In an unexpected turn of events, the Accra Regional Police detained a van belonging to the Precious Minerals Marketing Company (PMMC) at Kotoka International Airport.

The truck, which was in route to Dubai, was discovered to contain 17 crates of gold bars, purportedly as part of the government's Gold-for-Oil (G4O) policy.

The G4O plan, launched in December 2022, aims to boost Ghana's foreign currency reserves by swapping central bank-purchased gold for oil imports.

The program aimed to stabilize the Ghanaian cedi and reduce rising living costs.

In November 2023, Bank of Ghana Governor Dr. Ernest Addison declared that the G4O initiative had met its objectives and was being phased out.

However, following reports indicated that the program was still in operation as of August 2024, with a capped financial contribution from the central bank.

This lack of transparency has prompted serious suspicions concerning the fate and purpose of the seized gold bars.


source: https://dailyguidenetwork.com/police-seize-gold-bars-at-kotoka-airport/