Former Information Minister and Ranking Member on the Economy and Development Committee, Kojo Oppong Nkrumah, has launched a blistering response to the Chief Executive Officer of GoldBod, Sammy Gyamfi, intensifying the growing public clash over the Bank of Ghana’s 2025 audited accounts.

The heated exchange follows comments by Sammy Gyamfi on TV3, where he reportedly accused Oppong Nkrumah of lacking the technical competence to properly interpret the central bank’s financial statements after the former minister questioned the credibility of the reported GH¢15.6 billion loss figure.

But in a strongly-worded rebuttal issued on Sunday on his Facebook page, Oppong Nkrumah accused Sammy Gyamfi of deliberately attempting to distract Ghanaians from what he described as the “true scale” of the Bank of Ghana’s losses, insisting the actual figure stood at GH¢34.9 billion.

“I understand your intention to turn this into a contest between us.

You want to divert attention from the Bank of Ghana’s substantial loss of GH¢34.9 billion and your party’s broken promise of financial discipline at the Bank of Ghana. However, we in the minority will not be swayed by these distractions,” he stated.

The Ofoase-Ayirebi MP dismissed Sammy Gyamfi’s explanation that there was a distinction between “operating loss” and “total comprehensive loss,” arguing that both ultimately represented liabilities carried by the Ghanaian taxpayer.

According to him, the central bank’s own financial statements had already settled the debate.

“The Bank of Ghana itself, on page 16, combines both figures and reduces its net equity by the full GH¢34.9 billion, not GH¢15 billion.

The central bank’s own balance sheet has already settled this issue,” he argued.

Oppong Nkrumah further accused the government of manipulating accounting presentation standards in the 2024 and 2025 accounts to downplay the severity of the losses.

He claimed previous BoG accounts treated such losses differently under international accounting standards, but the current administration allegedly altered the presentation by moving portions of the losses into Other Comprehensive Income (OCI) instead of the Profit and Loss account.

“The performance of the P&L in 2024 and 2025 cannot be compared to the periods before 2024 unless and until one combines the P&L and OCI. It is only the uninitiated who will call this voodoo,” he fired.

The former Information Minister also took direct aim at Sammy Gyamfi’s credibility, accusing him of making contradictory public statements on multiple occasions.

He referenced a January 2026 appearance on Newsfile where Sammy Gyamfi allegedly dismissed reports of losses at the central bank as “dreaming or hallucinating,” only to later acknowledge at least part of the losses.

“Today, you are conceding to the GH¢15 billion portion of the loss. So, who is lying here?” he queried.

Oppong Nkrumah also accused the GoldBod CEO of hypocrisy over his changing attitude toward audit firm KPMG.

“In 2018, you called a KPMG report bogus, one-sided, and inconclusive.

In 2026, you claim that only KPMG can be trusted. The same firm, different positions. That is dishonesty,” he charged.

The NPP lawmaker further alleged that Sammy Gyamfi and the Majority side in Parliament had been frustrating attempts to investigate alleged gold-related losses involving GoldBod.

According to him, parliamentary inquiries initiated on March 27 had been consistently obstructed.

“You claim to welcome a probe, yet you have been evading a Parliamentary investigation into the gold losses of billions of cedis since March 27th,” he stated.

He challenged the GoldBod CEO to appear before Parliament under oath if he was convinced of the strength of his arguments.

“Your lies will be exposed if you are brave enough to appear under oath in a Parliamentary Inquiry where documents will be presented and scrutinised,” he warned.

Oppong Nkrumah additionally dragged the International Monetary Fund into the dispute, insisting the IMF had not withdrawn findings concerning GoldBod off-taker fees despite Sammy Gyamfi’s denials.

He argued that the matter had now moved beyond partisan spin and required accountability at the highest levels of government. The MP further maintained that responsibility for explaining the Bank of Ghana’s accounts rested with Finance Minister Cassiel Ato Forson and not Sammy Gyamfi.

“The Bank of Ghana’s 2025 accounts are not the responsibility of GoldBod’s CEO or the NDC’s National Communications Officer.

They belong to the Minister for Finance, who must present them to Parliament,” he stressed.

In one of the sharpest portions of the statement, Oppong Nkrumah accused Sammy Gyamfi of hiding behind media platforms instead of submitting himself to formal scrutiny.

“Since you are aware of the mess you have caused, you have chosen to evade official probes and hide behind sponsored platforms where you can have a field day,” he jabbed.

He concluded by daring the GoldBod CEO to publicly support the parliamentary inquiry if he truly believed he had nothing to hide.

“If you are as confident of your case as your posts suggest, be the loudest voice in your party today demanding that the inquiry I initiated on March 27th be allowed to proceed. Then we will see who is telling the truth and who is lying.”