Gold Board (GOLDBOD) CEO Sammy Gyamfi has defended his description of Minority Leader Alexander Afenyo-Markin as an extortionist, insisting he has proof and that Afenyo-Markin, being aware of this, has opted not to challenge the claim.

He spoke to Samson Lardy on Joy News' News File.

Background: a dispute over a $1.7 billion loss claim

Gyamfi has come under severe criticism over a reported $1.7 billion loss by GOLDBOD in 2025. Afenyo-Markin, in a press conference at Parliament, suggested the loss could result in Gyamfi's arrest and placement on very harsh bail terms.

Gyamfi responded during the latest Government Accountability Series programme, saying he would only go to jail in Afenyo-Markin's imagination. He then went on to call the Minority Leader and Effutu Member of Parliament (MP) an extortionist.

Gyamfi stands by his claim

Speaking on Saturday, Gyamfi explained that the animosity between him and Afenyo-Markin stems from matters not known to the public. He said he welcomes debate and criticism, but insisted it be done fairly, and not as Afenyo-Markin had done. He acknowledged his description may come as a shock, even to the New Patriotic Party (NPP), but maintained he used the word on solid grounds, and dared the Minority Leader to challenge him or take legal action.

"There are many underlining issues between I and Afenyo-Markin that you don't know and those watching don't know," Gyamfi said.

"I have appeared on News File many times — perhaps in this country I have held more press conferences on political issues than anybody. Have you ever heard me use the word extortion against any of my critics? Have you ever heard me? Why will I use this word now? And why have you not heard Afenyo say anything about that, or challenge me or threaten to sue you? So then NPP people talking, there are things you don't know. I'm a consummate democrat. I eat and drink debates. I'm not worried if you decide to criticise me," he added.

He would not walk back the description.

"Yes, and that is why he cannot comment on that or even challenge me. He cannot, because he knows that what I said is true. So there are many things that you may not have the benefit of [knowing]," Gyamfi said.

Host Samson Lardy reminded Gyamfi that Afenyo-Markin is a self-made man who owns a chain of businesses. Gyamfi did not engage with this point directly, instead issuing another challenge, which was inviting Afenyo-Markin to a live TV debate.

"Tell him that you want to be his lawyer so that he sues Sammy Gyamfi to substantiate that claim. Or tell him that you'll give him an interview here and Sammy Gyamfi will come and that he should dare Sammy Gyamfi," he said.

Gyamfi maintained that calling Afenyo-Markin an extortionist "is not an insult," but rather, in his words, "I'm speaking about what has happened and he knows."