GoldBod honours NACOC with GH¢12.65 million for landmark Gold seizure

The Ghana Gold Board (GoldBod) has presented GH¢12,645,862.48 to the Narcotics Control Commission (NACOC), representing 50 percent of the proceeds from the sale of 17 gold bars seized from illicit gold traders in 2025.

The gesture underscores GoldBod’s commitment to strengthening inter-agency collaboration in the fight against illegal gold trading, while rewarding intelligence-led operations that protect Ghana’s mineral resources and safeguard the integrity of the gold sector.

Presentation ceremony

At a presentation ceremony held on Wednesday, July 15, 2026, at the GoldBod head office in Accra, the Chief Executive Officer of GoldBod, Sammy Gyamfi, explained that the payment aligns with the Board’s policy of rewarding individuals and institutions whose intelligence leads to the arrest of illegal gold traders and the recovery of unlawfully traded gold.

Expanded incentive framework

According to Mr. Gyamfi, GoldBod’s policy entitles informants to 10 percent of the value of recovered gold. However, the Board has expanded the incentive framework to recognise not only informants but also officers and institutions involved in executing such operations.

He disclosed that the Board of Directors has approved an additional 20 percent reward for officers directly engaged in intelligence gathering and enforcement, in recognition of the risks they undertake in protecting the nation’s mineral wealth.

Furthermore, NACOC, as the institution that deployed personnel, logistics, and operational resources for the mission, was allocated 20 percent of the proceeds. This brings the Commission’s total reward to 50 percent.

Valuation of seized Gold

Mr. Gyamfi revealed that following assay and valuation, the 17 gold bars were estimated at approximately GH¢25 million. This resulted in NACOC receiving GH¢12,645,862.48 as its share.

He noted that the incentive scheme is designed to encourage intelligence sharing and deepen collaboration with state security agencies in combating illicit gold trading, smuggling, and other offences within the gold value chain.

Appreciation

Receiving the cheque on behalf of NACOC, the Director-General, Maxwell Obuba Mantey, expressed appreciation to GoldBod for fulfilling its commitment.

He commended the Board for demonstrating integrity and accountability, describing the gesture as a strong motivation for law enforcement agencies working to protect Ghana’s strategic resources.

Operation fraught with risk

Major General Mantey disclosed that the operation was not without danger. He revealed that the principal informant—an officer of the Commission—faced serious threats after providing intelligence that led to the arrests and seizure.

According to him, the severity of the threats required the deployment of military protection to ensure the officer’s safety.

He praised the courage and professionalism of the officers involved, adding that although illegal gold trading is not NACOC’s core mandate, the Commission remains committed to supporting national efforts whenever the need arises.

Strengthening national collaboration

Major General Mantey reaffirmed NACOC’s readiness to continue collaborating with GoldBod and other state institutions to combat illicit activities that deprive the country of much-needed revenue.

The presentation marks another milestone in GoldBod’s efforts to strengthen enforcement against illegal gold trading through strategic partnerships with security agencies and intelligence institutions.

By rewarding credible intelligence and successful enforcement actions, GoldBod aims to encourage greater public participation in exposing illicit gold trading, while reinforcing the government’s broader agenda of formalising Ghana’s gold sector, protecting national resources, and ensuring that the country’s mineral wealth contributes meaningfully to economic growth and development.