We Need Facts, Not Political Distractions Over GoldBod Losses — Sammi Awuku

Date: August 24, 2026 By: Ebenezer Adugyamfi/ Emmanuel Ayiku for GhanaianNewsCanada

Former National Organiser of the New Patriotic Party (NPP), Sammi Awuku, has called for a more objective and evidence-based discussion on the controversy surrounding the reported US$1.7 billion losses linked to Ghana’s gold purchasing programme, insisting that the debate should focus on facts rather than political distractions.

His remarks come amid an intensifying political dispute between the government and the opposition over the financial performance of the Ghana Gold Board (GoldBod) and allegations concerning losses associated with the Bank of Ghana’s Domestic Gold Purchase Programme (DGPP).

Speaking on the matter, Mr Awuku said Ghanaians deserve transparency and credible explanations instead of personal attacks and partisan exchanges.

“We need facts, not political distractions,” he stated, urging stakeholders to concentrate on the financial realities of the programme rather than shifting the conversation toward personalities.

GoldBod controversy continues

The GoldBod debate has dominated Ghana’s political landscape in recent weeks following claims that the country’s domestic gold purchasing programme recorded losses amounting to approximately US$1.7 billion.

The controversy escalated after GoldBod CEO Sammy Gyamfi rejected suggestions that the institution had caused the losses, arguing that the programme predates GoldBod’s establishment and that the reported figures have been widely misunderstood.

Gyamfi has also maintained that GoldBod recorded an operational surplus in its audited 2025 financial statements and challenged critics to identify where the International Monetary Fund (IMF) accused the institution of causing the reported losses.

Awuku calls for accountability

According to Sammi Awuku, the issue should not be reduced to a political contest between the NPP and NDC.

He argued that the real concern is whether public institutions are properly managing Ghana’s natural resources and whether taxpayers are receiving full value from the country’s gold sector.

The former National Organiser stressed that accountability requires verifiable data, audited financial records and independent scrutiny rather than rhetoric.

His intervention echoes growing calls from economists, policy analysts and civil society groups for Parliament and relevant state institutions to examine the figures comprehensively before drawing conclusions.

Different interpretations of the US$1.7 billion figure

The reported loss has generated sharply contrasting interpretations.

Supporters of GoldBod argue that the figure represents transaction costs associated with purchasing gold domestically and converting it into foreign exchange and reserves, rather than evidence of institutional failure.

Policy analyst Dr Steve Manteaw has previously argued that the reported losses should be viewed within the broader economic context, noting that gold purchases also generated billions of dollars in export revenue and strengthened Ghana’s foreign reserves.

The opposition, however, insists that the reported losses warrant a thorough investigation and greater parliamentary oversight.

Parliament expected to play a key role

Calls have already been made for the Public Accounts Committee to invite GoldBod officials to explain the institution’s operations and financial performance.

GoldBod CEO Sammy Gyamfi has publicly declared that he is ready to appear before Parliament “any day” to answer questions and defend the institution’s record.

Sammi Awuku believes such institutional processes offer a more credible path to resolving the controversy than political exchanges conducted through press conferences and social media.

Gold remains central to Ghana’s economy

The debate underscores the importance of Ghana’s gold industry, which remains one of the country’s largest sources of foreign exchange and export earnings.

Government established GoldBod to strengthen oversight of artisanal and small-scale gold trading, reduce smuggling and improve accountability within the sector.

As scrutiny of the institution continues, analysts say maintaining public confidence will depend on transparent reporting, independent audits and open parliamentary oversight.

A call for evidence over politics

For Sammi Awuku, the priority is straightforward: Ghanaians deserve accurate information about the reported losses and the true financial position of GoldBod.

Rather than allowing the issue to become another partisan battle, he says the country should insist on facts, accountability and evidence-based policymaking.

As Parliament reconvenes and pressure mounts for further investigations, the GoldBod controversy is expected to remain one of the most closely watched economic and political issues in Ghana.