Claim: Traditional rulers, others could be jailed for owning or wearing gold ornaments 

Source: Social media

Verdict: False

Researched by Gifty Danso

Multiple posts on social media (here, here, and here) have claimed that under the newly enacted Ghana Gold Board (GoldBod) law, traditional rulers and other members of the public could face jail terms and other sanctions for owning or wearing gold. 

Some of these claims found their way to mainstream media, when Accra-based Angel FM, in its March 26, 2025 evening news broadcast, claimed that traditional rulers could be jailed for wearing gold ornaments without authorization from the GoldBod (find here). The radio station has since apologised and retracted the claim. 

However, GhanaFact has observed that initial posts on social media, shared by the Ghana Today platforms (X, Facebook, TikTok) remain live as at the time of compiling this report. 

Some of the narrative Ghana Today posted about included: “GoldBod: Asante Kingdom’s Golden stool risk being seized if Asantehene fails to seek license from Sammy Gyamfi’s GoldBod.

“Gold earrings, necklaces and bracelets owners must seek approval from Sammy Gyamfi’s board to own and wear them to prevent arrest.

“Chiefs who wear Gold ornaments without authorization from Sammy Gyamfi can be jailed for not less than 5 years and not more than 10 years. – Clause 69 of GoldBod Act proposes.”

But is there any provision in the GoldBod law seeking jail terms for owning or wearing gold?

Fact-Check

The acting Managing Director of the Precious Minerals Marketing Corporation (PMMC), Samuel Gyamfi, debunked the claim about criminalizing the holding or storage of gold and other related matters in a three-part series shared on X on March 30, 2025.

“No provision in the Goldbod Bill passed by Parliament and awaiting the assent of the President, criminalizes the mere holding, possession and/or storage of Gold. What constitutes a crime under the Goldbod Bill (Clause 68 (1)) is the HOARDING of gold,” he wrote.

What does the law on hoarding gold say:  

Clause 68(1) of the Goldbod bill provides: “A person shall not, without lawful authority, HOARD gold without a license or authorization issued by the Gold Board”.

Hoard is defined under Clause 74 of the Goldbod Bill as “the accumulation or storage of a gold mining product beyond reasonable business needs, with the purpose of manipulating market conditions or creating artificial scarcity”.

Verdict:

The claim is rated False.

What is the GoldBod?

GoldBod, a manifesto promise of the ruling National Democratic Congress (NDC), was passed by Parliament on March 29, 2025, after Finance Minister Cassiel Ato Forson laid a bill before the House on March 28, 2025. President Mahama on April 2, 2025, signed the bill into law. 

According to the bill, the Ghana Gold Board would replace the PMMC with an expanded mandate. 

This mandate, shall include empowering the GoldBod and its authorised subsidiaries to oversee, monitor, and undertake the buying, selling, assaying, refining, exporting, and other related activities concerning gold. 

“Small-scale miners would be required to sell gold to the Gold Board, while the Gold Board will be required to assay all gold exported from the country. 

“The Gold Board will assume sole responsibility for the export of gold produced by small-scale miners and the unauthorised hoarding of gold will be prohibited under the Bill,” parts of the text establishing the Gold Board reads. 

Additionally, the establishment of the Gold Board will necessitate amendments to key sections of the Minerals and Mining Act 2006 and the Minerals and Mining General Regulations, 2012 (L.I. 2173). 

The GoldBod takes on all assets and liabilities of PMMC and would be led by a Chief Executive Officer (CEO) instead of a Managing Director as was the case with PMMC.

Sanctions under the GoldBod law

In the bill, Clauses 63 to 70 provide for offences, penalties, and administrative penalties. 

Clause 63 specifically deals with general offences such as unlawfully destroying, damaging, or interfering with the equipment, installations, or facilities used for refining, storage, marketing, or sale of gold or gold mining products and providing false information or documentation related to gold mining transactions. The penalties for the offence include a fine, prison sentence, or both. 

With respect to hoarding of gold without a license from the GoldBod, the Clause 68 states that “a person who contravenes the Clause may be liable on a summary conviction of a fine, a term of imprisonment of not less than 5 years and not more than 10 years or both.”

Sammy Gyamfi in in his X post explained the purpose of the hoarding sanction as follows: “The purpose of Clause 68(1) of the Goldbod Bill, is to prevent situations where licensed agents of the Goldbod, given funds by the Goldbod to buy gold for the Goldbod, will hoard gold for the purpose of causing scarcity or create unfair competition or manipulate prices , among others. 

“It is therefore false that the Goldbod Bill criminalizes the possession of gold by a person or Chief,” Sammy Gyamfi said further on X.