Gold Board Seizes GH₵35 Million in Crackdown


The Ghana Gold Board (GGB), n collaboration with the National Security Secretariat, has arrested ten Chinese nationals involved in illegal gold trading and smuggling operations in the Western Region. The suspects were apprehended during a sting operation in Asankrangwa, where they had converted a private residence into an illegal gold buying and smelting facility.

Addressing the media in Accra, Chief Executive Officer of the Gold Board, Mr. Sammy Gyamfi, revealed that the raid followed actionable intelligence gathered by undercover agents stationed across the country.

“We got solid intelligence that about ten Chinese nationals were illegally buying gold in Asankrangwa to smuggle it out of Ghana. Under the cover of darkness, our task force, working with national security, moved in and arrested all of them,” Mr. Gyamfi stated.

The operation resulted in the seizure of approximately 1.3 kilograms of smelted gold, worth an estimated GH₵1.4 million, alongside cash exceeding GH₵1.3 million and several stacks of casino currency believed to be part of a money-laundering scheme. Two large safes were also discovered at the scene, along with twelve unlicensed pump-action guns and a cache of ammunition.

According to the Gold Board CEO, despite the recent implementation of the Ghana Gold Board Act, 2025 (Act 1140), which prohibits foreign nationals from engaging in gold trading, many continue to defy the law.

“We gave foreigners ample grace period to exit the gold market. Now, that grace period is over. Arrests will lead to prosecution, not deportation,” he emphasized.

Mr. Gyamfi disclosed that detailed records of gold purchases, some written in Chinese, were found at the premises, confirming long-term illegal activity. The suspects, he added, would be arraigned in court imminently and face charges under Ghana’s revised gold trading regulations, which carry prison terms of up to 25 years.

Since the Gold Board’s market enforcement operations began, it has conducted 17 successful busts across regions such as Ashanti, Central, Eastern, and Western. These have resulted in the seizure of over 12 kilograms of gold and GH₵23 million in cash, bringing the total estimated value of confiscated assets to over GH₵35 million.

Mr. Gyamfi noted that all seizures are being handled transparently under the provisions of the Gold Board Act. “None of the seized gold or money will be returned. They will be auctioned, and the proceeds used for public benefit, especially in mining communities.”

He concluded with a call for public support, stating that more enforcement operations would be rolled out ahead of the official inauguration of the Gold Board Task Force by the President on July 8.

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