By Daniel Bampoe
The Ghana Gold Board (GoldBod) has announced a major breakthrough in its fight against illegal gold trading, uncovering what it describes as the most sophisticated gold smuggling syndicate in the country’s recent history.
The case involves Rafmoh Gold Ltd, a company with wide operations in Accra, and NK Bernak Enterprise, a licensed gold buying firm in Tarkwa.
The development was disclosed on Tuesday, September 16, 2025, at a press briefing in Accra by the Chief Executive Officer of GoldBod, Sammy Gyamfi, who revealed that both arrests and prosecutions are already underway, while manhunts have been launched for other suspects who remain at large.
How The Syndicate Was Busted
According to Gyamfi, the chain of arrests began with a tip-off from a patriotic whistleblower, which led the GoldBod Taskforce to apprehend one Abdul Razak Seidu at Winneba Junction on August 27, 2025.
Razak Seidu was found carrying 9.2 kilograms of raw gold concealed in his vehicle.
Subsequent tests confirmed the gold’s authenticity, placing its market value at approximately GHS10.2 million.
This initial arrest triggered broader investigations, which soon exposed the operations of a vast network allegedly coordinated by Rafmoh Gold Ltd.
The Taskforce operatives established that Rafmoh, through its associates and couriers, had illegally purchased over 100 kilograms of gold valued at more than GHS100 million from NK Bernak Enterprise in just two months.
The arrests did not stop at Seidu. Investigators picked up Bernard Nkrumah, a Tier-2 licensed gold buyer who owns NK Bernak Enterprise in Tarkwa, and Ibrahim Aremeyaw, a known business associate of Rafmoh Gold Ltd. Both men are believed to be central figures in facilitating the illicit trade.
Prosecution in Court
All three suspects have since been arraigned before the High Court in Accra.
They face multiple charges, including facilitating gold smuggling, unauthorized transportation of gold, and direct involvement in smuggling activities.
The court initially remanded them into the custody of the National Intelligence Bureau (NIB) for two weeks before granting them bail.
However, Gyamfi confirmed that as of Tuesday, their bail conditions were yet to be met, leaving them still in custody.
4 Suspects Still On Run
While three are in custody, four key suspects remain fugitives.
They include Rafeeq Mohammed Nandoli, also known as Salam; Muhammed Afsah Puthalan; Abdul Karim; and Sadique Abubakar.
GoldBod, in collaboration with the Ghana Police Service, has secured arrest warrants for all four and placed a bounty of GHS1 million on each.
Members of the public with credible information about their whereabouts have been urged to contact the nearest police station or reach out to GoldBod via its toll-free hotlines: 0800 44 653 and 0800 44 654.
Crackdown On Companies Linked To Syndicate
In response to the findings, GoldBod has moved swiftly to suspend the license of NK Bernak Enterprise and shut down its offices in Tarkwa.
Similarly, Rafmoh Jewelry, a subsidiary of Rafmoh Gold Ltd operating at the Palace Mall in Accra, has been ordered closed for its direct connection to the smuggling operations.
Gyamfi stressed that these measures form part of a broader campaign to sanitize Ghana’s gold sector, safeguard state revenue, and deter organized crime groups that exploit the country’s mineral wealth.
Restoring Integrity To Ghana’s Gold Trade
The GoldBod CEO reiterated the Board’s zero-tolerance stance against illegal gold trading and smuggling.
“We will not hesitate to apply the full rigours of the law, no matter how big or influential the players may be. This is about protecting our national resources and restoring integrity to the gold industry,” Gyamfi declared.
