In a social media post, he urged the nation to rise against what he termed a “nation-wrecking act” that has gone unchecked for far too long.

“It is time for us to be decisive and ruthless towards those who are sabotaging the economy of Ghana,” Dr Forson stated.

He warned that failure to act could further weaken the country’s financial stability and limit future development opportunities.

His comments follow alarming revelations about the scale of gold smuggling, which has reportedly cost Ghana an estimated $12 billion over the last decade.

According to the Minister, smuggling operations have not only deprived the nation of vital foreign exchange but also undermined efforts to stabilise the economy during moments of crisis.

“Ghanaians deserve better,” he said, emphasising that the fight against smuggling is not merely an economic issue but a matter of national integrity and justice.

Dr Forson maintained that defeating gold smuggling syndicates would empower the state to take full control of its natural resources and redirect revenues into key developmental projects.

“This is about protecting the future of Ghana. We cannot allow a few to rob the entire nation,” he said.

Source: Ernest Arhinful

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The suspects, identified as Goutam Katriya, 35, Miraj Sarvaych, 22, and Manash Damani, 42, are Indian nationals engaged in gold trading activities in Kumasi and Accra on behalf of Unique MM, a company allegedly owned by one Musah Salifu.

They were arrested at a private residence near Atinga Junction in Kumasi, which had reportedly been converted into a gold trading hub.

The arrest followed a tip-off from a patriotic whistleblower who reported that the suspects were buying gold at “black market” rates for smuggling purposes.

At a press conference in Accra, the Director of Investigations at National Security, Chief Superintendent Osman Alhassan, disclosed that GH₵1.9 million, 4,500 Indian rupees, 4.363 kilograms of gold, two counting machines, a CCTV recorder, and an Indian passport were found in their possession.

Preliminary investigations by National Security revealed that none of the suspects possesses a valid license to buy or trade gold in Ghana.

The suspects, who have reportedly operated in the country for over a decade, were also unable to provide residence permits, work permits, or tax payment records related to their business activities.

Further investigations indicate that Musah Salifu, the Ghanaian listed as the sole shareholder of Unique MM, is merely a front for Goutam Katriya, who is the real beneficial owner and alter ego of the company.

Chief Superintendent Alhassan issued a strong warning to both Ghanaians and foreign nationals against violating the Ghana Gold Board Act and other laws regulating the gold trade in the country.

“This arrest is only the beginning of GoldBod’s ruthless war against illegal gold trading and smuggling. We know the arrested suspects smuggle gold through unapproved border points into India.

“This has serious negative consequences for the Ghanaian economy. We are still gathering intelligence on several illegal gold traders and smugglers. Very soon, we shall take necessary action,” he stated.

The suspects will remain in NIB custody until May 12, 2025, when they are scheduled to reappear before the court.

In a related development, GoldBod has reiterated its directive for all foreigners engaged in gold trading to exit the market by April 30, 2025.

All individuals involved in gold transactions have also been directed to trade in Ghana cedis at the Bank of Ghana Reference Rate.

Any breach of these directives constitutes a punishable offense under the GoldBod Act, 2025 (Act 1140), as outlined in a press release issued by the Board on April 23, 2025.

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