PMMC Denies Gold Bars Smuggling Allegation

The Precious Minerals Marketing Company (PMMC) has denied allegations by some National Democratic Congress (NDC) players that some Bullion Bars were intercepted while being smuggled out of Ghana.

It was reported, following a viral circulation of the video of an incident at the National Assay Centre located at the Aviance Cargo Terminal on December 17 that government officials were behind the smuggling.

However, the PMMC has denied the allegations saying it is false.

In a press statement, the Company said a mob led by Joseph Yammin, the National Organiser of the NDC forcibly attempted to seize bullion bars being processed by PMMC for the Central Bank of Ghana.

The confrontation, it said, started at 4 pm and lasted till about 12 midnight.

Contrary to the allegations, it explained that the bullion bars belong to the Bank of Ghana as part of the ongoing Domestic Gold Purchase Programme (DGPP) which was launched as far back as June 2021.

It continued, “The bullion bars were being assayed to confirm their weights, purity and consequently value. It was during this assay that the process was disrupted by a mob led by Mr. Yammin with the allegation that the said bullion bars were being smuggled secretly out of Ghana by certain political actors, which allegation is false.”

The statement noted that it took the intervention of the Police after several hours of stand-off before it was agreed that the bullion bars be moved to the Greater Accra Regional Police Command for safekeeping until this morning.

It noted, “A private exporter, who is duly licenced to carry out exports, was also affected by this unfortunate incident. The gold which was being processed for export by the private licensed exporter was also added to the bullion belonging to the Bank of Ghana.”

Condemning the action of the people as unlawful, the PMMC said it has the potential to cause significant harm to the country’s reputation on the international bullion market.

“Such disruptions not only undermine the confidence of legitimate international gold buyers but also threaten the country’s standing as a trusted player in the global gold trade. Furthermore, these acts place the Ghanaian men and women who are lawfully discharging their duties at significant risk.

“The dedicated staff, who are committed to ensuring compliance with Ghana’s strict regulatory standards, should not have to face threats or intimidation while performing their legitimate responsibilities.”

Source: opemsuo.com/Hajara Fuseini