Accra, Ghana – The Precious Minerals Marketing Company (PMMC) has accused Joseph Yamin, the National Organiser of the National Democratic Congress (NDC), and his associates of attempting to forcibly seize bullion bars from their head office. The incident, which occurred on December 17, 2024, involved a mob led by Yamin, resulting in a tense standoff that required police intervention.

Details of the Incident

The bullion bars in question are part of the Bank of Ghana’s Domestic Gold Purchase Programme (DGPP), an initiative aimed at strengthening Ghana’s gold reserves and bolstering the economy. PMMC revealed that the interference disrupted lawful operations and created unnecessary tension. A private exporter, who was processing gold for export at the time, was also affected by the disruption.

According to eyewitnesses, Yamin and his associates arrived at the PMMC head office in the afternoon, demanding access to the bullion bars. Their attempt was met with resistance from PMMC staff, leading to a heated confrontation. The situation quickly escalated, drawing the attention of law enforcement.

PMMC’s Response

In a press statement, PMMC condemned the incident as an unlawful action that could damage Ghana’s international reputation in the bullion market. The company emphasized that such disruptions undermine the confidence of international gold buyers and pose a risk to Ghana’s standing as a trusted player in the global gold trade. PMMC urged all stakeholders to act responsibly to protect the country’s economic interests and international credibility.

PMMC Managing Director Nana Akwasi Awuah stated, “This act of aggression not only disrupts our operations but also threatens the integrity of Ghana’s gold market. We call on the authorities to thoroughly investigate this matter and ensure that justice is served.”

Police Intervention and Resolution

The standoff lasted several hours, during which the police were called to intervene. After negotiations, it was agreed that the bullion bars be transferred to the Greater Accra Regional Police Command for safekeeping while efforts were made to resolve the issue. The police presence helped to de-escalate the situation, and no injuries were reported.

Legal and Political Implications

The involvement of a prominent political figure like Joseph Yamin has added a layer of complexity to the incident. Legal experts suggest that the case could have significant implications for both Yamin and the NDC. If found guilty of any wrongdoing, Yamin could face legal repercussions that might affect his political career.

Political analysts have also weighed in on the potential impact of the incident on the NDC’s image. The party, which has a substantial following, might face scrutiny from both supporters and critics, depending on the outcome of the investigation. The incident has sparked debates about the intersection of politics and business in Ghana and the need for clear boundaries to maintain the integrity of both sectors.

Impact on Ghana’s Gold Industry

PMMC highlighted the potential reputational damage caused by such incidents, warning that they could jeopardize Ghana’s standing in the international bullion market. The company stressed the importance of transparency, accountability, and regulatory compliance in Ghana’s gold trade. International investors and stakeholders are likely to watch the developments closely, and any loss of confidence could have long-term economic implications.

The incident involving Joseph Yamin and others has raised concerns about the integrity of Ghana’s bullion market and the need for responsible actions to safeguard the country’s economic interests. PMMC’s commitment to ensuring transparency and accountability remains unwavering, as the company continues to navigate the challenges posed by such disruptions. As the investigation progresses, stakeholders hope for a swift and fair resolution that will restore confidence in Ghana’s gold industry.