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National Security Declares Ruthless War on Illegal Gold Trading and Smuggling  

 

Ghana’s National Security has intensified efforts to combat illegal gold trading and smuggling, with the Director of Investigations, Chief Superintendent Osman Alhassan, leading the charge. Speaking at a press conference in Accra, he vowed that the agency would take decisive action to dismantle illegal operations undermining the country’s gold industry.

Chief Superintendent Alhassan issued a stern warning to both local and foreign individuals engaged in illegal gold activities, emphasizing that violations of the Ghana Gold Board Act and other related laws will not be tolerated.

This declaration follows the arrest of three suspected gold smugglers by the specialized GoldBod Security Task Force. The suspects, identified as Indian nationals—Goutam Katriya (35), Miraj Sarvaych (22), and Manash Damani (42)—are accused of operating an illicit gold trading center in Kumasi. The trio allegedly worked for Unique MM, a company reportedly owned by a Ghanaian, Musah Salifu, who is suspected of being a proxy for Katriya, the alleged true owner and mastermind behind the operation.

High-Stakes Arrest and Discovery

Acting on a tip-off from a whistleblower, the task force raided a private residence at Atinga Junction in Kumasi. The property, converted into a clandestine gold trading hub, revealed a treasure trove of evidence. Authorities confiscated 4.363 kilograms of gold, GHS 1.9 million, 4,500 rupees, two counting machines, a CCTV recorder, and an Indian passport.

Preliminary investigations revealed that the suspects lacked valid licenses to trade in gold within Ghana. Despite over a decade of operations, they were unable to produce residence permits, work permits, or tax records for their business activities.

Smuggling Operation Exposed

According to National Security, the suspects were purchasing gold at black market rates for smuggling through unapproved border points into India. Chief Superintendent Alhassan highlighted the economic harm caused by such activities, which deprive the nation of significant revenue.

“This arrest is just the tip of the iceberg,” Alhassan stated. “We are actively gathering intelligence on several illegal gold traders and smugglers. Let this serve as a warning: we are coming for you.”

The three suspects were arraigned before the Achimota Circuit Court and remanded in custody until May 12, 2025, for further investigations.

Sector-Wide Crackdown

In a related development, GoldBod, Ghana’s regulatory authority for the gold industry, has ordered all foreign nationals involved in gold trading to exit the sector by April 30, 2025. Additionally, all gold transactions are now mandated to be conducted in Ghana cedis at the Bank of Ghana Reference Rate.

A press release from GoldBod, dated April 23, 2025, warned that violations of these directives would attract severe penalties under the newly enacted GoldBod Act, 2025 (ACT 1140).

This comprehensive crackdown signals Ghana’s determination to protect its gold resources and ensure that the sector operates within legal and ethical boundaries. The government’s renewed focus on enforcement is expected to bring much-needed accountability and transparency to the gold trading industry.

Story by: Mercy Addai Turkson #ahotoronline.com

 

 

 

 

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