The CEO of Ghana Gold Board (GoldBod), Sammy Gyamfi, has defended the credibility of its 2025 financial statements, saying the Auditor-General was given unhindered access to relevant documents and raised no adverse audit findings against the institution.
He says the development further disproves allegations that GoldBod suffered operational losses or breached financial management and procurement rules during the year.
Speaking at the Government Accountability Series on Wednesday August 19, Mr Gyamfi said officials of the Auditor-General were given access to all relevant information required for the audit of GoldBod’s 2025 financial statements.
READ ALSO: GoldBod Reports GH¢907m Operational Surplus, GH¢5.4bn Overall Surplus in 2025
He said all documents requested by the auditors were supplied and queries raised in the management letter were satisfactorily addressed.
According to him, the final audited report contained no adverse finding against GoldBod in relation to operational losses, procurement breaches or violations of the Public Financial Management Act.
Mr Gyamfi therefore rejected suggestions that the Auditor-General did not have access to the full picture of GoldBod’s operations before reaching its conclusions.
He further said such claims either reflected a misunderstanding of the external auditing process or an attempt to undermine an independent constitutional institution.
He urged the media to independently verify the matter with the Auditor-General rather than relying on political claims about GoldBod’s financial position.
The controversy follows claims by Minority Leader Alexander Afenyo-Markin and other opposition figures that GoldBod made losses from its gold trading operations in 2025.
However, the CEO says GoldBod’s audited financial statements for the year ended December 31, 2025, show an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion.
He explained that the operational surplus was derived from GoldBod’s own revenue and expenditure, while the overall figure included GH¢4.5 billion in revolving seed capital provided by government as equity for the institution.
He maintained that the audited figures provide an independent basis for assessing GoldBod’s financial performance.
He also cautioned against conflating GoldBod’s financial statements with the separate losses recorded by the Bank of Ghana under the Domestic Gold Purchase Programme.
According to Sammy Gyamfi, the recent IMF reports did not state that GoldBod caused the Bank of Ghana’s reported US$1.7 billion loss in 2025.
He called on journalists and fact-checkers to scrutinise both the Auditor-General’s report and the IMF documents to establish what the institutions actually reported.
Ghana|Atinkaonline.com|Mavis Fantevi