An effective operation by the National Security and the Ghana Gold Board, has averted the illegal smuggling of gold outside the jurisdiction of the country by some recalcitrant foreign nationals.

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Gold, cash, food and currency counting machines were intercepted today during the operation.

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The arrest comes after Goldbod ordered that all foreign nationals involved in gold trading exit the sector by April 30.

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“A breach of these directives shall constitute a punishable offense under the GoldBod Act, 2025 (Act 1140),” stated a press release dated April 23.

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Smuggling of gold has an adverse impact on the country’s economy. Finance Minister Dr Cassiel Ato Forson has noted that Ghana lost an estimated $1.2 billion in gold revenue in 2022 due to illegal smuggling.

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In March this year, the sector minister, while addressing stakeholders after a meeting with officials from the UK-Ghana Gold Programme, outlined the government’s renewed efforts to curb gold smuggling and ensure Ghana benefits fully from its mineral wealth.

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Goldbod will oversee the gold sector, tackle illegal trade, and promote responsible sourcing in line with global standards such as the London Bullion Market Association (LBMA) certification.

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In April, GoldBod security taskforce arrested three Indian nationals suspected of engaging in illicit gold trade in a targeted operation in Kumasi.

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The suspects; Goutam Katriya (35), Miraj Sarvaych (22), and Manash Damani (42), were nabbed at a private residence around Atinga Junction that had been converted into an unauthorised gold trading hub.

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An amount of 1.9 million cedis, 4,500 rupees, 4.363 kilograms of gold, two counting machines, a CCTV recorder, and an Indian passport were found in the possession of the suspects.

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The suspects had no valid licenses to grade gold within the country and could not produce any residence or work permits, nor any tax documentation related to their operations, according to preliminary findings.

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