GoldBod suspends licenses of Dominic Bonsu Ventures, McWoode Ray 24

GoldBod has suspended the gold trading licenses of Dominic Bonsu Ventures and McWoode Ray 24 Enterprise with immediate effect over alleged breaches of the country's gold trading regulations. The suspension means the two companies are prohibited from engaging in any gold trading activities while investigations into the alleged violations continue. In a notice issued by its Compliance Directorate, GoldBod said the action followed findings that the companies had breached the terms and conditions of their licenses, the Board's trading directives and provisions of the Ghana Gold Board Act, 2025 (Act 1140).

The Board also disclosed that it is pursuing the proprietor of Dominic Bonsu Ventures as part of ongoing enforcement proceedings, while the director of McWoode Ray 24 Enterprise has been arrested and remanded into police custody. According to GoldBod, the High Court in Accra, following an application filed by the Board, has issued a bench warrant for the arrest of the proprietor of Dominic Bonsu Ventures to support enforcement actions and related criminal proceedings. Dominic Bonsu Ventures has been ordered to immediately stop all activities involving the purchase, sale, aggregation, transportation and other transactions related to gold. GoldBod has also directed all licensed gold buyers, aggregators, self-financing aggregators and miners to suspend all commercial dealings with the two companies until further notice.