Sammy Gyamfi Challenges Minority Leader to Bring GoldBod Loss Claims Before Parliament
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Sammy Gyamfi Challenges Minority Leader to Bring GoldBod Loss Claims Before ParliamentGhana Gold Board (GoldBod) Chief Executive Officer Sammy Gyamfi says he is prepared to appear before Parliament to answer allegations that the institution was responsible for major losses linked to the Bank of Ghana’s Domestic Gold Purchase Programme (DGPP).Mr Gyamfi has challenged Minority Leader Alexander Afenyo-Markin to use Parliament’s oversight processes to summon him and give GoldBod the opportunity to present evidence on the matter.Speaking at the government’s Accountability Series on Wednesday, August 19, Mr Gyamfi said he was ready to respond to the allegations in Parliament rather than continue the dispute through media statements and press conferences.Gyamfi Calls for Parliamentary InquiryMr Gyamfi said the Minority Leader could ask Parliament’s Public Accounts Committee to invite him to answer questions about GoldBod’s operations and its alleged involvement in the reported losses.He said he was waiting for an invitation and would appear before the committee whenever called.According to Mr Gyamfi, there was no need for a special parliamentary motion or a specific order from the Speaker before the Public Accounts Committee could examine the issue.He also said he had approached Majority Leader James Agalga and asked that the committee invite him to appear, even if Mr Afenyo-Markin did not initiate such an invitation.GoldBod Rejects Responsibility for Reported LossesMr Gyamfi disputed claims that GoldBod was responsible for losses reported in connection with the DGPP.He argued that a parliamentary inquiry would allow both sides to present evidence and enable Parliament to determine where responsibility for the reported financial losses lies.The GoldBod CEO specifically challenged Mr Afenyo-Markin to provide evidence from the International Monetary Fund report that directly links GoldBod to losses incurred by the Bank of Ghana under the programme.Afenyo-Markin's AllegationsThe challenge comes amid demands from Minority Leader Alexander Afenyo-Markin for GoldBod to account for what he has described as a GH¢22 billion loss involving the state’s gold trading operations.Mr Afenyo-Markin has argued that GoldBod should explain its role in transactions carried out under the Domestic Gold Purchase Programme and account for the financial implications of those activities.Public Accounts Committee Seeks ClarityMeanwhile, Public Accounts Committee Chairperson Abena Osei-Asare has called for an investigation into reports that GoldBod recorded losses of US$1.7 billion, allegedly cited by the International Monetary Fund.She said an inquiry should establish how the reported losses occurred and whether public funds were adequately protected.Mr Gyamfi maintains that bringing the matter before Parliament would provide a formal platform for the competing claims to be tested against evidence.For now, the GoldBod CEO says he remains ready to appear before the Public Accounts Committee and defend the institution against allegations that it was responsible for losses incurred under the DGPP.
Sammy Gyamfi Challenges Minority Leader to Bring GoldBod Loss Claims Before Parliament
Ghana Gold Board (GoldBod) Chief Executive Officer Sammy Gyamfi says he is prepared to appear before Parliament to answer allegations that the institution was responsible for major losses linked to the Bank of Ghana’s Domestic Gold Purchase Programme (DGPP).
Mr Gyamfi has challenged Minority Leader Alexander Afenyo-Markin to use Parliament’s oversight processes to summon him and give GoldBod the opportunity to present evidence on the matter.
Speaking at the government’s Accountability Series on Wednesday, August 19, Mr Gyamfi said he was ready to respond to the allegations in Parliament rather than continue the dispute through media statements and press conferences.
Gyamfi Calls for Parliamentary Inquiry
Mr Gyamfi said the Minority Leader could ask Parliament’s Public Accounts Committee to invite him to answer questions about GoldBod’s operations and its alleged involvement in the reported losses.
He said he was waiting for an invitation and would appear before the committee whenever called.
According to Mr Gyamfi, there was no need for a special parliamentary motion or a specific order from the Speaker before the Public Accounts Committee could examine the issue.
He also said he had approached Majority Leader James Agalga and asked that the committee invite him to appear, even if Mr Afenyo-Markin did not initiate such an invitation.
GoldBod Rejects Responsibility for Reported Losses
Mr Gyamfi disputed claims that GoldBod was responsible for losses reported in connection with the DGPP.
He argued that a parliamentary inquiry would allow both sides to present evidence and enable Parliament to determine where responsibility for the reported financial losses lies.
The GoldBod CEO specifically challenged Mr Afenyo-Markin to provide evidence from the International Monetary Fund report that directly links GoldBod to losses incurred by the Bank of Ghana under the programme.
Afenyo-Markin's Allegations
The challenge comes amid demands from Minority Leader Alexander Afenyo-Markin for GoldBod to account for what he has described as a GH¢22 billion loss involving the state’s gold trading operations.
Mr Afenyo-Markin has argued that GoldBod should explain its role in transactions carried out under the Domestic Gold Purchase Programme and account for the financial implications of those activities.
Public Accounts Committee Seeks Clarity
Meanwhile, Public Accounts Committee Chairperson Abena Osei-Asare has called for an investigation into reports that GoldBod recorded losses of US$1.7 billion, allegedly cited by the International Monetary Fund.
She said an inquiry should establish how the reported losses occurred and whether public funds were adequately protected.
Mr Gyamfi maintains that bringing the matter before Parliament would provide a formal platform for the competing claims to be tested against evidence.
For now, the GoldBod CEO says he remains ready to appear before the Public Accounts Committee and defend the institution against allegations that it was responsible for losses incurred under the DGPP.
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