The Ghana Gold Board (GoldBod) has issued a firm warning to individuals and businesses involved in gold trading without a valid GoldBod license, stating that such activities are now criminal offenses under the Ghana Gold Board Act, 2025 (Act 1140).

Speaking at a media briefing, GoldBod Chief Executive Officer, Sammy Gyamfi, emphasized that anyone found operating outside the new licensing framework will face serious legal consequences, including a minimum of five years and up to ten years in prison.

“I strongly caution all individuals not to engage in illegal gold trading. The law is clear, and enforcement has begun,” Gyamfi declared.

As part of the new gold regulation regime, all previously issued licenses by the Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources became invalid after a non-extendable deadline of June 21, 2025.

To ensure a smooth transition, GoldBod has kept its online licensing portal open, allowing gold dealers to register and obtain valid licenses under the current framework.

In a significant enforcement move, Gyamfi announced the establishment of a nationwide task force, created in collaboration with President John Mahama. The task force will be responsible for monitoring compliance across the country and will be equipped with modern tools such as body cameras and GPS tracking devices. All field operations will be monitored in real time from the GoldBod headquarters to ensure transparency and accountability.

“Gold dealers are strongly advised to regularize their operations to avoid legal consequences,” Gyamfi stated.