Indian Nationals Arrested Over Alleged Illegal Gold Trading, Major Haul of Cash and Gold Bars Seized

• The Ghana Gold Board and National Security arrested three Indian nationals for illegal gold trading
• The suspects were arrested in Anyinam, located in the Eastern Region and found with gold bars, stacks of cash, and money-counting machines
• Since May 1, 2025, all foreigners have been banned from trading in the local gold market in Ghana

Three Indian nationals have been arrested in Anyinam, Eastern Region, for allegedly trading gold illegally.

The arrests followed an operation by the Ghana Gold Board and National Security.

The state actors seized gold bars, stacks of cash, and money counting machines during the operation.

3News reported that National Security Coordinator, DCOP Abdul Osman, led the operation, which took place a few days ago.

Before this, the GoldBod said three other Indian nationals were also arrested for gold smuggling.

Those suspects were identified as Goutam Katriya, Miraj Sarvaych and Manash Damani.

They were said to be operating in Kumasi and Accra for Unique MM, a company allegedly owned by one Musah Salifu.

The suspects were arrested at their private residence around Atinga Junction in Kumasi, which had been converted into a gold trading centre.

So far, three out of six foreign nationals arrested for smuggling gold will be deported, while the remaining three will face prosecution under Ghana's new gold trading laws.

The board explained that the three were arrested before the April 30 deadline and will be deported instead of facing prosecution.

New legal regime for gold trading

Since May 1, 2025, all foreigners have been banned from trading in the local gold market in Ghana.

The GoldBod revoked all licences previously issued by the Precious Minerals Marketing Company in line with new legislation.

The Goldbod now has a monopoly on the gold trade from artisanal and small-scale mining.

Any foreigner or individual who wants to continue to be in the trade will have to apply to the Ghana GoldBod to buy or off-take gold directly from the GoldBod.

Amanda Clinton, a lawyer advising players in the gold trading space, noted some potential growing pains with this new legal regime.

"Logistical bottlenecks, delays in license issuance, and technological teething problems, e.g., with the new online licensing portal, may result in backlogs and legal exposure for traders trying to comply in good faith."

The Gold Board is aimed at economic revitalisation and would, among other things, be responsible for the sustainable management and marketing of the country's gold resources.

It would also include formalising the small-scale gold mining sector and providing mining support services for the industry.

Sammy Gyamfi denies office extravagance claims

YEN.com.gh reported that the acting head of the GoldBod, Sammy Gyamfi, denied allegations that he spent GH₵173,940 to purchase new furniture and a fridge for his office.

Gyamfi, also the National Communications Officer for the National Democratic Congress (NDC), took to his official Facebook page to respond to the allegations on Saturday, February 15, 2025.

In the post, he described the allegations as “totally false,” stating that he had not made any attempt to replace any furniture or make any changes to his office since he was given the appointment to head the Precious Minerals Marketing Company.

Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.

Source: YEN.com.gh