Ghana Gold Board (GoldBod) has refuted widely circulated social media reports claiming that a former security officer attached to its Chief Executive Officer absconded with GH¢200 million.
In a statement issued by its Media Relations Unit, the regulator described the viral news card which alleged that the proprietor of Dominic Bonsu Ventures ran away with public funds as entirely false, malicious, and engineered to deceive the public.
“The GoldBod is deeply concerned by the deliberate publication of falsehoods designed to distort an ongoing enforcement action, misinform the public and undermine confidence in its operations. We therefore urge the public to disregard the fabricated claims and rely solely on information issued through the GoldBod’s official communication channels. The GoldBod also calls on media organizations, bloggers and social media users to verify information before publication and to exercise the highest standards of responsible journalism.”
Ghana Gold Board (GoldBod)
Elaborating on the debunked claims, GoldBod clarified two primary points regarding its personnel and financial disbursements.
First, the institution affirmed that Mr. Dominic Bonsu has never served as a bodyguard or personal security officer to GoldBod CEO, Mr. Sammy Gyamfi. Second, GoldBod explicitly denied advancing or losing GH¢200 million—or any other sum to Mr. Bonsu or his entity, Dominic Bonsu Ventures.
Regulatory Enforcement Action and Ongoing Legal Proceedings
Instead of a financial heist or an internal security breach, the actual facts surrounding the entity stem from statutory enforcement within Ghana’s gold trading sector.
The state agency revealed that the license of Dominic Bonsu Ventures was suspended following suspected violations of its operational terms and the GoldBod Trading Directives. This action was taken pursuant to powers vested in the authority under the Ghana Gold Board Act, 2025 (Act 1140).
Rather than fleeing the jurisdiction with state assets, Mr. Dominic Bonsu was apprehended following formal investigations and regulatory action.
He was subsequently remanded into lawful custody by the High Court in Accra, where he remains subject to active judicial proceedings. GoldBod emphasized that the viral social media post was a calculated attempt to “distort an ongoing enforcement action” and mislead market participants.
The Critical Need for Truth in Extractive Industry Reporting
Unverified claims involving massive sums like GH¢200 million pose a grave danger to the reputation and stability of the mining and minerals sector.
In the gold trading landscape, where international confidence, investor sentiment, and strict compliance determine market health, viral fabrications can distort real-time regulatory oversight and undermine public trust in national oversight bodies.
Misrepresenting a routine administrative sanction and criminal prosecution as an insider theft creates unnecessary panic among local traders, export partners, and institutional investors.
As primary intermediaries between regulatory authorities and the public, journalists and mineral bloggers bear a heavy responsibility to exercise strict due diligence.
Publishing unchecked social media graphics without consulting primary documents such as court registries or official regulatory notices threatens the integrity of the entire extractive reporting ecosystem.
Unfounded rumors not only obscure legitimate regulatory efforts under Act 1140 but also weaponize public sentiment against state institutions during delicate legal processes.
Restoring Public Trust and Legal Integrity
Addressing the broader implications of unverified digital reporting, GoldBod reaffirmed its unwavering dedication to maintaining lawful practices within the gold trading market.
The authority stressed that public confidence in state agencies relies on factual accuracy and responsible journalism, warning that sensationalism risks eroding trust in statutory institutions.
To safeguard the market against future distortion, GoldBod reiterated its commitment to transparent, equitable regulation.
The board noted that it “remains committed to enforcing the laws governing Ghana’s gold trading sector fairly, professionally and without fear or favour,” ensuring that statutory mandates are upheld while judicial processes against license violators take their proper course.
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