Minority Leader Alexander Afenyo-Markin has strongly rejected what he described as false and defamatory allegations regarding his motives for questioning financial losses linked to the Bank of Ghana’s Domestic Gold Purchase Programme and the role of GoldBod.
Clarifying his position on the matter, Afenyo-Markin announced his intention to pursue appropriate legal remedies against those responsible for the defamatory statements targeting his person. He maintained that the personal attacks and insults directed at him over the past week are deliberate attempts to impugn his character and distract from the critical issues he raised.
“These allegations are entirely false, and I reject them without qualification,” the Minority Leader stated, stressing that his actions stem strictly from his duty to assist Parliament in executing its constitutional oversight functions. He added that he has neither operated out of improper motives nor acted inappropriately in discharging his official duties.
Addressing the broader pushback, Afenyo-Markin noted that individuals uncomfortable with legitimate scrutiny often resort to personal attacks and ridicule to shift attention away from substantive matters. Despite the hostility, he asserted that he remains undeterred and committed to leading the Minority Caucus in initiating the necessary parliamentary processes for a comprehensive inquiry into the reported GH¢22 billion loss.
Highlighting the scope of the controversy, he referenced figures from the International Monetary Fund indicating an approximate loss of US$1.7 billion under the programme in 2025. “Whichever institution’s balance sheet carries that figure, it represents public money,” Afenyo-Markin said, emphasizing that the public deserves complete transparency regarding who the off-takers were, the discounts applied, the authorization behind those discounts, and the transaction fees earned.
He further demanded a complete disaggregation of the US$1.7 billion to determine the portions resulting from foreign-exchange differentials, trading price margins by GoldBod, and the managerial decisions governing the transactions.
Reiterating his caucus’s resolve to keep these matters on the public record with published sources, Afenyo-Markin insisted that the public should be able to examine the evidence directly rather than taking anyone’s word for it. He affirmed that while legal avenues are pursued over the personal attacks, his primary focus and that of the Minority Caucus remain firmly on scrutinizing the management of public funds under the programme.
Read the full statement below
Over the past week, all manner of insults and personal attacks have been directed at me, apparently in an attempt to impugn my character and divert attention from the substantive questions I have raised. False and defamatory allegations have also been made about my motives for questioning the losses incurred under the Bank of Ghana’s Domestic Gold Purchase Programme and the role of GoldBod in those transactions.
These allegations are entirely false, and I reject them without qualification.
As Minority Leader in Parliament, my responsibility is to help Parliament discharge its constitutional oversight function. My actions have been guided solely by that responsibility. I have neither acted from any improper motive nor conducted myself inappropriately in the performance of my duties.
I recognise that, in public life, those who are uncomfortable with legitimate scrutiny may push back. In some cases, they may resort to false allegations, personal attacks and ridicule in an effort to shift attention from the substantive issues and make the person asking the questions the subject of controversy.
I remain focused. I will continue working with the Minority Caucus to initiate the necessary parliamentary processes for a full inquiry into the reported GH¢22 billion loss arising from the trading done by the GoldBod and reflected in the books of the Bank of Ghana.
The International Monetary Fund has reported a loss of approximately US$1.7 billion under this programme in 2025. Whichever institution’s balance sheet carries that figure, it represents public money. Ghanaians are, therefore, entitled to know who the off-takers were, what discounts were applied to their purchases, on whose authority those discounts were approved, and what fees were earned from the transactions.
They are equally entitled to a full disaggregation of the US$1.7 billion: how much arose from foreign-exchange differentials; how much resulted from the prices at which GoldBod bought and sold the gold; and what considerations informed the management decisions behind those transactions.
These questions belong in the public record. The Minority will continue to place them there, in writing and with our sources published, so that every Ghanaian can examine the evidence and arrive at an informed judgment, rather than merely take my word or anyone else’s.
On the defamatory statements made against me personally, I intend to pursue the appropriate legal remedies. Meanwhile, my attention, and that of the Caucus I lead, remains firmly focused on the programme, the decisions taken and the public funds involved.
Signed
Osahen Alexander Kwamena Afenyo-Markin
Minority Leader
By: Rainbowradioonline.com/Ghana
