Sammy Gyamfi-led GoldBod Taskforce seizes GH₵1.4m worth of gold

The Ghana GoldBod Taskforce has made great strides by executing a significant operation in Asankragua, a town in the Western region of Ghana.

In a bold move against illegal gold trading, the regulatory body apprehended ten Chinese nationals suspected of smuggling gold, marking a pivotal moment in the fight against illicit trade and resource exploitation in the country.

The operation was a meticulous sting, showcasing the commitment and precision of the GoldBod Taskforce.

In all, authorities seized an impressive 1.3 kilograms of gold, valued at approximately 1.4 million cedis, along with 1.3 million cedis in cash and a selection of casino cards. The materials recovered suggest a potential linkage to organized crime and money laundering activities, raising alarms about the depth of illegal operations within Ghana’s gold industry.

Addressing the media shortly after the bust, Sammy Gyamfi (Esq.), the Chief Executive Officer of GoldBod, expressed the board’s dedication to enforcing the GoldBod Act 1140. This critical legislation explicitly prohibits foreigners from engaging in local gold trading, a measure designed to protect Ghanaian miners and bolster the economy.

The CEO emphasized the importance of upholding the law to safeguard the nation’s resources from exploitation.

“Today marks a significant step in our fight against illegal gold trading,” Gyamfi asserted. “We will not tolerate any individual or group that seeks to undermine our laws and exploit our resources. The GoldBod Taskforce is here to protect our gold from illegal exploitation, and we will hold accountable anyone who bypasses our regulations.”

This operation signifies a profound shift in Ghana’s stance on illegal gold trading, which has long threatened the nation’s wealth and the livelihoods of countless local miners and businesses.

The arrest of the Chinese nationals also sends a clear message: the era of unchecked smuggling is coming to an end.

The Ghana Gold Board (GoldBod) is the sole authority with exclusive right to buy, sell, weigh, grade, assay, value and export gold and other precious minerals in Ghana.

The Ghana Gold Board functions under the oversight and supervision of the Ministry of Finance of the Republic of Ghana.