Sankofaonline News Desk
Sankofaonline has learned of a tense confrontation at the Ghana Gold Board (GoldBod) that reportedly led to the detention of Dr. Maxwell Nana Yaw Boakye, Western Regional Council of State representative and CEO of Max Palasco Group. The incident, said to be ordered by GoldBod CEO Sammy Gyamfi, stems from a gold aggregation deal gone awry.
Sources allege Dr. Boakye received a substantial cash advance for gold procurement but underreported the quantity delivered. While the exact figure remains undisclosed, insiders suggest the shortfall involves a significant sum.
Dr. Boakye, also known as Nana Yaw Palasco Boakye, was reportedly held at GoldBod’s Accra offices amid suspicions of diverting gold and exporting it in breach of regulatory protocols. Council of State members and other influential figures are said to have spent hours lobbying for his release.
This development follows GoldBod’s February 10, 2026 compliance notice, which listed six companies,including Max-Palasco Limited,for operational review under Section 43 of the Ghana Gold Board Act, 2025 (Act 1140). The other firms named were S-Seven Hills Enterprise, Passion Gold Limited, IBF Mineral Resource Limited, Maabisco Multipurpose Enterprise, and Gastonesin Enterprise.
Company directors were instructed to appear before GoldBod’s Compliance Directorate on February 12 at 10 a.m. and warned not to miss the session. The Directorate described the move as a routine check to ensure adherence to financial and operational standards.
GoldBod reiterated its commitment to enforcing gold sector regulations with transparency and accountability. As of press time, it remains unclear whether Dr. Boakye has been formally charged or released.
