BoG report: You justify falsehood by changing goalposts – Sammy Gyamfi slams Oppong Nkrumah
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has accused former Information Minister and Ofoase Ayirebi lawmaker Kojo Oppong Nkrumah of misleading the public over his interpretation of the 2025 audited financial statements of the Bank of Ghana.
In a Facebook post on Sunday, May 10, 2026, Sammy Gyamfi said the Ofoase Ayirebi MP was “changing the goalpost” after initially claiming that the central bank recorded a “true operating loss” of GH¢34.9 billion in 2025.
According to him, Mr Oppong Nkrumah’s latest attempt to describe the figure as the BoG’s “total loss” contradicts his earlier public statements.
“But Kojo, was this the claim you made at your press conference of Sunday, 3rd May 2026? The answer is a big fat NO,” Mr Gyamfi wrote.
He argued that throughout Mr Oppong Nkrumah’s earlier press conference, the GH¢34.9 billion figure was repeatedly described as an “operating loss” and not a total comprehensive loss.
“The true Operating loss of the Bank is actually GHS34.9 billion cedis,” Mr Gyamfi quoted from the former minister’s statement, adding that Mr Oppong Nkrumah had even suggested the losses could rise to GH¢44 billion if proceeds from gold sales were excluded.
Mr Gyamfi described that analysis as “voodoo mathematics” and said the New Patriotic Party lawmaker had abandoned the GH¢44 billion claim after it was challenged publicly.
He maintained that the actual operating loss captured in the Bank of Ghana’s audited accounts for 2025 is GH¢15.6 billion and insisted that the income statement, not the Other Comprehensive Income statement, should be used to assess the financial health of the central bank.
“And that, the audited income statement (P&L) is what is relevant in assessing the financial health of the Bank, and not the Other Comprehensive Income statement, that mainly captures unrealized revaluation gains/losses and exchange differences,” he stated.
Mr Gyamfi further challenged Mr Oppong Nkrumah to a public debate on the matter, accusing him of avoiding direct engagement.
“My brother KON, you lied! Apologize and let’s move on. But if you want to litigate this matter further, stop responding to me on Facebook. You are welcome to select any media platform of your choice and a date and time of your convenience for a debate,” he wrote.