Afenyo-Markin threatens legal action over 'extortionist' allegation

Minority Leader in Parliament, Alexander Afenyo-Markin, has rejected personal attacks and allegations against him over his scrutiny of the Bank of Ghana’s Domestic Gold Purchase Programme and the role of the Ghana Gold Board (GoldBod).

Afenyo-Markin said the attacks were aimed at diverting attention from questions surrounding the reported losses associated with the programme.

In a statement issued on August 23, 2026, he said, “These allegations are entirely false, and I reject them without qualification.”

He explained that his actions were guided by Parliament’s constitutional oversight mandate.

'He's an extortionist!' - Sammy Gyamfi dares Afenyo-Markin

“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,” he said.

Afenyo-Markin said he would continue working with the Minority Caucus to initiate parliamentary processes for a full inquiry into the reported GH¢22 billion loss arising from GoldBod’s trading activities and reflected in the books of the Bank of Ghana.

“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 GoldBod and reflected in the books of the Bank of Ghana,” he stated.

He further cited an International Monetary Fund report which, he said, puts the loss under the programme at approximately US$1.7 billion in 2025.

According to him, regardless of which institution’s balance sheet carries the loss, Ghanaians have a right to know how public funds were managed.

“Whichever institution’s balance sheet carries that figure, it represents public money,” Afenyo-Markin said.

He is therefore demanding detailed information on the beneficiaries of the transactions, the discounts applied to gold purchases and the authority under which the discounts were approved.

FBI asks US court to keep records on Tinubu drug trafficking probe secret

“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,” he said.

The Minority Leader also wants the reported US$1.7 billion fully disaggregated to establish the specific sources of the loss.

“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,” he stated.

Afenyo-Markin said the Minority would continue to place its questions and sources in the public domain.

“These questions belong in the public record,” he stressed.

He also disclosed plans to pursue legal action over what he described as defamatory statements made against him.

“On the defamatory statements made against me personally, I intend to pursue the appropriate legal remedies,” he said.

Despite the attacks, Afenyo-Markin said his attention remained focused on the financial implications of the gold programme and the need for accountability.

“My attention, and that of the Caucus I lead, remains firmly focused on the programme, the decisions taken and the public funds involved,” he added.

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…

— Osahen Alexander Kwamena Afenyo-Markin (@AfenyoMarkin) August 22, 2026