- Rafmoh Gold Ltd. and founder Rafeeq Muhammed Nandoli deny links to alleged smuggling syndicate.
- Ghana Gold Board named the company in ongoing investigations announced September 16, 2025.
- Rafmoh says it ceased operations after the Ghana Gold Board Act, 2025 (Act 1140) introduced nationality restrictions.
- Company rejects claims of buying from NK Bernark Enterprise or ties to 9.2kg gold seizure.
- Related firm Rafmoh Jewelry Ltd. shut down on September 2 over alleged smuggling links.
- Rafmoh highlights membership in Africa Responsible Mineral Sourcing Initiative (ARMSI).
- Company pledges cooperation but plans legal action to clear its name.
Rafmoh Gold Ltd. and its founder, Rafeeq Muhammed Nandoli, have strongly denied any involvement in an alleged gold smuggling syndicate currently under investigation by the Ghana Gold Board.
The Gold Board, in a press briefing on September 16 in Accra, announced that it had launched enforcement measures and investigations into illegal gold exports. Among the companies named was Rafmoh Gold, sparking swift rebuttals from the firm and its founder.
According to the company, it operated under proper state licences until April 2025, when the Ghana Gold Board Act, 2025 (Act 1140), introduced new nationality restrictions that rendered both Rafmoh Gold and Mr. Nandoli ineligible for fresh licensing. The firm says it subsequently wound down its gold purchasing and export operations in compliance with the law.
The company has rejected allegations that it bought gold from NK Bernark Enterprise at Tarkwa or that it was linked to a 9.2-kilogram gold seizure recently reported by the Board. Rafmoh Gold insists it has not authorised anyone to act on its behalf since ceasing operations.
The controversy has also reached Rafmoh Jewelry Ltd., a related retail jewellery outfit, which was forced to suspend activities after being targeted by the Gold Board on September 2. Rafmoh described the action as unjustified and harmful to its reputation.
Despite the accusations, the company pointed to its affiliation with the Africa Responsible Mineral Sourcing Initiative (ARMSI), stressing its adherence to ethical sourcing and traceability in the mineral trade. Rafmoh Gold has indicated that it will fully cooperate with investigators but intends to explore legal channels to protect its name and business interests.
