Sammy Gyamfi Dismisses GH¢200m GoldBod Theft Claims as ‘Laughable’

Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has rejected allegations linking his bodyguards to gold trading and the alleged theft of GH¢200 million belonging to the state agency.

Speaking during an X Spaces session on Sunday, August 9, 2026, Mr Gyamfi described the claims as “laughable” and accused unnamed political opponents of orchestrating a deliberate disinformation campaign against him and GoldBod.

He insisted that none of his bodyguards is involved in gold trading or has stolen money belonging to GoldBod.

“None of my bodyguards is involved in gold trading, and none of my bodyguards has stolen or taken Gold Board money,” he said.

Mr Gyamfi also distanced himself from Dominic Bonsu, a licensed gold dealer at the centre of the controversy, denying claims that Bonsu had served as his bodyguard.

According to the GoldBod CEO, Bonsu is, to his understanding, an NPP constituency executive in the Manso area of the Ashanti Region and has no personal relationship with him.

He further described suggestions that Bonsu was part of his security detail as “laughable”, citing the physical differences between the two men.

“You can see that I’m a very lean guy, but the last time I saw him, when he was brought from remand custody, I saw that I’m more muscular than him. I’m bigger than him. I don’t see how that guy can be my bodyguard. So it is laughable,” he said.

Mr Gyamfi accused some of his political opponents of deliberately spreading false information to damage his reputation and undermine GoldBod.

He alleged that the campaign was being led by Minority Leader Alexander Afenyo-Markin, Atiwa East MP Abena Osei-Asare and Ofoase Ayirebi MP Kojo Oppong Nkrumah.

“There is a deliberate disinformation agenda against Sammy Gyamfi and the GoldBod by people who think that Sammy Gyamfi is the reason why they are in opposition. So it is time to pay Sammy Gyamfi back,” he said.

He urged journalists and members of the public to independently verify allegations made against him or GoldBod before accepting them as fact.

Mr Gyamfi also claimed that some of his critics had been protected from legal action because certain allegations were made under parliamentary privilege.

He warned that he would consider legal action if the same allegations were repeated outside Parliament.

Addressing questions about Dominic Bonsu, Mr Gyamfi said Bonsu was a licensed Tier Two gold buyer under GoldBod’s regulatory framework.

He stressed that GoldBod’s licensing process was digital and based on qualification rather than political affiliation.

“We don’t look at people’s political colours — we give licences to any Ghanaian who is qualified,” he said.

Mr Gyamfi explained that, because the licensing system is digital, he personally does not meet most of the individuals who receive licences from the institution.

He said he had signed more than 1,000 licences but was unlikely to have met face-to-face with 99 per cent of the licensees.

GoldBod has previously stated that Dominic Bonsu Ventures’ Tier Two gold trading licence was suspended in July 2026 over suspected breaches of licence conditions and trading directives.

Bonsu was subsequently arrested and remanded into custody by an Accra High Court, with the case still pending.

GoldBod and Mr Gyamfi’s lawyers have separately rejected claims that the institution suffered a GH¢200 million loss, describing the allegations as false, malicious and defamatory.

Beyond the controversy, Mr Gyamfi used the X Spaces session to highlight the government’s broader plans for Ghana’s gold sector.

He said the administration was focused on strengthening the domestic gold value chain, increasing local refining capacity and improving oversight of gold trading activities.

He also credited the Mahama administration’s gold-led reserve accumulation strategy with contributing to a significant increase in Ghana’s foreign reserves.

According to Mr Gyamfi, the country’s foreign reserves have risen from approximately US$8.9 billion to US$13.8 billion under President John Dramani Mahama.

He maintained that GoldBod’s reforms were aimed at ensuring Ghana derives greater value from its gold resources while strengthening transparency and oversight across the sector.

Source:3news