The Ghana Gold Board (GoldBod) has suspended the gold trading licences of Dominic Bonsu Ventures and McWoode Ray 24 Enterprise with immediate effect over alleged breaches of the country’s gold trading regulations.
The suspension means the two companies are prohibited from engaging in any gold trading activities while investigations into the alleged violations continue.
In a notice issued by its Compliance Directorate, GoldBod said the action followed findings that the companies had breached the terms and conditions of their licences, the Board’s trading directives and provisions of the Ghana Gold Board Act, 2025 (Act 1140).
The Board also disclosed that it is pursuing the proprietor of Dominic Bonsu Ventures as part of ongoing enforcement proceedings, while the director of McWoode Ray 24 Enterprise has been arrested and remanded into police custody.
According to GoldBod, the High Court in Accra, following an application filed by the Board, has issued a bench warrant for the arrest of the proprietor of Dominic Bonsu Ventures to support enforcement actions and related criminal proceedings.
The Board said it is collaborating with relevant law enforcement agencies to execute the warrant.
As part of the suspension, Dominic Bonsu Ventures has been ordered to immediately stop all activities involving the purchase, sale, aggregation, transportation and other transactions related to gold.
GoldBod has also directed all licensed gold buyers, aggregators, self-financing aggregators and miners to suspend all commercial dealings with the two companies until further notice.
The Board warned that any individual or business found facilitating or engaging in gold transactions with the suspended company during the suspension period would face enforcement and regulatory action under the Ghana Gold Board Act, 2025 (Act 1140).
According to GoldBod, the action forms part of ongoing efforts to strengthen compliance with the laws, licence conditions and trading directives governing Ghana’s gold trading industry.
The Board reaffirmed its commitment to promoting integrity, transparency and orderly operations within the sector and urged all stakeholders to comply fully with the directive to avoid sanctions under the law.
GoldBod said it will continue to monitor compliance and take appropriate action against any individual or entity found to have breached the country’s gold trading regulations.
It also encouraged all licensed operators to conduct their business in accordance with the Ghana Gold Board Act, 2025 (Act 1140), and directives issued by the Board.
The Compliance Directorate reiterated that GoldBod remains committed to protecting the integrity of Ghana’s gold trading regime through effective regulation and enforcement.
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