President John Dramani Mahama has announced a 10% reward for anyone who provides credible information leading to the recovery of illegally traded or smuggled gold.

He made the announcement during the launch of the Ghana Gold Board Task Force in Accra on Monday, 8 July 2025.

This new task force has been created to crack down on illegal gold trading, smuggling, and manipulation of gold prices in Ghana’s market.

To encourage public involvement in fighting illicit gold activities, President Mahama said, “Anyone who blows the whistle is eligible to receive 10% of the seized gold or cash value. So, whistleblowers, get ready. If you report someone and gold or cash is retrieved, you will receive 10% of its value.”

At the same event, the President warned members of the task force against abusing their powers, stressing that misconduct would be dealt with severely.

“To the task force, let me be clear, abuse of authority will not be tolerated. Any officer found engaging in misconduct will face immediate sanctions, including possible dismissal, prosecution, and forfeiture of entitlements,” he said.

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Reinforcing his government’s firm stance against unlicensed gold trade, President Mahama reminded everyone that proper licensing through the Ghana Gold Board (GoldBod) is mandatory for anyone involved in gold dealings.

He also issued a strict warning to foreign nationals trading gold locally without approval.

“Let this serve as a warning to all those involved in gold smuggling and illegal trade, the law will be enforced without fear or favour. The Gold Board Act prohibits unlicensed trading and bans foreigners from purchasing gold on the local market.”

The President made it clear that breaking the law will have serious consequences.

“Any breach of this Act could result in a fine of up to 2.4 million Ghana cedis, imprisonment for five to ten years, or both. You could face a prison sentence and still be required to pay the fine. This is a clear warning to those involved in the illicit gold trade,” he concluded.

The task force will work closely with law enforcement agencies, community leaders, and other stakeholders to restore honesty and order in Ghana’s gold sector.

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