The Member of Parliament for Jirapa, Honourable Cletus Seidu Dapilah, has urged politicians to handle the dispute involving the Chief Executive Officer of the Ghana GoldBod, Sammy Gyamfi, and the Minority Leader, Honourable Alexander Afenyo-Markin, through evidence and parliamentary processes. He argued that the disagreement over alleged losses linked to domestic gold purchases has developed into a political controversy that requires careful examination of the facts.
Honourable Dapilah explained that the domestic gold purchasing programme was previously managed by the Precious Minerals Marketing Company before the Ghana Gold Board was established under the new legal framework. According to him, losses associated with the programme were previously attributed to the Bank of Ghana, making the current attempt to place the responsibility solely on Gold Board an issue requiring proper clarification.
The Jirapa MP further pointed to the difference between foreign exchange rates used when purchasing gold and those applied when transactions are settled through the interbank market. He argued that the existing arrangement could naturally produce operational losses because the rates used at different stages of the transaction do not always correspond.
“There’s no way losses will not occur. Now the issue is about whether those losses are to be attributed to Bank of Ghana or Gold Board.”
Honourable Cletus Seidu Dapilah
Analysing the matter from a policy perspective, Honourable Dapilah suggested that Parliament itself could examine whether the legislation establishing Gold Board adequately addressed the financial implications of domestic gold purchases. He explained that costs relating to foreign exchange differentials, transportation and other operations require appropriate financing within the framework governing the institution.
Attention has also shifted to the reports being referenced in the dispute, with the legislator pointing to an audit conducted by the Auditor General on Gold Board. He indicated that the audit report did not establish that the institution itself incurred the losses being discussed in the current public debate.
The MP therefore questioned why the disagreement had escalated to the point of personal accusations involving two senior political figures. From his perspective, the central issue should be establishing where the financial losses originated and determining the appropriate institutional responsibility.
He also vouched for the transparency of Sammy Gyamfi’s administration of Gold Board and cited the availability of operational information through the institution’s website. The Jirapa MP added that the Gold Board CEO had previously expressed readiness to appear before Parliament and account for his stewardship.
Parliamentary Inquiry Offers Route To Resolve Gold Board Dispute
The parliamentary process has meanwhile provided a formal avenue for the issues surrounding Gold Board to receive further examination. Honourable Dapilah disclosed that a motion seeking the appearance of the Gold Board CEO before Parliament had been admitted by the Speaker, Alban Bagbin, alongside a proposal for the matter to receive further scrutiny.
The development, he explained, would allow the institution’s leadership to respond directly to questions concerning its operations and financial arrangements. Referencing the Speaker’s decision, the legislator argued that the admission of a motion demonstrated that Parliament had created an opportunity for the matter to be examined within its constitutional oversight responsibilities.
Honourable Dapilah also challenged claims that the Majority Caucus blocked an earlier attempt to bring the Gold Board CEO before Parliament. He called for evidence to support such claims and distinguished between political assertions and the formal parliamentary procedure through which motions are admitted.
“The Speaker admitted the motion. So, I’m happy he’s going to have the opportunity to come and then state it clearly.”
Honourable Cletus Seidu Dapilah,
Beyond the immediate dispute, the Jirapa MP argued that the controversy exposed a possible gap in the financial structure governing Gold Board’s operations. He proposed that the policy framework should provide for the costs associated with foreign exchange differentials, transportation and other expenses incurred during gold purchases.
Such an approach, he explained, would give Parliament an opportunity to assess whether the existing law provides sufficient mechanisms for absorbing operational costs. The discussion therefore extends beyond the personalities involved and touches on how public institutions are funded and supervised.
Meanwhile, Honourable Dapilah acknowledged the decision by Honourable Alexander Afenyo Markin to consider legal action over the allegations levelled against him. He suggested that the Minority Leader’s response through the courts could provide another avenue for the competing claims to be tested through established legal procedures.
At the same time, the legislator indicated that Sammy Gyamfi would also be expected to substantiate the allegations attributed to him if the dispute proceeds through a formal process. He urged the parties to approach the matter with sufficient caution because the credibility of Parliament and public institutions could be affected by unresolved accusations.
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