The Ghanaian government is taking proactive measures to tackle gold smuggling and maintain the gold-for-oil policy. To strengthen these efforts, Energy Minister Matthew Opoku Prempeh has suggested a unique approach of rewarding whistleblowers with gold. Apexnewsgh.com reports
The primary goal of these measures is to regulate the outflow of gold from Ghana, guaranteeing that the Bank of Ghana possesses an ample supply of gold for exchange. This enables the country to obtain cost-effective fuel through the gold-for-oil policy.
By incentivizing Ghanaians to expose gold smugglers, Dr. Prempeh believes that the program’s sustainability and effectiveness will be greatly enhanced. Making citizens watchdogs against gold smuggling is expected to strengthen the country’s ability to control the illicit trade and ensure the smooth operation of the gold-for-oil policy.
These measures demonstrate the government’s commitment to preserving the integrity of the gold-for-oil program and protecting Ghana’s natural resources. By actively combating gold smuggling, Ghana aims to safeguard its economic interests and maintain a strong position in the global gold market.
The proposed policy is to offer a 20% gold reward to individuals whose tips provide information leading to arrests. This proposal is currently being considered for formal policy adoption.
“We’re saying anybody who gives a tipoff or tells us and identifies anybody smuggling gold and leads to an arrest, that person will get 20% of the gold. And I’m sure very soon they’ll come up’, he said, adding: “Because I believe that nobody makes 20% of this whole business, the person who is coming to buy the gold doesn’t make 20%”.
“So, if Ghanaians who are aiding them to smuggle the gold now can benefit from 20%, [it’ll curb the smuggling],” he said.
“The level that is being exported to lobby is gradually tipping, so, we might come up formally and announce that policy,” he said at the Rotary Club of Accra Ring Road Central on Tuesday, 22 August 2023. Dr. Prempeh said
Source: Apexnewsgh.com/Ghana
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