President John Dramani Mahama has announced a bold incentive to combat illegal gold trading in Ghana, revealing that whistleblowers will receive 10% of any gold or cash seized through their information.
Speaking at the inauguration of the Ghana Gold Board (GoldBod) Task Force in Accra on July 8, 2025, President Mahama emphasised that the initiative seeks to protect Ghana’s gold resources from smuggling, price manipulation, and illicit trade.
“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,” he declared.
The President issued a stern caution to Task Force members against abusing their authority,
“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 reiterated that the government will enforce existing laws strictly, warning all illegal gold traders and smugglers to regularize their operations.
“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.”
Licensing and Punitive Measures
President Mahama urged prospective traders to apply for licences through the GoldBod, citing that under the Gold Board Act, unlicensed trading and foreign purchases on the local market are banned.
“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 stressed.
Analysts say this whistleblower incentive could strengthen gold revenue streams, curb smuggling losses, and bolster forex reserves amid Ghana’s drive to optimise mineral sector earnings. However, effective implementation, transparency, and enforcement will be key to its success.
