Gold Board Vows to Resist Political Pressure After 25 Arrested for Illegal Gold Trading

BusinessMining and Natural Resources
Written By Abdul Rahman Taofiq

Deputy Chief Executive Officer of the Ghana Gold Board (GoldBod), Richard Nunekpeku- Photo credit GoldBod

Accra, Ghana – The Deputy Chief Executive Officer of the Ghana Gold Board (GoldBod), Richard Nunekpeku, has reaffirmed that the agency will not bow to political influence in its enforcement of Ghana’s gold-sector regulations. His statement follows the arrest of 25 individuals including several foreign nationals for alleged involvement in illegal gold trading, smelting, and fabrication without licenses.

“At GoldBod, if you fall foul of the law, we don’t know any party colour. No call from anybody. We will not succumb to any pressure,” Mr. Nunekpeku stated. “We will continue to do our work within the confines of the law, respect the rights of every individual we arrest, and ensure fair legal representation.”

The joint operation, conducted between November 5 and 6, 2025 by GoldBod and National Security, forms part of government’s drive to formalize the downstream gold value chain under the new Ghana Gold Board Act, 2025 (Act 1140).

The first raid targeted Mahalaxmi Ghana Limited in Dome Kwabenya, where four Indian nationals and one Ghanaian were arrested for allegedly smelting gold and manufacturing jewelry without a license.

“Investigations revealed that Mahalaxmi Ghana Limited was purchasing and fabricating gold jewelry without authorization in direct violation of the Gold Board Act,” Mr. Nunekpeku disclosed.

Recovered exhibits included 26 pieces of GRA-marked emerald stones, 19 gold rings, and a safe containing GH₵ 22,670.00, assorted ornaments, and three gold bars valued at approximately GH₵ 453,000.00.

In a related operation at Legend Precious Metal in Achimota-Akweteman, the task force arrested 20 more suspects allegedly involved in illegal gold smelting, assaying, and cross-border trading.

Authorities seized eight suspected gold bars, $112,500 in cash, GH₵ 64,014.00, and several trade documents. Two suspects were found in possession of side arms.

Mr. Nunekpeku emphasized that only duly licensed persons are permitted to participate in gold trading or jewellery manufacturing in Ghana.

“Engaging in these activities without a valid GoldBod license constitutes a criminal offence punishable by law,” he cautioned, adding that the agency’s new enforcement strategy is designed to curb smuggling, protect national revenue, and ensure ethical practices across the sector.

Fourteen of the suspects were arraigned before court on November 10, while investigations continue into the remaining cases.

“We will not in any way or manner release or deal with anybody because a call had come from anywhere,” Mr. Nunekpeku reiterated.

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Abdul Rahman Taofiq

Abdul Rahman Taofiq is a news reporter with DM Media Group.

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