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Gifting dollars when cedi is appreciating unjustifiable

CEO of Goldbod, Sammy Gyamfi CEO of Goldbod, Sammy Gyamfi

Former Member of Parliament for Kumbungu Constituency, Ras Mubarak, has criticized Sammy Gyamfi, Chief Executive Officer of Goldbod, over a viral social media video showing him gifting an undisclosed amount of dollars to fetish priestess turned pastor, Patricia Asiedua, popularly known as Agradaa.

Mubarak argued that such actions could undermine the value of the local currency and have serious consequences for the economy.

In a Facebook post sighted by GhanaWeb, he stated that Sammy Gyamfi’s actions could be interpreted as a lack of confidence in the cedi, despite its recent appreciation.

He urged government office holders to demonstrate confidence in the cedi and the economy, discouraging the practice of giving away forex.

“For government office holders, it’s expected that they prioritize national interests and show confidence in our country’s economy and currency. You cannot justify or defend a public office holder giving away forex, especially when the cedi is performing well. Even if the foreign currency is well-earned, such actions could weaken the local currency and economy,” part of his post read.

“Already, we are struggling with schools, hotels, and property owners charging in USD. Sammy Gyamfi’s poor judgment could be seen as a lack of confidence in the cedi and a contradiction of government regulations. This could negatively impact the cedi’s value and stability,” he added.

Read Ras Mubarak’s Facebook post below:

Ras Mubarak ‘orders’ GRA to chase Agradaa to pay gift tax on dollars cash out

Following Agradaa’s receipt of dollars from the Chief Executive Officer of Goldbod, Sammy Gyamfi, former Member of Parliament for Kumbungu Constituency, Ras Mubarak, has called on the Ghana Revenue Authority (GRA) to ensure she pays the required gift tax on the amount received.

He stated that the payment of gift tax is enshrined in law, and Agradaa must fulfill her tax obligations.

In Facebook post sighted by GhanaWeb, the former MP said, “On Mama Pat ‘Agradaa,’ she has to pay gift tax. It’s the law. The Ghana Revenue Authority must go after Agradaa for the tax component on the gift.”

His comment follows a viral social media video showing Sammy Gyamfi gifting Agradaa an undisclosed amount of dollars.

Mubarak also argued that Sammy Gyamfi’s actions could undermine the value of the local currency and negatively impact the economy.

Meanwhile, Sammy Gyamfi has apologized for his actions, stating that his intent was to assist those in need.

He described the incident as unfortunate and regrettable.

SA

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