The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has challenged Minority Leader Alexander Afenyo-Markin to use Parliament’s oversight mechanisms to invite him to answer allegations that GoldBod was responsible for massive losses incurred under the Bank of Ghana’s Domestic Gold Purchase Programme (DGPP).

Mr Gyamfi said he was ready to appear before Parliament at any time to provide evidence and defend GoldBod against the allegations.

Speaking at the government’s Accountability Series on Wednesday, August 19, he said the Minority Leader should stop discussing the matter primarily at press conferences and instead trigger a parliamentary inquiry.

“There has been a call for a parliamentary probe, and I’ve already stated on public record that I’m waiting with bated breath for Afenyo-Markin’s invitation,” he said.

Mr Gyamfi argued that the Public Accounts Committee (PAC) already had the authority to invite him to explain GoldBod’s operations and address the allegations.

“I don’t know why he’s delaying and holding press conferences when, as Minority Leader, he can get the Public Accounts Committee to summon me tomorrow or today, and I will appear,” he added.

He said there was no need for a special parliamentary motion or an order from the Speaker before the committee could begin examining the matter.

“I have, in all humility, reached out to the new Majority Leader in Parliament, Honourable James Agalga, and I pleaded with him that even if Afenyo-Markin delays in extending this invitation, he should extend the invitation to me, and I’m ready to come tomorrow,” he said.

According to Mr Gyamfi, a parliamentary inquiry would provide an opportunity for the Minority and GoldBod to present evidence and establish where responsibility for the reported losses lies.

“You don’t need any special motion; you don’t need any special order by the Speaker. Just get the Public Accounts Committee to invite us and come and sit down there and demonstrate to the whole nation where the Gold Board made losses or how the Gold Board is to blame for losses made by another institution,” he said.

Gyamfi challenges claims against GoldBod

Mr Gyamfi maintained that claims linking GoldBod to the reported losses under the DGPP were inaccurate and misleading.

He reiterated his readiness to account for GoldBod’s operations and defend the institution against allegations that it was responsible for the financial losses.

His comments follow repeated demands by Mr Afenyo-Markin for GoldBod to account for what he describes as a GH¢22 billion loss involving the state’s gold trading operations.

The Minority Leader has argued that GoldBod must explain its role in transactions conducted under the DGPP and account for the financial implications of those operations.

PAC chair calls for investigation

Meanwhile, the Chairperson of Parliament’s Public Accounts Committee, Abena Osei-Asare, has said reports suggesting that GoldBod recorded losses amounting to US$1.7 billion, allegedly cited by the International Monetary Fund (IMF), warrant thorough investigation.

She said the inquiry should establish how the reported losses occurred and whether public funds were adequately protected.

Mr Gyamfi, however, has challenged Mr Afenyo-Markin to produce evidence from the IMF report that directly implicates GoldBod in losses incurred by the Bank of Ghana under the DGPP.

The GoldBod CEO insists that a parliamentary inquiry would provide the appropriate platform to settle the dispute with evidence rather than competing claims in the media.