Nationwide GoldBod Operation Uncovers GH¢3m, Foreign Currencies and Arms
Recovery follows nationwide enforcement operation against unlicensed gold traders
- GoldBod recovered over GH¢3.03 million in cash
- Investigations have linked foreign nationals from the US, Morocco and Burkina Faso
- Despite the enforcement drive, gold aggregation, exports and reserves recorded strong growth
GoldBod has recovered more than GH¢3.03 million in cash following its intensified nationwide operation against illegal gold trading.
The recovery was disclosed in the Board’s 2025 third-quarter statutory report, which revealed that the anti-illegal mining sweep also uncovered foreign currencies, including US dollars, CFA francs, and Moroccan dirhams.
Beyond cash, enforcement teams seized gold doré, gold dust, mercury, firearms, mobile phones, and forged documents—items commonly associated with illicit gold trading networks.
Investigations have further exposed the involvement of foreign nationals from the United States, Morocco, and Burkina Faso, heightening concerns over growing cross-border participation in illegal mining and gold smuggling.
GoldBod also disclosed that it is probing allegations that some Tier 2 licensees may have abused their licences to support unlicensed operators.
Currently, its Legal Directorate is handling 20 active cases involving individuals and entities allegedly trading without valid licences. Of these, 10 are under investigation, six suspects are on police bail, one is on court bail, one case is pending trial, while others remain under police enquiry, with one suspect already deported.
Despite the enforcement drive, the Board reported strong performance in gold aggregation, exports, reserve accumulation, and regulatory control between July and September 2025.
During the period, GoldBod aggregated 26,153.98 kilograms of gold from the Artisanal and Small-Scale Mining (ASM) sector, valued at US$2.76 billion, as part of efforts to formalise the sector.
In support of Ghana’s reserve strategy, the Board also procured 119.78 kilograms of gold worth US$11.82 million from large-scale mining companies for the Bank of Ghana, strengthening the country’s gold-backed reserves.
Gold exports also posted impressive figures, with ASM operators exporting 25,780.60kg valued at US$2.71 billion, while large-scale miners exported 24,911.21kg worth US$2.43 billion.
On the regulatory front, GoldBod processed 577 licences under its new tiered regime, including 432 Tier 2 licences, 123 Tier 1 licences, and 22 approvals for self-financed aggregators. The Board also issued two licence suspensions and one revocation, reinforcing its clampdown on illegal activity within the gold trading ecosystem.
