Ghana Gold Board CEO Sammy Gyamfi faces mounting pressure as Minority Leader Alexander Afenyo-Markin files a defamation lawsuit over alleged extortion, amid an escalating political dispute surrounding reported $1.7 billion gold trading losses under the Bank of Ghana.
The intensifying dispute between Ghana Gold Board Chief Executive Officer Sammy Gyamfi and Minority Leader Alexander Afenyo-Markin has reached a critical juncture. What began as a clash over macroeconomic transparency has rapidly evolved into personal legal battles and intra-party turbulence within the New Patriotic Party.
Defamation Lawsuit and High Court Filings Involving Sammy Gyamfi
The legal confrontation between the two political figures accelerated when Afenyo-Markin filed a defamation lawsuit against Gyamfi, seeking a GH¢15m compensation payout among other remedies. The legal action followed remarks made by the GoldBoard CEO during a press conference at the seat of the Presidency, where Gyamfi addressed criticisms leveled by the Minority regarding the Bank of Ghana’s Domestic Gold Purchase Programme. During those exchanges, Gyamfi labeled the Effutu MP an “extortionist,” prompting the Minority Leader to announce legal remedies on Monday, August 24, 2026.
In response to the writ, lawyers for Sammy Gyamfi from Ayine & Partners formally notified the High Court of their client’s readiness to participate in the proceedings. In a letter dated August 26, 2026, the legal firm instructed the court that they had received express authority to accept service of the summons and all accompanying court processes on the Chief Executive Officer’s behalf. The legal firm stated that the writ could be served on Sammy Gyamfi through its chambers at House No. C809/29, 1st Close Lily Street, East Legon, Accra. Lawyers stated: “We write to respectfully inform the Court that we have received the express instructions and authority of the 1st Defendant to accept service of the Writ of Summons issued by the Plaintiff, together with all accompanying processes, on his behalf in this matter.”
Disputed GoldBoard Financial Records and Parliamentary Showdown
At the heart of the political clash are conflicting claims regarding financial accountability. The controversy centers on an International Monetary Fund document cited in reports that alleged losses of $1.7 billion under the Bank of Ghana purchasing initiative. Those figures triggered sharp demands for accountability from opposition figures and Public Accounts Committee Chair Abena Osei-Asare.
Rejecting the allegations as entirely unfounded, Gyamfi bypassed standard press channels to issue a direct challenge during the government’s Accountability Series on Wednesday. Rather than trading accusations through media briefings, the GoldBoard chief publicly dared the Minority Leader and the Public Accounts Committee to launch a formal parliamentary probe, noting that no special motion or approval from the Speaker was necessary for a summons to be issued. Gyamfi stated: There's been a call for a parliamentary probe, and I've already stated on public record that I'm waiting with bated breath for Afenyo-Markin's invitation.
Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GoldBod)
Demonstrating his intent to force a formal inquiry, Gyamfi took the additional step of contacting new Majority Leader James Agalga. The CEO requested that if the Minority delayed issuing a formal summons, the leadership should step in to schedule the hearing immediately, stating: “I have in all humility reached out to the new Majority Leader in Parliament, Honourable James Agalga, and I pleaded with him that even if Afenyo-Markin delays in extending this invitation, he should extend the invitation to me and I’m ready to come tomorrow.”
Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GoldBod)
Intra-Party Pressure Within the New Patriotic Party Caucus
While the legal and parliamentary chess pieces move into place, the fallout has triggered friction within the opposition ranks. Senior members of the NPP Parliamentary Caucus viewed Gyamfi’s public allegations with deep concern, prompting party leadership to convene an urgent caucus meeting to question Afenyo-Markin directly ahead of Parliament’s sitting in the afternoon. Although the Minority Leader categorically denied the extortion claims and weighed his legal options, the pressure from within his own party highlights how personal attacks can overshadow substantive fiscal oversight.
As Parliament is recalled from recess to tackle urgent legislative business, the convergence of defamation litigation, parliamentary posturing, and internal party demands ensures that the scrutiny surrounding GoldBoard’s operations will persist.
