Group Petitions Special Prosecutor, EOCO Over Role Of Alleged Shady Firm in Goldbod Operations
- Concerned Citizens of Ghana has filed a petition to probe a company involved in some Gold Board operations
- The petition alleges that one Roger Kwakye's central role violates the GoldBod Act's licensing requirements
- The group called for an investigation and suspension of unlicensed Gold Board operations and contracts
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A group calling itself Concerned Citizens of Ghana has petitioned state investigative bodies to probe the alleged unlawful involvement of an unlicensed entity in the Ghana Gold Board's operations.
The group is concerned with potential abuse and financial loss to the state.
Source: Facebook
In the petition addressed to the Office of the Attorney-General, the Office of the Special Prosecutor, and the Economic and Organised Crime Office, GBC News reported that concerns were raised about the activities of one Roger Frimpong Kwakye.
Asaase News reported that the petition alleges that Kwakye is playing a central role in critical GoldBod activities despite his company, Goldstrom, not being a licensed entity.
According to the petitioners, this constitutes a clear violation of the GoldBod Act, which restricts key functions like assaying, smelting, and pricing of gold to certified and licensed entities.
"How does an individual under serious criminal investigation, including matters relating to financial loss to the State, meet the fit-and-proper standard required to participate, influence, and shape GoldBod operations?"
Allegations of contract irregularities against GoldBod
The petitioner claimed that Kwakye allegedly contracted his foreign-based refinery to assay and smelt gold for BAWA-ROCK LTD on behalf of Ghana GoldBod.
It further claims he has been facilitating fund distribution for license holders via WhatsApp and was engaged to organise traceability training without proper tendering.
The petitioner called for an immediate investigation into Kwakye’s role, Goldstrom’s involvement, and the legality of all related contracts.
They also demand the suspension of any individual or entity operating within GoldBod without the requisite license or employment status under the Act.
Minority demands investigations into GoldBod operations
Addressing the press on Monday, December 29, 2025, on behalf of the Minority, Kojo Oppong Nkrumah demanded a bipartisan committee to probe the GoldBod after $214 million in losses by the Bank of Ghana's gold trading operation.
It wants the Bank of Ghana and the GoldBod to provide clarity on their fee structure, pricing mechanisms, aggregator selection criteria, and foreign exchange arrangements in connection with the Gold-for-Reserves programme.
Source: Facebook
“Under this bipartisan enquiry, we will be expecting the BoG and the GoldBod to publish the fee structure, the pricing formula, the aggregator selection criteria, and all foreign exchange arrangements that they have tied to this scheme, which has led to this loss."
The CEO of the GoldBod, Sammy Gyamfi, welcomed the Minority's demand for a probe into how the $214 million loss was incurred.
Kobby Mensah slams NPP over GoldBod probe
YEN.com.gh reported that Professor Kobby Mensah criticised the Minority for calling a press conference to demand a probe into $214 million gold trade losses at the Bank of Ghana.
In a post on X, Mensah, the Ghana Tourism Development Company CEO, suggested the press conference was needless.
Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.
Source: YEN.com.gh
