Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Gold Smuggling : Minerals Commission to punish culprits

Dr AubynnThe Minerals Commission has served notice to deal with any person or companies found culpable in smuggling gold out of Ghana.
According to the Commission, the country stands to lose huge revenue as long as smuggling continues.The Commission’s warning comes after the country lost an average of 1.925 billion dollars from the smuggling of gold to India over the years.

Also recently, the Customs Division of the Ghana Revenue Authority (GRA) impounded 12 boxes which contained gold bullion weighing about 480kg at the Kotoka International Airport valued at US$18 million.

Commenting on the development, the Chief Executive Officer of the Minerals Commission, Dr. Tony Aubynn told Citi Business News, the commission will deal with any person found to have participated in the smuggling of gold outside Ghana.

“The matter is under investigation but it is really terrible to phantom that our gold will be smuggled as it passes through our ports. It would be a major scar on us if we will allow gold of that magnitude to pass through the airport and to go to the plane without any checks. I would wait for the outcome of the investigations currently ongoing and if the investigations turns out that any person or companies were involved in that, then obviously, the law must go heavy on them.” the Minerals Commission boss stressed.

Source : http://business.citifmonline.com/2016/03/15/gold-smuggling-minerals-commission-to-punish-culprits/#sthash.oyHbmApG.dpuf

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar