The acting Managing Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi, has highlighted the transformative potential of the upcoming GoldBod Bill in addressing Ghana’s long-standing issue of gold smuggling.
During an appearance on JoyNews PM Express on Tuesday, March 25, Gyamfi explained that the bill, once passed, will grant GoldBod inspectors enhanced powers to tackle illegal gold trading.
These inspectors will be empowered with the authority to act akin to law enforcement officers, allowing them to conduct searches, seize contraband gold, and initiate legal proceedings against offenders.
Gyamfi expressed that Ghana has faced significant challenges in enforcing laws on gold smuggling due to the lack of a dedicated agency tasked with overseeing the issue. While security agencies have been involved, the enforcement has been disjointed.
The GoldBod Bill, however, will introduce a more structured approach. Under the bill, GoldBod inspectors will possess police-like powers, such as the authority to search premises, demand documentation, seize smuggled gold, and even take offenders to court for prosecution.
“This is a pivotal step in the fight against illegal gold smuggling. With the powers outlined in this bill, GoldBod inspectors will be able to act decisively and swiftly to clamp down on smuggling operations,” Gyamfi stated.
The bill is designed not only to empower GoldBod inspectors but also to create a collaborative task force that will work alongside national security agencies, the Ministry of the Interior, and the Ministry of Defence. This joint effort aims to strengthen enforcement actions and ensure that gold smugglers face the full force of the law.
Mr. Gyamfi further emphasized that this initiative will be a significant milestone in Ghana’s battle against gold smuggling, stating, “Once the bill is passed and the President assents to it, it will mark the first time that we will see serious arrests, the seizure of smuggled gold, and successful prosecutions. While we may not eliminate smuggling entirely, we will be taking significant steps to ensure offenders are held accountable.”
The GoldBod Bill is expected to centralize the regulation of the gold sector and introduce stricter monitoring of gold exports.
Gyamfi’s remarks underscore the importance of this legislative move in curbing illegal gold trade, safeguarding Ghana’s foreign exchange reserves, and protecting the country’s mining industry from exploitation by smugglers.
