Ghana is actively devising a series of strategies to combat the illicit smuggling of gold, all in a bid to safeguard its precious gold-for-oil policy.
Energy Minister, Matthew Opoku Prempeh, has unveiled a groundbreaking plan that could see whistleblowers rewarded with actual gold for exposing smugglers.
The primary aim of this initiative is to exercise strict control over the unauthorized export of gold from the nation, ensuring that the Bank of Ghana maintains a steady and adequate reserve of gold to facilitate cost-effective fuel procurement.
Dr. Prempeh passionately articulated his conviction that involving Ghanaian citizens as vigilant informants in the fight against gold smuggling would significantly enhance the sustainability of the program. To incentivize their participation, he has proposed a substantial reward system.
Under this scheme, individuals who provide critical information leading to the arrest of gold smugglers would be entitled to receive a generous 20% share of the seized gold. While this proposal is currently in the phase of careful consideration, it holds the promise of becoming formal policy in the near future.
Addressing the issue, Dr. Prempeh stated, “We’re saying anybody who gives a tipoff or informs us, and this information leads to the identification and arrest of a gold smuggler, that person will receive a 20% share of the confiscated gold. I believe that soon, people will come forward because currently, nobody makes 20% of this entire gold trade – not even the individual purchasing the gold.”
He further emphasized the significance of this initiative, stating, “So, if Ghanaians who may inadvertently assist smugglers in their activities can now benefit from a 20% reward, it will undoubtedly serve as a powerful deterrent against smuggling.”
The Minister also noted a concerning trend in the increasing export of gold through illegal means, and he hinted at the likelihood of formally announcing this innovative policy in the near future.
These remarks were made during a gathering at the Rotary Club of Accra Ring Road Central on Tuesday, August 22, 2023.
Ghana’s determination to protect its valuable gold reserves while involving its citizens in the fight against smuggling showcases a unique and proactive approach that could set a precedent for other nations facing similar challenges.
Source:
EVANS EFFAH