The Narcotics Control Commission (NACOC) has officially transferred 17 gold bars, valued at $1.7 million, to the Ghana Gold Board (GoldBod), following a seizure at the Paga Border involving two Burkinabe nationals.
The handover ceremony was held on Tuesday, July 29, at the Ministry of the Interior in Accra. It was attended by high-ranking officials, including GoldBod’s Acting CEO, Sammy Gyamfi (Esq.); the Chief Director of the Interior Ministry, Mrs. Doreen Annan; and the Director General of NACOC, Brigadier General Maxwell Obuba Mantey.
The gold, intercepted at the northern frontier, had been smuggled across the border in violation of Ghana’s mineral trade regulations. The two foreign nationals apprehended during the operation have since been charged with offenses related to the illicit handling and transportation of gold.
During the event, Mr. Gyamfi thanked NACOC for its vigilance and reaffirmed GoldBod’s readiness to deepen inter-agency collaboration in the interest of national development.
“I want to thank the Director-General of NACOC for this successful handover,” he said. “We must strengthen the partnerships between agencies to ensure we win this fight.”
Interior Minister Hon. Muntaka Mohammed-Mubarak expressed the Ministry’s ongoing commitment to support GoldBod in its mission to ensure responsible management of Ghana’s gold sector.
The handover comes as Ghana steps up efforts to combat illegal gold trading, a longstanding problem that has cost the country billions in lost revenue. Finance Minister Dr. Cassiel Ato Forson recently disclosed that during the peak of Ghana’s economic crisis in 2022, 60 tonnes of gold—estimated at $1.2 billion—left the country through unapproved routes.
Over the last decade, gold smuggling has accounted for losses totaling over $12 billion, involving roughly 600 tonnes of the precious mineral.
In response, President John Dramani Mahama, on July 8, launched a specialized GoldBod Task Force to intensify the crackdown on gold smuggling. Speaking at the inauguration, the President warned against any abuse of authority by members of the new unit.
“To the task force, let me be clear. Abuse of your authority will not be tolerated. If any of you is found engaging in misconduct, you will face immediate sanctions, and this could include dismissal, prosecution, and forfeiture of your entitlement,” he declared.
The President also introduced a whistleblower reward system, aimed at encouraging public involvement in anti-smuggling efforts. Informants who provide credible leads resulting in gold or monetary recoveries are entitled to 10% of the value in cash.
“So whistleblowers, get ready. If you blow the whistle on anybody and gold is retrieved or cash is received, you’d get 10 percent of the value of both,” he said.
The task force will operate with enhanced authority, including police powers, to enforce compliance and disrupt illegal operations across the gold supply chain.
Mr. Gyamfi said the new measures will help seal revenue leakages and increase forex inflows for national development.
“This will help the state combat and defeat the phenomenon of gold smuggling, the canker of illegal gold trading, and price disruptions that deprive the state of the needed revenue, profit, and the needed forex for our economy and the development of our country,” he explained.
He warned all industry players to acquire the required licenses, stressing that unlicensed trading will not be tolerated.
“But for those who are hell bent on trading illegally without the licenses, we are serving notice that we are coming after you,” he cautioned.
The GoldBod CEO reiterated the agency’s commitment to integrity, noting that the licensing process is now fully digitized and corruption-free.
“I don’t take or demand bribes before I issue a licence,” he told members of the Chamber of Licensed Gold Buyers at a June 5 meeting. “We have removed the human interface element, and so there is no corruption, bribery, inducements, or favouritism. It is a very transparent and competitive process, and once you qualify, you get the license.”
Since its establishment in April 2025, GoldBod has made significant strides in transforming Ghana’s gold sector. Within the first six months of the year, it has surpassed the total gold export value for 2024.
“In the whole of 2024, gold exports stood at 66 tons with an export value of $4.6 billion. We have done only six months, and yet we have crossed the $4.6 billion. We have gone beyond $5 billion, and in terms of volumes, we have done 50 tons and over, and we are optimistic that by the end of next month, we will have hit 60 tons,” Gyamfi revealed.
