Ghana investigates fake currency and gold bars seizure amid suspected foreign links

Ghanaian authorities are investigating the interception of containers allegedly filled with counterfeit currency and gold bars, with initial suspicions pointing to possible foreign involvement, according to Minister of State for Government Communication, Felix Kwakye Ofosu.

The operation, led by National Security on Sunday, February 9, resulted in multiple arrests, while some suspects remain at large. 

Speaking on The Point of View on Channel One TV on Monday, February 10, Mr. Kwakye Ofosu confirmed that investigations were ongoing.

“There is suspicion that some foreign elements are involved, but at this stage, it remains only a suspicion,” he said, stressing that the government was taking a cautious approach.

He urged Ghanaians to remain vigilant, citing the volatile nature of the subregion and the potential international implications of the case. He assured the public that further details would be disclosed as investigations progressed.

The minister also addressed concerns over appointments within Ghana’s energy sector, particularly at the Volta River Authority (VRA) and the Bui Power Authority. 

He stressed that selections were being made based on expertise and experience rather than political influence.

“The president is committed to appointing the best technical hands to ensure these strategic organizations continue to perform optimally,” he said.

While acknowledging that lobbying occurs in such processes, he insisted that President John Mahama remained resolute in appointing only qualified candidates. He also attributed delays in some appointments to the rigorous vetting process, which involves recommendations from sector advisors, including the Minister of Energy.

Ghana is set to establish a Gold Board as a central regulatory body to oversee the activities of small-scale miners and streamline the country’s gold trade. Modeled after the Ghana Cocoa Board, the initiative aims to improve accountability and curb financial losses from illegal gold exports.

“There are billions of dollars lost annually due to unaccounted gold exports,” Mr. Kwakye Ofosu stated. “The Gold Board will tighten regulations and streamline operations to maximize revenue for national development.”

Addressing wider governance concerns, the minister acknowledged inefficiencies in state institutions, adding that structural reforms require long-term solutions.

“The challenges in the energy sector and other areas will not be solved overnight. It requires patience, detailed study, and bold decisions,” he noted.