Alexander Afenyo-Markin, a member of the Minority Parliament, has issued a formal warning against further defamatory statements targeting him, intensifying a protracted dispute with the Ghana Gold Board (GoldBod) and the Bank of Ghana’s Domestic Gold Purchase Programme (DGPP). The escalating conflict stems from a series of allegations, recently brought forth by Afenyo-Markin, which he describes as ‘false and defamatory’.
In a statement posted on X (formerly Twitter) on Saturday, August 22, 2026, Afenyo-Markin asserted his intention to pursue legal remedies for the damaging claims made against him. The statements, which detail a week-long barrage of personal attacks, center on the alleged financial repercussions of the DGPP, particularly a reported loss of over $1.7 billion, which the Bank of Ghana has disputed.
Afenyo-Markin points to an International Monetary Fund (IMF) report indicating that the DGPP’s scale-up in 2025 resulted in losses exceeding US$1.7 billion. He contends that GoldBod, acting as a ‘buying agent’ for the Bank of Ghana, is not responsible for the subsequent sale of gold or the determination of selling prices. This contradicts the Bank of Ghana’s assertion that the losses were recorded by GoldBod.
The dispute has deepened following a demand from Afenyo-Markin for answers regarding a GH¢22 billion loss linked to the DGPP. He alleges that these losses are connected to the programme’s financial structure and the subsequent sale of gold.
His comments come in the wake of a heated exchange between him and GoldBod Chief Executive Officer Sammy Gyamfi over the DGPP’s cost. Gyamfi has characterized Afenyo-Markin as an ‘extortionist’ and has challenged the Minority Leader to sue him if he believes the description is false.
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Mr. Gyamfi has highlighted the alleged financial implications of the Minority Leader’s demands for answers, suggesting that the accusations are designed to undermine the Bank of Ghana’s authority.
Afenyo-Markin stated that he intends to take the matter to court, although he did not disclose the specific legal action he plans to pursue. He emphasized that the attacks continue to impede his ability to pursue the financial issues at hand.
The initial accusations, which included personal attacks and allegations of motives for the financial issues, are now being pursued through legal channels. The Bank of Ghana has responded, stating that GoldBod’s role in the gold transactions is not relevant to the reported losses, and has defended its position against Afenyo-Markin’s claims. The situation remains volatile, with the Minority Leader signaling a potential escalation in legal action, potentially impacting the stability of the Ghana Gold Board and the Bank of Ghana’s domestic gold purchasing program.
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Source: New
