NPP GERMANY
PRESS RELEASE
02—01—2026
Ghana’s Golden Mirage: Exposing NDC Darling Boy Sammy Gyamfi’s Furtive Gold Merchants In The Black Box—NPP GERMANY
Ghana’s gold should be a source of prosperity, not a theatre of secrecy. Yet today we find ourselves confronting the most opaque chapter in our economic history — the Ghana Gold Board, or GoldBod, presided over by Sammy Gyamfi, has become a black box of misadventure, political cover-ups and unanswered questions.
In its Fifth Review of Ghana’s IMF programme, the International Monetary Fund revealed that the Bank of Ghana has suffered losses of US$214 million through the Gold for Reserves programme linked to GoldBod operations.
These aren’t trivial accounting discrepancies — they speak to a massive public policy gamble with real fiscal consequences.
In this day and age, who sells Gold and makes losses?? John Mahama claimed NPP incurred losses selling alcoholic beverages at GIHOC. So we now ask, alcohol and Gold, which of these commodities is the most sought after essential commodity on the world market??
Rather than acknowledge these losses with the seriousness they deserve, GoldBod’s CEO, Sammy Gyamfi, launched into political recriminations.
We are simply scrutinising current losses under GoldBod — losses documented by the IMF — and demanding transparency from those now in charge.
Sammy Gyamfi’s defense itself twists the facts. He has argued that the current administration oversaw larger volumes of gold purchases, implying that heavier activity somehow excuses the losses.
This is economic distraction, not explanation. High volumes do not justify losses — especially when no public accounting has been made available detailing sources, counterparties, pricing mechanisms, contracted off-takers, storage and shipment costs, or the logic that drove these trades.
Even worse, independent scrutiny has found contradictions in the CEO’s own accounts.
A civil society group pointed out that Gyamfi first denied any losses.
These are not minor disputes — they are mutually exclusive claims from the same official.
This litany of misrepresentations should alarm every Ghanaian who believes in public accountability.
Government institutions exist to serve Ghanaians, not to be dressed in political spin and shielded from scrutiny by opaque communications.
Yet Sammy Gyamfi and the NDC have mounted a defense that blames critics for political motives, dismissing calls for inquiry as “hostility” and “selective criticism.”
This language is reminiscent of regimes that weaponise guilt by criticism instead of confronting facts head-on.
The NDC’s posture only underscores its deeper failure: a reluctance to allow Ghanaian citizens to see how their gold — the foundation of our heritage — is being managed.
GoldBod was sold to the public as a sovereignty-enhancing institution: a way to curb smuggling and ensure Ghana keeps more value from its mineral wealth.
But the absence of published audited financials, public contracts, independent oversight reports or parliamentary scrutiny makes GoldBod less a sovereign triumph and more an economic black hole.
The IMF’s report is not a political document — it is a technical assessment of fiscal risks in a programme supported by IMF financing. Ghana’s current budgeting and fiscal policy are tied to ongoing IMF engagement.
To disparage the Fund for exposing losses in that programme is to attack the very structure underpinning our recovery.
It is yet another irony that the NDC once wielded IMF reports as weapons against the NPP’s economic management, only now to denounce those same institutions when inconvenient.
Ghana does not lack for accountability mechanisms. We have auditors, parliamentary committees, public financial management laws, and electoral mandates. Yet GoldBod has so far eluded meaningful transparency in all these arenas.
Even as Sammy Gyamfi boasts of plans like local refining and anti-smuggling systems, these initiatives ring hollow when the board’s foundational finances are kept in the dark.
The public deserves to know: where is the list of licensed operators? Who are the off-takers? What are the fees? Which contracts were signed? At what prices was gold purchased compared to global benchmarks?
Without meeting these simple standards of openness, GoldBod’s operations remain ripe for suspicion and ripe for reckless abuse and misuse.
Ghana’s gold is not a playground for political posturing. It belongs to all Ghanaians, and any institution entrusted with its trade must answer to the people — in full, with data, not slogans.
It is time for a fully transparent audit, a parliamentary inquiry and the immediate release of all GoldBod financial statements, contracts and operational reports.
Anything less is a betrayal of the public trust and a desecration of Ghana’s golden heritage.
God Bless Our Homeland Ghana!!!
Long Live Ghana, long live the Elephant Party!!!!
Kukruduuuu Eeeessshiii!!!
Signed:
Nana Osei Boateng
NPP GERMANY
Communications Director
