The Ghana Gold Board (GoldBod) has announced the arrest and prosecution of what it describes as the most elaborate gold smuggling syndicate uncovered since its establishment.
The syndicate, involving RAFMOH Gold Ltd and NK Bernak Enterprise, is alleged to have illegally purchased and attempted to smuggle gold worth over GH₵100 million in just two months.
At a press conference held at GoldBod Head Office in Accra, the Chief Executive Officer (CEO) of GoldBod, Mr. Sammy Gyamfi, Esq., disclosed the details of the investigation, arrests, and ongoing prosecutions.
He stressed that the case is a watershed moment in the fight against illegal gold trade and pledged the Board’s unwavering commitment to restoring integrity to Ghana’s gold industry.
A tip-off that triggered a major crackdown
The unravelling of the syndicate began with a patriotic act by a whistleblower, who tipped off the GoldBod Taskforce about suspicious gold movements.
Acting on this intelligence, operatives arrested one Abdul Razak Seidu at Winneba Junction on August 27, 2025.
Seidu was found carrying 9.2 kilogrammes of gold, later confirmed by tests, with an estimated market value of GH₵10.2 million.
His arrest proved to be the thread that unravelled a much larger web of criminal activity.
Under interrogation and through subsequent investigations, GoldBod operatives were led to the arrest of two other suspects: Bernard Nkrumah, a licensed Tier 2 gold buyer operating in Tarkwa under the name “NK Bernak Enterprise,” and Ibrahim Aremeyaw, a known business associate of RAFMOH Gold Ltd.
RAFMOH Gold exposed as mastermind
According to Mr. Gyamfi, evidence gathered by the Taskforce shows that RAFMOH Gold Ltd was the principal sponsor and mastermind behind the smuggling network.
Through its officers and a network of couriers, RAFMOH allegedly purchased more than 100 kilogrammes of gold—valued at over GH₵100 million—from NK Bernak Enterprise in Tarkwa within the last two months alone.
The gold, he said, was acquired illegally and prepared for smuggling out of the country, depriving the state of critical revenue.
“This is the single largest case of organised gold smuggling we have uncovered since GoldBod was set up. It demonstrates both the scale of the problem and the need for vigilance across the sector,” Gyamfi told journalists.
Prosecutions and bail conditions
Three suspects—Seidu, Nkrumah, and Aremeyaw—have since been arraigned before the High Court in Accra.
They face multiple charges, including facilitating gold smuggling, transporting gold without authorisation, and related offenses under Ghana’s mining and mineral trade laws.
The suspects were initially remanded into the custody of the National Intelligence Bureau (NIB) for two weeks.
They have since been granted bail, though Mr. Gyamfi noted that the bail conditions have yet to be met.
Four suspects on the run
GoldBod has also named four other individuals linked to the syndicate who remain at large.
They include Rafeeq Mohammed Nandoli, also known as Salam; Muhammed Afsah Puthalan; Abdul Karim; and Sadique Abubakar. Arrest warrants have been issued for their capture, and GoldBod has placed a bounty of GH₵1 million on each of them.
“The public’s cooperation is vital. Anyone with credible information about the whereabouts of these fugitives should report immediately to the nearest police station, the GoldBod Head Office at the former Bank of Ghana building on High Street, or call our toll-free hotlines,” Gyamfi urged.
The hotlines—0800 44 653 and 0800 44 654—have been dedicated for this purpose.
Sanctions and business closures
Beyond arrests, GoldBod has taken decisive regulatory actions against businesses implicated in the scandal.
The license of NK Bernak Enterprise has been suspended, and its gold trading offices in Tarkwa have been shut down.
In addition, the plush business offices of Rafmoh Jewellery, located at the Palace Mall in Accra, have also been closed.
According to Mr. Gyamfi, investigations confirm that Rafmoh Jewellery is directly tied to the illegal operations of RAFMOH Gold Ltd.
“These measures are not only punitive but also preventive. We cannot allow businesses to continue trading in gold while aiding criminal syndicates that sabotage our economy,” Gyamfi stressed.
Restoring integrity to Ghana’s gold trade
Mr. Gyamfi emphasised that the Board will pursue all individuals and businesses involved in illegal gold trading, hoarding, or smuggling without fear or favour.
He warned that anyone caught in similar acts will face the full rigours of the law.
“Ghana’s gold is a national asset. Smuggling robs the state of needed revenue for development and undermines the integrity of our mineral trade. This case is proof that no one—no matter how well-connected—will be shielded from accountability,” he declared.
The CEO also commended the whistleblower whose timely information led to the bust, saying the case underscores the importance of public vigilance in safeguarding national resources.
Broader implications
The RAFMOH Gold smuggling saga comes at a time when Ghana is grappling with tightening global scrutiny over its mineral trade. Smuggling has long been identified as one of the key challenges depriving the state of billions in foreign exchange and weakening the formal gold sector.
Observers say the aggressive stance taken by GoldBod in this case could mark a turning point in how the state combats the menace.
If successfully prosecuted, the case could set a precedent for more robust enforcement, while sending a strong deterrent message to potential offenders.
