The Ghana Gold Board (GOLDBOD) has achieved a significant victory in its fight against illegal gold trading, unearthing a sophisticated smuggling operation that involved both local and international actors. The operation, revealed in a press briefing on September 16, 2025, resulted in the seizure of 8.5 kilograms of gold, valued at over GH¢10.2 million, the largest single seizure since the board’s inception. This success underscores GOLDBOD’s commitment to safeguarding Ghana’s gold resources and upholding the integrity of the precious metals trade. The operation’s complexity and the involvement of licensed traders highlight the evolving challenges faced by regulatory bodies in combating illicit activities within the gold sector.
The investigation commenced following an anonymous tip received through GOLDBOD’s hotline on August 26, 2025. The tip-off alerted authorities to the involvement of foreign financiers who were allegedly utilizing licensed local gold traders to procure gold illegally. Acting swiftly on this intelligence, GOLDBOD’s task force initiated a surveillance operation, leading to the interception of a vehicle at Winneba Junction on August 27. The vehicle, en route from Tarkwa, a major gold mining area in Ghana, was found to be transporting the illicit gold. A Guinean national, Abdul Razak, was apprehended during the operation, and three packages containing a substance suspected to be gold were discovered in his possession. Subsequent assays confirmed the substance to be gold with a high purity of 92.5 percent and a net weight of 8.5 kilograms.
The trail of the seized gold led investigators to NK Benak Enterprise, a licensed gold trading company owned by Bernard Nkroma. This discovery exposed a critical vulnerability in the system, where licensed operators were being exploited by criminal networks to facilitate their illicit activities. Both Nkroma and Razak, along with another suspect, Arim Yao, were subsequently arrested and brought before the court on September 5, 2025. Their arrests marked a significant step in dismantling the network and holding those responsible accountable for their actions. The involvement of a licensed trader underscored the need for heightened vigilance and stricter oversight within the gold trading sector.
Further investigation into the intricate network revealed the alleged mastermind behind the operation, Rafmoh Gold Limited, a company owned by Rafik Mohammed Nandoli, also known as Salam. While Rafmoh Gold Limited lacked the necessary license from GOLDBOD, it was discovered to have allegedly acquired over 100 kilograms of gold between June and August 2025, valued at a staggering GH¢120 million. This substantial amount points to the scale of the illicit operation and the potential financial losses to the state due to unpaid taxes and royalties. The identification of the financier as the mastermind underscored the sophisticated nature of the operation and the need for a multi-pronged approach to combatting such criminal enterprises.
As the investigation progressed, four additional suspects, Abdul Karim, Mohammed Afsal Putalan, Sadiq Abubakar, and Mr. Nandoli himself, were identified as key players in the smuggling ring. These individuals were subsequently declared wanted by GOLDBOD, with a bounty of GH¢1 million placed on each of their heads to incentivize public assistance in their apprehension. This measure demonstrates the authorities’ commitment to bringing all those involved to justice and dismantling the entire network. The ongoing search for these individuals highlights the challenges in pursuing international criminal networks and the need for international cooperation in law enforcement.
In response to the uncovered smuggling operation, GOLDBOD has implemented decisive enforcement measures. The license of NK Benak Enterprise has been suspended, and all its trading outlets have been shut down, effectively severing its ability to participate in the gold trade. Furthermore, Rafmoh Gold’s trading office in Osu and its jewellery shop at the Palace Mall have been sealed to prevent further illegal activities and preserve potential evidence. These actions reflect GOLDBOD’s commitment to enforcing regulations and ensuring the integrity of the gold market. The suspects are facing multiple charges, including dealing in gold without authorization, facilitating smuggling, and transporting gold without authorization.
The prosecution of the arrested individuals is being pursued diligently, with the involvement of the Attorney-General’s Department, Interpol, and other state security agencies. This collaborative approach ensures a robust and comprehensive prosecution, leveraging the expertise and resources of various agencies. Mr. Gyamfi, CEO of GOLDBOD, emphasized the unwavering commitment to uphold the Gold Board Act and other relevant laws, irrespective of political affiliations. He also appealed to the public for continued support and cooperation in the ongoing investigation, highlighting the crucial role of public vigilance in combating illegal activities. This collaborative approach between law enforcement and the public is essential in dismantling complex criminal networks and safeguarding national resources. The successful uncovering of this sophisticated smuggling operation represents a significant achievement for GOLDBOD, demonstrating its capacity to effectively combat illicit gold trading and protect Ghana’s economic interests. The ongoing investigation and prosecution will serve as a strong deterrent to others contemplating similar criminal activities, reinforcing the message that such actions will be met with swift and decisive action.
