General News of Wednesday, 14 May 2025
Source: www.ghanawebbers.com
The Ghana Gold Board (GoldBod) is changing its approach to gold smuggling. They are now enforcing the new Ghana Gold Board Act, 2025 (Act 1140).
During a press briefing on May 14, spokesperson Prince Minkah shared important updates. Three foreign nationals arrested before April 30 will be deported. Another three caught after the law took effect will face prosecution.
All six suspects are foreign nationals. They were arrested in two operations: one in the Ashanti Region and another in Anyinam. The timing of each arrest determines their legal consequences.
Minkah explained that the deportees will return to their home country. These Indian nationals were arrested before the new regulations started. Although they violated existing laws, their actions did not fall under Act 1140 yet.
The second group apprehended after April 30 faces harsher penalties. They will be prosecuted under the new law, which restricts gold trading to GoldBod only. “If you’re a foreigner caught trading gold illegally, you will face the law,” Minkah warned.
Authorities seized several items from this group, including gold counting machines and cash in U.S. dollars. These items will serve as evidence during their prosecution.
The Ghana Gold Board Act aims to reduce illegal gold exports and control mineral trade better. It provided a transition period for foreign actors to exit the market, which ended on April 30.
Minkah emphasized that the law seeks to restore integrity in the gold trade and benefit Ghana directly from its resources. As enforcement increases, GoldBod is enhancing surveillance and working with security agencies.
“The rules are clear,” he stated. “Foreigners can no longer operate in our local gold trade.” There will be no excuses moving forward.