The Chamber of Bullion Traders Ghana (CBTG), a representative body of Licensed Gold Exporters(LGE) and Small Scale Gold Miners has condemned the gold smuggling syndicate who were busted last weekend at the Aflao border.

National Security’s ITF Unit acting upon a tip-off last Friday arrested four Malians who were trying to cross the borders of Ghana into Togo with undocumented gold weighing over 15 kilograms worth about five million Ghana Cedis.

This cartel is believed to be working together with some Ghanaian collaborators for and on behalf of some Indians who finance them in that regard.

Speaking exclusively with the Chief Executive Officer(CEO) of the CBTG Mr. Daniel Krampah to elicit his views on the particular case of the arrested Malian smugglers vis-à-vis the Chamber’s efforts to curtail such activities, he stated that the case of gold smuggling has been a bad phenomenon with us over the years and a serious threat to the industry as well as government in terms of tax revenue.

The CEO emphasized that smuggling of gold cannot continue to be business as usual because it’s a very serious drain and strain on government’s tax revenue where several millions of dollars are lost year in year out through smuggling.

He said, “we have had to put the Chamber in place to help mitigate some of these issues through regular monitoring and supervision to ensure that the right things are done”.

“We know there will still be some few recalcitrant ones here and there but we as the Chamber are trying ever so hard to ensure that we rope-in each and every gold dealer for a clean and regular gold trade,” he stressed.

Mr Krampah noted saying; “It’s quite unfortunate that the reportage on the arrest also alleged that the syndicate also have support and protection from some top security agents who have been aiding them at the expense of what the government should rather earn”.

“We are however hopeful that those arrested will be dealt with accordingly to serve as deterrent”, the CEO opined.