamfi has strongly disputed claims that GoldBod incurred or directly caused the reported losses.
He challenged Afenyo-Markin to identify any page, paragraph or sentence in the relevant IMF reports that blamed GoldBod for the Bank of Ghana’s losses.
According to the GoldBod CEO, the IMF reported losses associated with the central bank’s sale of gold under the Domestic Gold Purchase Program. He argued that this was different from concluding that GoldBod itself had made the losses.
Gyamfi acknowledged that the IMF’s analysis referred to fees paid to GoldBod as one component of the central bank’s costs. However, he insisted that this did not make the Board responsible for the total losses.
He also maintained that GoldBod had accounted for state funds advanced to it and recorded a surplus from its operations.
The competing positions now center on whether the Board’s own financial statements provide a complete picture of the program or whether significant costs were carried separately by the Bank of Ghana.
Gyamfi Defends His Counterattack
Gyamfi has denied insulting the Minority Leader, arguing that his comments were a proportionate response to serious allegations about his work and integrity.
He said Afenyo-Markin was entitled to criticize him but was equally open to public scrutiny.
The GoldBod CEO subsequently raised counter-allegations concerning Afenyo-Markin’s previous leadership roles at state utility companies. Those claims have been rejected by the Minority Leader.
Gyamfi maintained that his response should be viewed in the context of the broader exchange rather than as an unprovoked personal attack.
Minority Seeks Parliamentary Inquiry
Afenyo-Markin said the Minority had filed a parliamentary motion seeking an inquiry into the reported gold-program losses.
He expressed hope that Parliament would establish an ad hoc committee to examine the transactions and complete its work before consideration of the 2027 Budget.
The Minority Leader also called for any committee proceedings to be broadcast live, arguing that the public should be allowed to follow the evidence and reach its own conclusions.
He accused the government of attempting to divert attention from the substantive financial questions by turning the dispute into a personal confrontation.
Afenyo-Markin said he would not allow that strategy to derail the Minority’s demand for accountability.
GoldBod Debate Intensifies
The dispute reflects growing political scrutiny of Ghana’s state-backed gold-trading system, including the relationship between GoldBod, the Bank of Ghana and the domestic gold-purchasing program.
At the center of the debate are questions about transaction costs, accounting treatment, institutional responsibility and whether public financial reports provide a complete representation of the program’s performance.
Afenyo-Markin insists that parliamentary scrutiny is necessary, while Gyamfi maintains that the allegations against GoldBod are misleading and unsupported by the IMF’s findings.
Source: Omanghana
