Ghanaians Shócked As Ato Forson Exposes How $12 Billion In Gold Was Smuggled Out Under Ex Govt

Finance Minister Dr Cassiel Ato Forson has disclosed that illegal gold smuggling has cost Ghana more than $12 billion in revenue over the past ten years.

Speaking at the inauguration of the GoldBod Task Force in Accra, the minister warned that the illegal trade poses a major challenge to the country’s economic stability and development.

He revealed that an estimated 600 tonnes of gold had been unlawfully exported from Ghana over the period, resulting in losses exceeding $12 billion.

Dr Forson explained that the practice has deprived the country of valuable foreign exchange and government revenue that could have been invested in critical development projects.

He also highlighted the scale of the problem in 2022, revealing that Ghana lost approximately $1.2 billion through gold smuggling during a period of serious economic difficulties. According to him, the amount was nearly equal to the financial support the country was seeking from the IMF.

The minister argued that the money lost through illegal gold exports could have helped address several infrastructure challenges across the country. He identified education, healthcare, road construction and access to clean water as areas that could have benefited from the additional revenue.

Dr Forson called for intensified efforts to identify and punish individuals involved in the illegal gold trade. He also pledged the government’s full support for the GoldBod Task Force in its efforts to prevent unauthorised exports and protect Ghana’s mineral resources.

He maintained that the country’s gold wealth should serve the interests of Ghanaians and contribute to national economic growth rather than enrich those engaged in criminal activities.

Meanwhile, the announcement has strengthened calls for authorities to investigate illegal gold trading, recover lost revenue and prosecute individuals found responsible.

The GoldBod Task Force is expected to lead the government’s campaign against gold smuggling while promoting better management of the country’s mineral resources and improving economic self-reliance.

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