Sammy Gyamfi, Chief Executive Officer of GoldBod, has defended the management of Ghana’s gold reserves, asserting that parliamentary committees have already scrutinized and addressed concerns surrounding recent transactions.
In a Facebook post on March 18, 2026, Gyamfi dismissed claims by former Finance Minister Mohammed Amin Adam that more than half of the country’s gold reserves were sold in 2025, generating about $1.5 billion. He emphasized that a Bank of Ghana delegation, led by Governor Johnson Pandit Asiama, provided detailed explanations before the Economy Sub-committee on March 9.
“The answers you seek were all provided a few days ago,” Gyamfi wrote, urging critics to review official records or consult lawmakers who attended the session. He also rebuffed allegations from Kojo Oppong Nkrumah and Gideon Boako, describing their claims as “unfounded.”
The controversy revolves around questions of transparency and the purpose of the sales—whether they were a strategic reserve management decision or driven by financial pressures. Gyamfi stressed that parliamentary committee oversight ensures due process and accountability in such matters.
Separately, Governor Asiama dismissed criticisms from Kofi Bentil, who alleged a potential $1.3 billion loss from the sales. He described the claim as misleading, reaffirming that the Bank of Ghana’s approach to reserve management remains deliberate, transparent, and consistent with policy objectives.
The debate highlights ongoing public scrutiny over Ghana’s gold transactions, underscoring the importance of transparency and legislative oversight in managing the nation’s key financial assets.
