OSP Detains Goldridge Refinery CEO Dr. Sledge Nana Yaw Duodu Over Alleged $94M Loss in Gold Trade Schemes
Ghana’s Office of the Special Prosecutor (OSP) has detained Dr. Sledge Nana Yaw Duodu, Chief Executive Officer of Goldridge Refinery Ltd, after he failed to meet bail conditions, confirming reports from JoyNews on September 30, 2025.
The arrest stems from an ongoing probe into suspected corruption and related offenses tied to the Minerals Income Investment Fund (MIIF), focusing on mismanagement in the gold trade program.
Duodu, also known as Nana Yaw Duodu, is accused of contributing to over $94 million in state losses through Goldridge’s failure to settle trades under the Gold for Forex and Gold for Oil initiatives.
These programs, launched to leverage gold reserves for currency stabilization and oil imports, have faced scrutiny for transparency issues, with OSP’s half-year report in July 2025 listing Goldridge among entities under investigation alongside Asante Gold Corporation, ElectroChem Ghana Limited, and others for activities between 2020 and 2024.
The detention follows heightened tensions, including a May 2025 public feud between Attorney General Dr. Dominic Ayine and MP Kwame Asare Obeng (A-Plus), who alleged corruption involving Duodu and MIIF’s $119 million repayment limbo. Duodu, a prominent figure in small-scale gold mining with over a decade in the sector, founded Goldridge—a group including a refinery in Accra and tech firms using blockchain for traceability—to reform West Africa’s artisanal mining image.
OSP’s probe is part of 67 active corruption cases, emphasizing accountability in resource sectors. Duodu’s LinkedIn profile highlights his role as Ambassador and Chairman, but no official statement from Goldridge has been issued yet. The case underscores Ghana’s push against graft in gold initiatives amid economic pressures.
