GoldBod busts syndicate in GH¢10m gold case, sets GH¢1m reward

The Ghana Gold Board (GOLDBOD) has intercepted 8.5 kilogrammes of gold valued at more than GH¢10.2 million in what officials describe as the most elaborate gold smuggling case since the agency was established.

At a press briefing in Accra on Tuesday, September 16, 2025, the Chief Executive Officer of GOLDBOD, Mr Sammy Gyamfi, said the operation followed a tip-off on August 26 through the agency’s hotline that foreigners were financing licensed traders to buy gold on their behalf.

Acting on the intelligence, a GOLDBOD task force mounted surveillance around Winneba Junction, where a vehicle transporting the gold from Tarkwa was intercepted on August 27. A Guinean courier, Abdul Razak, was arrested during the operation.

“When he was arrested, we found in his possession three packs of a substance which we suspected to be gold. Upon assay, it was discovered that the substances were indeed gold, and they had an average purity of 92.5 per cent and a net weight of 8.5 kilogrammes,” Mr Gyamfi said.

He added that the gold had been supplied by NK Benak Enterprise, a licensed GOLDBOD trader owned by Bernard Nkroma. Both Mr Nkroma and Razak, together with another accomplice, Arim Yao, were later arrested and arraigned before the court on September 5, 2025.

Mr Gyamfi said initial investigations revealed that Rafmoh Gold Limited, owned by Rafik Mohammed Nandoli, also known as Salam, was the sponsor and mastermind of the syndicate. He disclosed that although the company was not licensed by GoldBod, it had allegedly acquired no less than 100 kilogrammes of gold between June and August 2025, valued at more than GH¢120 million.

Three suspects are currently before the court, while four others – Abdul Karim, Mohammed Afsal Putalan, Sadiq Abubakar and Mr Nandoli – have been declared wanted. GoldBod has placed a GH¢1 million bounty on each of them.

As part of enforcement measures, the licence of NK Benak Enterprise has been suspended and its outlets closed. Rafmoh’s gold trading office at Osu and its jewellery outlet at the Palace Mall have also been shut down.

Mr Gyamfi said the suspects were facing charges including dealing in gold without authorisation, facilitating smuggling, and transporting gold without authorisation. He noted that the Attorney-General’s Department, Interpol and state security agencies were directly involved in the case.

“We are determined and resolved to enforce the Gold Board Act and other laws of our land without fear or favour. Your political affiliations will not save you,” he said, urging the public to support the ongoing investigations.

Source: Graphic Online