
ECG raises GHS1.6bn revenue within 6 months in 2025 – Jinapor
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3rd July 2025 5:00:00 AM
3 mins readBy: Amanda Cartey
Ten Chinese nationals involved in illegal gold trading at Asankragua in the Western Region are currently in police custody.
The arrest was championed by the GoldBod Taskforce just 48 hours after the government announced a nationwide ban on foreign involvement in the local gold trade.
The culprits were nabbed from a private residence where their illicit gold transactions ensued.
In addition to the arrest, 1.3kg of gold worth nearly GHS1.4 million, over GHS1.3 million in cash, a pump-action gun, and a significant quantity of suspected money-laundering casino cards were also seized through the solid intelligence of informants.
GoldBod CEO, Sammy Gyamfi, has assured the media that the arrested individuals will face full prosecution by the laws of Ghana and not be deported.
“We mean business, and this time around, you cannot engage in illegal gold trading and gold smuggling and go scot-free,” he said.
He adds that the swift action by the task force informs illegal operators, particularly foreigners, that Ghana is stepping up efforts to bring order to the gold trade and implement its ban on foreign involvement in gold transactions.
"The grace period is over and we have given countless warnings upon warnings. And so when you are arrested now, there will not be anything like deportation," he said.
Mr Gyamfi further stated that he has told the investigators to put together a very strong and solid case, using the evidence that the workers on the ground have gatherered.
"By tomorrow, they will be arraigned before court, we will be praying the court remands them into custody for further investigations and it is our hope that we will get a favourable outcome," he added.
Meanwhile, the government is set to launch a new task force to clamp down on illicit gold-smuggling activities in the country.
Speaking at a press conference earlier this week, the Chief Executive Officer (CEO) of the Ghana Gold Board (GoldBod), Sammy Gyamfi, revealed that as part of broader measures to combat smuggling and illegal trading of gold in the country, President Mahama would launch a special task force on July 8, 2025.
He thus cautioned traders to secure the appropriate licence to engage in any form of gold trading in the country, saying, “But for those who are hell bent on trading illegally without the licenses, we are serving notice that we are coming after you”.
“This event would be the inauguration of the GoldBod task force. So, 8th of July at 8:30 a.m. at the National Security Secretariat, popularly called Blue Gate — there is a yard in there… and the media are cordially invited,” he revealed.
The task force would be given a special mandate with specific powers as police officers to wage war against smuggling and all forms of illegal gold trading activities in the country.
Meanwhile, Mr Sammy Gyamfi (Esq.) had stressed that persons who engage in gold trading without Goldbod licenses after June 21 will be prosecuted.
He stressed this during a meeting with the Chamber of Licensed Gold Buyers last month.
"As we have announced, by the 21st of this month, we shall ensure that only holders of Goldbod licenses are able to buy gold, and so if you are not licensed by the GoldBod, you cannot buy gold after June 21st. It will constitute a punishable offense to do so."
Mr Gyamfi urged the gold buyers to forge partnerships that will boost compliance with the new GoldBod licensing regime.
The acting CEO noted that the process for registering has been made seamless and is devoid of corruption.
"We have removed the human interface element and so there is no corruption, bribery, inducements, or favoritism. It is a very transparent and competitive process and once you qualify, you get the license. I don’t take or demand bribes before I issue license."
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