Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GoldBod), has unequivocally denied claims linking any of his bodyguards to gold trading activities or the alleged disappearance of GHS 200 million belonging to the institution. Mr. Gyamfi stated these accusations are part of a deliberate misinformation campaign designed to tarnish his reputation and create a false impression of financial mismanagement at GoldBod. He emphasized that GoldBod's financial integrity remains intact.
The CEO clarified that the individual identified as Dominic Bonsu, alleged to be his bodyguard, is the sole proprietor of Dominic Bonsu Ventures, a licensed Tier 2 gold-buying company. Mr. Gyamfi explained that GoldBod does not conduct direct financial transactions with Tier 2 buyers like Dominic Bonsu Ventures. Instead, GoldBod's financial dealings are exclusively with licensed aggregators, with all pre-finance advances secured by robust Advance Payment Guarantees. This structure ensures a clear separation of financial responsibilities and reduces direct institutional risk.
This denial comes amidst heightened scrutiny of state-owned enterprises and their financial dealings within Ghana's economic landscape. The gold sector is a critical component of Ghana's economy, contributing significantly to export earnings and foreign exchange reserves. Allegations of financial impropriety, especially involving substantial sums like GHS 200 million, can impact investor confidence and public trust in key institutions. The GoldBod Act, 2025 (Act 1140), which governs the institution, aims to bring greater transparency and accountability to the gold trade.
Speaking on the matter, Mr. Gyamfi asserted, “None of my bodyguards is involved in gold trading. None of my bodyguards has taken away any money from GoldBod.” He further added, “There is deliberate disinformation against me because they feel I am the reason they are in opposition.” Mr. Gyamfi maintained that he has never known or met Dominic Bonsu and has never employed a bodyguard by that name. This statement directly addresses the personal nature of the allegations.
Mr. Gyamfi confirmed that Dominic Bonsu has been arrested and remanded by the High Court following a complaint from his aggregator counterparty. GoldBod has also initiated criminal proceedings against Mr. Bonsu over alleged breaches of the GoldBod Act, 2025 (Act 1140). Furthermore, GoldBod has suspended Dominic Bonsu Ventures' Tier 2 gold-buying licence for violating its licence conditions and operational guidelines. This action demonstrates GoldBod's commitment to enforcing regulatory compliance within the gold trading ecosystem.
The GoldBod CEO stressed that the ongoing court case arose from commercial dealings between a licensed aggregator and a licensed Tier 2 buyer. He reiterated that this situation has no connection to any alleged GHS 200 million loss by GoldBod. He also firmly maintained that none of GoldBod’s licensed aggregators currently owe the institution any money. This clarification seeks to reassure the public and stakeholders about GoldBod's financial health and operational integrity. The incident highlights the complexities and potential for misinformation in Ghana's dynamic gold market.