The announcement was made during a press briefing on May 14 in Accra by Prince Minkah, the spokesperson for GoldBod. He explained that the decision was based on the timing of the arrests in relation to the April 30 deadline set for all foreign nationals to exit Ghana’s local gold trade.

The first group of suspects, all Indian nationals, was arrested in the Ashanti Region before the enforcement of the new law. While they were found to be in breach of existing regulations at the time, they fell outside the scope of Act 1140 and will therefore be repatriated.

“They will be repatriated to their home country to reunite with their families,” Mr Minkah said, noting that the arrests took place before the legal cutoff.

The second group, however, was apprehended in Anyinam after the April 30 deadline and will be prosecuted in accordance with the new legislation, which reserves the right to trade gold locally solely for the Ghana Gold Board.

“If you’re a foreigner and caught trading gold illegally, you will face the law,” Minkah warned, adding that the law was designed to end smuggling and restore transparency in Ghana’s gold sector.

Authorities recovered several items from the suspects facing prosecution, including gold counting machines and large sums of U.S. currency. These have been confiscated as evidence.

The Ghana Gold Board Act, 2025, aims to regulate gold trading more strictly and curb the activities of illegal exporters. Under the new law, foreign individuals and entities are completely barred from operating in the domestic gold market.

Mr Minkah reiterated the Board’s commitment to enforcing the new rules rigorously and in collaboration with national security agencies. “The rules are clear. Foreigners can no longer operate in our local gold trade. There will be no excuses moving forward,” he stated.

GoldBod says surveillance operations have been intensified and warned that further violations will be met with swift and severe consequences.