GoldBod suspends Evanex Gold Enterprise over illegal pricing

The Ghana Gold Board (GoldBod) has announced the immediate suspension of the licence of Evanex Gold Enterprise, a licensed Tier 2 gold buyer.

According to the regulator, the decision follows adverse investigative findings against the company for engaging in illegal gold pricing, in breach of the terms and conditions of its licence.

In a press statement issued on Thursday, August 28, GoldBod directed all licensed traders, miners, and members of the general public to desist from conducting or engaging in any form of gold transaction with Evanex Gold Enterprise.

The suspension forms part of GoldBod’s ongoing efforts to sanitise the gold trading sector, enforce regulatory compliance, and uphold industry standards.

“Notice is hereby given to all licensed traders, miners and the general public to desist from trading and/or engaging in any form of gold transaction with Evanex Gold Enterprise forthwith,” the statement read.

The regulator stressed that the findings against the company were serious enough to warrant an immediate suspension, warning that similar breaches by other operators would attract appropriate sanctions.

GoldBod reaffirmed its commitment to promoting accountability and transparency in the management of Ghana’s gold sector.

It assured stakeholders that it would continue to enforce the relevant laws and regulations to ensure a fair, credible, and well-regulated gold trading environment across the country.