PMMC Van Intercepted With Gold Bars at KIA
In a surprising incident, a van belonging to the Precious Minerals Marketing Company (PMMC) was intercepted by the Accra Regional Police at Kotoka International Airport. The van, reportedly en route to Dubai, contained 17 boxes of gold bars allegedly linked to Ghana’s Gold-for-Oil (G4O) initiative.
Launched in December 2022, the G4O initiative aimed to stabilize Ghana’s cedi by using gold reserves to secure oil imports, reducing reliance on foreign currencies. The program was declared successful and phased out in November 2023 by Bank of Ghana Governor Dr. Ernest Addison. However, updates as recent as August 2024 suggested its continuation with capped central bank funding.
A group of citizens in collaboration with the Ghana Police Service intercepted at least 17 boxes of gold reportedly being flown out of the country last night
— TIG Post (@tigpost_) December 18, 2024
🎥: @Gharticles#TigPost
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This lack of clarity has sparked concerns about the destination and purpose of the seized gold bars. Critics are questioning the transparency of the program and whether its objectives are being fully disclosed.
As investigations unfold, the interception highlights the need for greater accountability in managing Ghana’s resources under initiatives like G4O. The public eagerly awaits further details on this unfolding situation.
