The Minority in Parliament has called on President John Mahama to immediately sanction Sammy Gyamfi as Acting CEO of the Ghana Gold Board for keeping and spending US dollars in public
They also demanded a full-scale investigation into the source of the dollar bundles displayed in the viral video attributed to Sammy Gyamfi
At a news conference in Accra, The NPP MP for Walewale, Dr. Tia Abdul-Kabiru Mahama also asked for an “apology from the Presidency to the Ghanaian people for the insult this act represents to those suffering under this failed economy”.
“Let it not be said that this Parliament was silent in the face of such brazenness. We will not look on while public office is desecrated and the Ghanaian people reduced to beggars in their own country”, he added.
He said, the NDC may wish to shrug this off as a personal error, but they are not buying that because, “Sammy Gyamfi represents the government. His actions reflect the true character of this regime – wasteful, unaccountable, and dangerous”.
The MP however, called on the media to continue holding public officials accountable and to amplify the voices of Ghanaians who deserve better leadership.
Below is the full statement:
PRESS CONFERENCE BY THE MINORITY CAUCUS ON THE DOLLAR-SPLASH BY A SENIOR GOVERNMENT OFFICIAL. A SYMBOL OF ARROGANCE AND DISDAIN AMID NATIONAL SUFFERING HELD ON MONDAY, 12TH MAY 2025
Good morning, ladies and gentlemen of the media.
We thank you for honoring our invitation. The Minority in Parliament has called this press conference to address a matter that, while outrageous, sadly encapsulates the arrogance, hypocrisy, and gross insensitivity that have come to define the NDC government under President John Dramani Mahama.
Over the weekend, Ghanaians were subjected to a disturbing video showing Mr. Sammy Gyamfi, National Communications Officer of the ruling NDC and Acting Chief Executive Officer (CEO) of the Ghana Gold Board, casually doling out bundles of United States Dollars to a known controversial figure, Evangelist Patricia Oduro, alias Nana Agradaa.
This display of financial recklessness is not only a betrayal of public trust but a slap in the face of millions of Ghanaians currently grappling with the devastating effects of the Cedi, inflation, and the unbearable cost of living. It is even more shameful that this act was committed by someone who has in the past championed populist rhetoric about economic discipline, Cedi loyalty, and anti-corruption.
Let us be clear: this is not an isolated moment of indiscretion; it is symptomatic of a broader culture of abuse, impunity, and moral decay in the heart of this NDC government.
While businesses across the country are being suffocated by dollar shortages and an erratic exchange rate, a government official with access to state resources is seen splashing dollars.
While the cedi has shown signs of recovery, appreciating from GHS 14.15 to approximately GHS 13.14 per USD as of May 9, 2025, this incident undermines efforts to stabilize our economy. The casual distribution of foreign currency by a high-ranking official sends a message of indifference to the struggles of ordinary Ghanaians.
And what has the government got to say? Nothing. There has been silence from the Presidency, no reprimand from the Ministry of Finance, and no action from the Office of the President or the National Security Secretariat. It appears this act has the quiet blessing of a regime that has long abandoned people’s interests for personal gain. As a minority group, we owe it to the people of Ghana to bring matters to the fore on this unfortunate development.
Ladies and gentlemen, it is ridiculous to suggest that Sammy Gyamfi did no wrong with the opulence and naked betrayal of public mandate. The President recently launched a Code of Conduct for appointees, which requires them to place the national interest above personal interests, eschew opulence, and be accountable for the use of public funds, among others. Sammy has raped these requirements of him by President. God has a way of testing the faith and integrity of men. The integrity and faith of President John Mahama in his own rules have been put to the test. It’s a watershed moment for him to keep true to his words.
Aside from the Code of Conduct for appointees, other financial and monetary laws have been challenged by the actions of Mr. Sammy Gyamfi. The Foreign Exchange Act, 2006 (Act 723) proscribes under Section 3(1) & (4) a person engaging in the business of dealing in foreign exchange without a license issued under this Act. The business of dealing in foreign exchange includes the receipt or payment of foreign currency. The Bank of Ghana has constantly reminded us through Notices that pricing, advertising, receipting, or making payments for goods and services in foreign currency in Ghana, without written authorization from the Bank of Ghana, is illegal. The penalties for such violations include a fine of up to seven hundred penalty units or a prison term of not more than eighteen months, or both.
Ladies and gentlemen, the Ghana Cedi (GHS) is the sole legal tender in Ghana. There is no justification whatsoever for keeping stacks of dollars because foreign exchange business and international payment are regulated under Section 15, which provides that “each payment in foreign currency, to or from Ghana between a resident and a nonresident or between nonresidents shall be made through a bank.
The action of Sammy Gyamfi in keeping, spending, and circulating foreign currency is also an offense under section 26 of the Currency Act 1964 (Act 242), which prohibits the circulation of foreign coins or notes.
We need to further bring your attention to the fact that the action of Sammy Gyamfi is opposed to the government’s promise to rein in the depreciation of the Ghanaian Cedi. At the time that government and its functionaries were celebrating a fleeting gain of the Cedi against the US dollar, Sammy’s action was a direct assault on the government’s effort. To keep and spend a foreign currency is a direct competitive edge and impetus given to that currency. It is quite ironic that the government is promising one thing in respect of monetary policy, and its functionaries are doing something different.
Lastly, we have heard Sammy and his supporters characterize the opulence as a generous gift to the needy. The needy Nana Agradaa could not have wished for a better benefactor than a man who has been tasked with the custody of all the gold produced in the country. But there is an obligation on her as well. The obligation to pay tax on the $10,000 gift. Tax payment in respect of investment for a resident is 25% and 30% for a foreign investor. When a gift is received by an individual outside of employment or business, the individual is required to submit a tax return within 21 days detailing the description, value, and tax payable. So, the clock has started ticking for her. We expect the GRA to demonstrate a commitment towards curtailing the continuous evasion of gift tax, which has remained unaccounted for in their books.
We in the Minority are calling for the following immediate action:
- The immediate sanctioning of Sammy Gyamfi as Acting CEO of the Ghana Gold Board.
- A full-scale investigation into the source of the dollar bundles displayed in the viral video.
- An apology from the Presidency to the Ghanaian people for the insult this act represents to those suffering under this failed economy.
Let it not be said that this Parliament was silent in the face of such brazenness. We will not look on while public office is desecrated and the Ghanaian people reduced to beggars in their own country.
The NDC may wish to shrug this off as a personal error, but we are not buying that. Sammy Gyamfi represents the government. His actions reflect the true character of this regime – wasteful, unaccountable, and dangerous.
We call on the media to continue holding public officials accountable and to amplify the voices of Ghanaians who deserve better leadership. Together, we can build a Ghana that works for all, not just a select few.
Thank you, and God bless our homeland, Ghana.
