Kojo Oppong-Nkrumah

Sammy Gyamfi,


I understand your intention to turn this into a contest between us. You want to divert attention from the Bank of Ghana’s substantial loss of GH¢34.9 billion and your party’s broken promise of financial discipline at the Bank of Ghana. However, we in the minority will not be swayed by these distractions.



Regarding your post, let’s address your points directly:

1. You want to distinguish between “operating loss” and “total comprehensive loss,” as if they are not real losses borne by the same Ghanaian taxpayer. However, the Bank of Ghana itself, on page 16, combines both figures and reduces its net equity by the full GH¢34.9 billion, not GH¢15 billion. The central bank’s own balance sheet has already settled this issue, which you are still trying to litigate. Whoever briefed you did you a disservice.

2. The total loss I talked about is not foreign in accounting and not voodoo. Up until 2024, all BoG accounts were prepared by putting all these gains and losses in OCI in the P&L. That is the international standard. The NDC government reverted this in the 2024 account and excluded it from P&L and put it in OCI. Reason why KPMG gave an opinion that the accounts were prepared in line with the institution’s own standards and not the IFRS. Do you understand the implication of this opinion of KPMG? This also means that the performance of the p&L in 2024 and 2025 cannot be compared to the periods prior to 2024 unless and until one combines the P&L and OCI. It is only the uninitiated who will call this voodoo.

3. You also mentioned lies.

- On January 3rd, 2026, you stated emphatically on Newsfile that there were no losses. You dismissed Ghanaians who pointed to losses as “dreaming or hallucinating.” This was a lie. Today, you are conceding to the GHS 15B portion of the loss. So, who is lying here?

- In 2018, you called a KPMG report “bogus, one-sided, and inconclusive.” In 2026, you claim that only KPMG can be trusted. It seems that you lack a principled position. The same firm, different positions. That is dishonesty.

- You claim to welcome a probe, yet you have been evading a Parliamentary investigation into the Gold losses of billions of cedis since March 27th. Why have your majority members in Parliament been obstructing all the probes? Your lies will be exposed if you are brave enough to appear under oath in a Parliamentary Inquiry where documents will be presented and scrutinized.

- You deny that GoldBod off-taker fees were documented by the IMF, but the Fund has not retracted its findings. Who is the liar here? Is it Sammy Gyamfi or the IMF?

You have told four lies on this matter alone, Sammy Gyamfi. Before you demand an apology from any MP, you owe Ghanaians four of your own.



4. The Bank of Ghana’s 2025 accounts are not the responsibility of GoldBod’s CEO or the NDC’s National Communications Officer. They belong to the Minister for Finance, who must present them to Parliament. Since you are aware of the mess you have caused, you have chosen to evade official probes and hide behind sponsored platforms where you can have a field day. If a debate is necessary, Ato Forson should step forward. He has the responsibility, integrity, and competence to do so. Not you, my friend. Until he does, answers are only required from you in a Parliamentary inquiry on the record and under oath. Stop wasting our time and show up.

If you are as confident of your case as your posts suggest, be the loudest voice in your party today demanding that the inquiry I initiated on March 27th be allowed to proceed. Then we will see who is telling the truth and who is lying.



Have a happy Sunday, my friend.

Happy Mother’s Day to all mothers and every woman who has played a motherly role in our lives. We celebrate you today.

It is quite ironic that the same merchants of probity and accountability now suggest a Ghanaian needs an audit license to decipher the truth of our national accounts.

The BoG recorded a total loss of GH¢34.9bn. Focusing only on the 'operating' portion is a pretense that undermines transparency. Having the humility to admit the full scale of our challenges is the first step to recapitalizing the Central Bank a necessity their own financials make clear.

Ghanaians don’t need 'voodoo' mathematics; we just need the truth, in full, for every citizen to see.


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