Speaking during a political panel discussion on UTV, Mr Oppong Nkrumah addressed comments attributed to him following a Minority Caucus press conference in Parliament, which sparked public debate over the financial performance of GoldBod under the leadership of Sammy Gyamfi.
The issue was raised during the discussion by Minister of Food and Agriculture, Eric Opoku, who referenced allegations suggesting that the former Information Minister had accused GoldBod of recording losses amounting to hundreds of millions of dollars.
“You indicated earlier that you never said Sammy Gyamfi’s Gold Board has made losses,” Mr Opoku observed during the programme.
In response, Mr Oppong Nkrumah clarified that his comments were never directed at GoldBod as an institution, nor were they meant to suggest that the Board itself had officially posted losses.
“I addressed that press conference myself, and anyone can watch the full video,” he stated. “We raised four clear issues, and I have consistently explained what those concerns were.”
According to him, the figures he mentioned — estimated between $214 million and $300 million — were linked specifically to transactions involving the Bank of Ghana and GoldBod, not a declaration that GoldBod’s operations had resulted in direct losses.
“What I said was that losses have occurred based on the interaction between the Bank of Ghana and GoldBod. That is very different from saying GoldBod has made losses as an institution,” he explained.
Mr Oppong Nkrumah further indicated that the Minority’s concerns extended beyond financial figures to include questions about transparency and procurement processes surrounding the transactions.
“We also raised issues about the involvement of a company that many people are unfamiliar with — Bawa Rock. That was part of what we highlighted,” he added.
He stressed that his comments were aimed at ensuring accountability and clarity in the management of public resources, particularly in dealings involving state institutions.
“At no point did I accuse the Gold Board or its Chief Executive Officer of personally or institutionally recording a loss of $214 million,” he emphasised. “Our focus has always been on proper explanations and responsible governance.”
The clarification comes amid heightened political debate over Ghana’s gold trading framework and the role of state institutions in managing mineral revenues. The controversy has drawn reactions from both government officials and opposition figures, with calls for greater transparency in gold-related transactions.
Mr Oppong Nkrumah concluded by urging the public and media to rely on verified statements rather than second-hand interpretations, noting that misrepresentation of political commentary only fuels unnecessary tension.