The Ghana Gold Board (GoldBod) has suspended the gold trading licence of McWoode Ray 24 Enterprise with immediate effect, following alleged breaches of the terms and conditions of its licence and trading directives issued by the Board.
In a statement, GoldBod said the enterprise was found to have acted contrary to the provisions of the Ghana Gold Board Act, 2025 (Act 1140). The Board said the proprietor of McWoode Ray 24 Enterprise has since been arrested and is currently facing prosecution before the High Court in Accra.
According to GoldBod, the proprietor has been remanded into police custody by order of the High Court pending the continuation of the proceedings.
As a result of the suspension, McWoode Ray 24 Enterprise is prohibited from engaging in the purchase, sale, aggregation, transportation or any other transaction involving gold with immediate effect.
GoldBod has consequently directed all licensed gold buyers, aggregators, self-financing aggregators, miners and other stakeholders in the gold trading sector to immediately cease all trading, commercial transactions and business engagements involving gold with McWoode Ray 24 Enterprise until further notice.
The Board warned that any person or entity found facilitating, assisting or engaging in gold transactions with McWoode Ray 24 Enterprise during the period of suspension could be subject to appropriate enforcement and regulatory measures under the Ghana Gold Board Act, 2025 (Act 1140).
GoldBod reaffirmed its commitment to ensuring strict compliance with the laws, licence conditions and trading directives governing Ghana’s gold trading sector.
It said it would continue to take decisive enforcement action against individuals and entities whose activities undermine the integrity, transparency and orderly operation of the country’s gold trading industry.
Story by Freedom Etsey Lavoe
