Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, has accused the Chief Executive Officer of the Ghana Gold Board (GoldBod) of attempting to divert conversations around losses incurred by the Bank of Ghana (BoG).

The International Monetary Fund, in its recent report, stated that the significant scaling up of Domestic Gold Purchase Programme operations in 2025 led to staggering losses of over US$1.7 billion, equivalent to 1.5% of GDP.

The development has since seen the minority caucus and members of the opposition accuse the GoldBod boss, Sammy Gyamfi, of contributing to the losses.

Mr. Gyamfi, however, vehemently refuted the claims as he further alleged in a rebuttal against the Minority Leader, Alexander Afenyo-Markin, to be an “extortionist”.

But according to Mr. Nkrumah, the recent claims of extortion involving the Minority Leader are diversionary tactics aimed at shifting public attention from critical issues of accountability regarding the management of the country's gold resources and central bank finances.

Speaking on Nhyria FM's "Kro Yi Mu Nsem", the former Information Minister said Ghanaians should remain focused on demanding transparency and accountability in the transactions, rather than being swayed by what he described as “unfounded allegations”.

"Sammy Gyamfi is distracting Ghanaians from the GoldBod and Bank of Ghana losses with his allegations of extortion against the Minority Leader, Alexander Afenyo-Markin," Mr. Oppong Nkrumah told Barima Kofi Dowson.

He maintained that the allegations lack substance and are calculated to tarnish the reputation of the Minority Leader while evading public scrutiny over alleged mismanagement.

The Minority Leader, Alexander Afenyo-Markin, is demanding urgent intervention, pointing to unresolved concerns that the Gold Board has failed to account for $1.7 billion, which he pegs at around GH¢22 billion.

He contends that the losses raise serious red flags about financial prudence, transparency and value for money in the Board's operations.

The Ofoase-Ayirebi MP described Mr. Gyamfi’s move as a personal attack and expressed worry over what he says has become a pattern of targeting individuals who demand accountability.

"This has been their tactic. If Ghanaians will recall, when I came out with the Bank of Ghana's losses and demanded investigations, they attacked me personally, saying that I am not an economist or financial expert. They did the same to Abena Osei-Asare," he said.

Meanwhile, the Minority Leader has sued Sammy Gyamfi, Eric Adjei, and two media organizations, including the Multimedia Group, over the ‘extortionist’ allegations.