Ghana Gold Board (GoldBod) Chief Executive Officer Sammy Gyamfi has dismissed Minority Leader Alexander Afenyo-Markin’s claims about a $1.7 billion loss at GoldBod, saying he is not concerned about suggestions that he could face onerous bail terms if arrested.

Mr Afenyo-Markin had alleged that GoldBod had incurred the loss and suggested that Mr Gyamfi’s bail terms could be extremely high if he were arrested.

Responding during the Government Accountability Series, Mr Gyamfi said he was prepared for political attacks and would not be intimidated by the claims.

“When you are involved in politics, you are involved in boxing. You should be ready for tackles and punches, and some of us are vaccinated against political mischief. We've taken the vaccine so we are not worried at all,” he said.

He questioned why he should face onerous bail conditions when, according to him, the former ECG board chairman under whose tenure the utility recorded an GH¢8.2 billion loss was not facing similar conditions.

“If the one under whose tenure as board chairman at ECG, where ECG recorded a loss of 8.2 billion is not facing any onerous bail terms, how [then] can Sammy Gyamfi under whose tenure at the GOLDBOD has exported 170 tonnes of gold through formal channels and brought into this country over $17 billion in one and half years face onerous bail terms?”

Mr Gyamfi also highlighted what he said were changes in gold refining and value addition under his tenure.

“Under your tenure, not a gram of gold was refined in Ghana. Today, over 9 metric tonnes in just this year of gold we have bought have been refined in Ghana. We are changing the value addition story,” he said.

Describing Mr Afenyo-Markin’s comments as reckless, he added: “Such statements are reckless. They are what I call the fanciful effusions of a palmwine bar. You take it as comic relief.”

Mr Gyamfi said he was not worried about intimidation and maintained that GoldBod’s performance would speak for itself.

“I will go to prison in his brain and have onerous bail terms in his brain. I'm not afraid of any intimidation tactics because we are serving Ghana in good conscience and our results and posterity will speak for us.”