Accra: The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has called on Kojo Oppong Nkrumah, the Member of Parliament for Ofoase-Ayirebi, to issue a public apology for what he alleges are misleading claims about the Bank of Ghana's 2025 annual report.
According to Ghana Web, Gyamfi has unsuccessfully attempted to engage the New Patriotic Party member in a public debate on a national media platform. Despite this, Oppong Nkrumah has continued to make claims that Gyamfi considers false regarding the Bank of Ghana's financial report.
Gyamfi explained that the Bank of Ghana's reported GHS15.6 billion losses were discovered through a thorough audit by Klynveld Peat Marwick Goerdeler (KPMG). He described this audit as being transparent and credible during his appearance on TV3's Key Points.
Oppong Nkrumah later responded on Facebook, stating that the losses were actually greater than originally reported, claiming a total loss of GHS34.9 billion. He suggested that the Bank of Ghana used artificial revenue recognition and accounting treatments to hide the full extent of its losses.
He claimed that evidence of these practices appears on Page 16 of the financial statements, where the bank reports consolidated income. He explained that in addition to the GHS15.6 billion figure, an additional GHS19.3 billion in other comprehensive income increases the total to GHS34.9 billion. He further claimed that adjustments for sold gold push the total loss to about GHS44 billion.
However, the Communications Director of the National Democratic Congress dismissed these allegations, asserting that the GHS15.6 billion figure is the actual operating loss recorded in the audited financial statements of the Bank of Ghana for 2025. Gyamfi accused Oppong Nkrumah of misleading the public and urged him to retract his statements and apologise.
Gyamfi expressed his willingness to debate the matter publicly, stating in a Facebook post on May 10, 2026, "My brother KON, you lied! Apologise and let's move on. But if you want to pursue this matter further, stop responding to me on Facebook. You are welcome to choose any media platform of your choice, at a time convenient for you, for a debate."