The Ghana Gold Board’s security taskforce has arrested six individuals, including foreign nationals, for allegedly engaging in unlicensed gold trading activities in Accra, marking another significant enforcement action under the country’s new gold sector regulations.
The suspects include American citizen Smart Philander, his Moroccan wife Nina Elfseky, and four Ghanaian accomplices—Nana Yaw Sarpong Boateng, Sowa Elisha, Evans Arhin, and Anorld Otutey.
The group was apprehended while attempting to purchase and assay approximately 2.1 kilograms of gold, valued at GHS 2.2 million, without possessing the mandatory licence required under the Ghana Gold Board Act, 2025.
The arrests demonstrate the intensified regulatory enforcement sweeping through Ghana’s gold industry following the implementation of comprehensive licensing requirements.
The six accused persons have been arraigned before an Accra Circuit Court on multiple charges, including conspiracy to trade in gold without a licence, engaging in unlicensed gold trading and assaying, and attempting to refine gold illegally.
Investigations by GoldBod officials revealed troubling patterns in the operations of the suspects. Further inquiries established that the American suspect was operating in Ghana’s gold trade without proper authorization, raising concerns about the extent of unregulated foreign participation in the country’s precious minerals sector.
The Ghana Gold Board Act, 2025, represents a watershed moment in the country’s efforts to formalize and regulate its gold industry.
The legislation established a mandatory licensing regime for all businesses in the gold trading and marketing industry, requiring licences for activities including aggregation, buying, selling, assaying, exportation, importation, refining, processing, and transportation.
The law carries substantial penalties for violations, underscoring the government’s commitment to stamping out illegal gold trade.
This latest operation forms part of a broader crackdown by GoldBod’s taskforce against unlicensed gold dealers operating in Ghana.
The enforcement body has recorded multiple successful operations in recent months, including the arrest of Indian and Chinese nationals involved in similar activities across various regions of the country.
The arrests send a clear message to both local and foreign operators in Ghana’s gold sector that the days of unregulated trading are over.
As the country works to maximize revenue from its mineral resources while combating smuggling and illicit financial flows, the GoldBod taskforce appears determined to pursue all individuals and entities operating outside the legal framework, regardless of nationality or business connections.
The case against the six accused persons continues in court, where they face serious charges that could result in substantial fines and imprisonment if convicted.
The outcome will likely serve as a precedent for future enforcement actions in Ghana’s evolving gold industry landscape.
Story Written By Prince Asante Kwarteng | Kobby Kyei News
