Minority Leader in Parliament Alexander Afenyo-Markin has fired back at National Communications Officer for the National Democratic Congress Sammy Gyamfi over fresh claims questioning his motives for demanding accountability for losses associated with the Bank of Ghana's (BoG) Domestic Gold Purchase Programme (DGPP).
Afenyo-Markin Rejects "False and Defamatory" Allegations
Afenyo-Markin has rejected allegations questioning his motives for demanding accountability for losses associated with the Bank of Ghana's (BoG) Domestic Gold Purchase Programme (DGPP), calling them "false and defamatory". The Minority Leader in Parliament and Member of Parliament for Effutu said the controversy surrounding the programme should not be allowed to shift attention from the substantive financial questions raised by the Minority, particularly concerning the reported US$1.7 billion loss under the programme in 2025 and the role of the Ghana Gold Board (GoldBod) in the transactions.
"My Duty is Oversight"
Afenyo-Markin said his intervention was rooted in Parliament's constitutional responsibility to scrutinise public institutions and demand explanations where questions arose over the use and management of public resources. As Minority Leader in Parliament, his responsibility is to help Parliament discharge its constitutional oversight function. He maintained that his questions were not driven by personal interests or any improper agenda.
GoldBod and the US$1.7 Billion Loss
The controversy centres on the interpretation of the reported US$1.7 billion loss and the extent of GoldBod's involvement in the transactions. The IMF has raised concerns about losses associated with the BoG's domestic gold purchasing operations, putting the programme under renewed scrutiny and prompting questions about its financial implications. Afenyo-Markin said the personal attacks against him appeared intended to divert public attention from the issues requiring scrutiny.
"I Recognise That, in Public Life, Those Who Are Uncomfortable with Legitimate Scrutiny May Push Back"
Afenyo-Markin acknowledged that public officials and institutions subjected to oversight could resist questioning but said that should not undermine Parliament's role. He added that in some cases, they may resort to false allegations, personal attacks and ridicule in an effort to shift attention from the substantive issues and make the person asking the questions the subject of controversy. The Minority has maintained that the reported loss warrants closer examination to establish how it occurred, the institutions involved, the financial implications for the state and whether adequate safeguards were in place.
The development has also revived broader questions about the financial risks associated with the government's gold purchasing strategy and the mechanisms used to manage the transactions. As the controversy surrounding the programme continues, it remains to be seen how the issues will be resolved and what implications the outcome will have for the country's gold purchasing strategy and public accountability.
Source: Joy Online
