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India Turning a Blind Eye to Smuggled Gold
Published
6 years agoon
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Mega IconNew report reveals India to be one of the largest gold smuggling hubs in the world.
As a result, gold that is tied to conflict, human rights abuses, and corruption in Africa and South America is entering legal international markets through India.
In its latest report, A Golden Web: How India Became One of the World’s Largest Gold Smuggling Hubs, IMPACT uncovers how India imports approximately 1,000 tons of gold per year—a quarter more than official figures indicate. Some enters as legal imports thanks to falsified paperwork.
“Actors across India’s gold industry are failing to do proper checks on where gold comes from to ensure it’s not financing conflict and human rights violations,” according to Joanne Lebert, IMPACT’s Executive Director. “With its role as a leading global gold manufacturing centre, India must take action to address the weaknesses in its gold supply chain.”
IMPACT’s research reveals that one third of the world’s gold passes through India, the heart of the world’s gold manufacturing sector. With its gold jewellery exports on the rise, India has become one of the world’s leading trading hubs—with illicit gold entering country, being transformed into goods, and leaving for international markets, including North America.
The report identifies three primary factors which allow a problem of this magnitude:
Tax breaks: To boost India’s refinery sector, the government introduced tax breaks in 2013 for gold doré –also known as unrefined gold. This has led to traders covering up questionable provenance claims by falsifying documentation of gold doré to take advantage of lower taxes. Gold doré imports shot from 23 tons in 2012 to over 229 tons in 2015 as a result of these tax breaks.
Falsified origin documents: Gold doré imports have spiked, with the majority coming from producing countries that lack strong internal controls or are linked to supply chains with weak evidence of due diligence. Analysis of trade data reveals more declared gold imports to India than some countries are capable of producing, such as in the Dominican Republic and Tanzania, as well as instances of paperwork fraud like in Ghana. In the case of the Dominican Republic, as much as 100.63 tons of gold doré imported to India between 2014 and 2017 cannot be accounted for in the country’s gold production.
Complicit allies: Refined gold is being smuggled into India primarily from the United Arab Emirates, while key traders and refiners in Africa’s Great Lakes region with links to India have been identified as being part of the illicit gold trade.
To tackle the problem, IMPACT calls on India to take immediate steps to:
- Harmonize its taxes, including between doré and refined gold to discourage smuggling; and
- Enhance regulatory controls at the border to require additional, valid information for all imports of all artisanal gold.
“India is at the heart of a web of the illicit trade of gold, with threads spanning the globe and almost certainly financing conflict and corruption. Authorities must take action to remove incentives for gold smuggling and ensure the gold industry implements due diligence. Anyone buying India’s gold jewellery should be asking questions about where that gold comes from to have confidence in their supply chain,” adds Lebert.
IMPACT also calls on actors across India’s gold industry to implement due diligence on their gold supply chains. Gold traders, refiners, and jewellers have a responsibility to understand, mitigate, and publically report on any risks in their supply chain—all the way back to the mine site.
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Politics
APC Secretariat Violence: Oyo Lawmaker Denies Assault, Alleges Smear Campaign
Published
1 day agoon
April 21, 2026By
Mega IconThe lawmaker representing Akinyele/Lagelu Federal Constituency of Oyo State, Olafisoye Akinmoyede, has denied allegations of violence at the All Progressives Congress (APC) state secretariat, describing claims that he assaulted a party member as false and politically motivated.
An online platform, IMPARTNEWSNETWORK, had alleged that Akinmoyede assaulted one Gafar Oyebade during a meeting convened by the state chairman of the party, Alake Adeyemo, to resolve issues surrounding the executive list of the APC in Lagelu Local Government Area.
However, Akinmoyede, in a statement on Tuesday, said the meeting was peaceful and attended by key members of the state executive, including the chairman, deputy chairman, and secretary, who witnessed the proceedings.
He clarified that contrary to Oyebade’s claim of being the party secretary, the official list presented by the state leadership recognised him as the Public Relations Officer.
According to the lawmaker, following the clarification, the state executive directed the Lagelu Local Government chairman, Fatai Awoyoola, to proceed with the swearing-in of other party officials.
Akinmoyede also faulted attempts to link the incident with the 2019 killing of a former federal lawmaker, noting that a court of competent jurisdiction had already ruled on the matter.
He said, “In Suit No. I/70c/2019, delivered by Justice Mufutau Adegbola on January 23, 2020, all those accused were discharged and acquitted.”
The lawmaker expressed concern over what he described as a deliberate attempt to mislead the public, alleging that Oyebade, a public school teacher under the Oyo State Government, should not be involved in partisan politics.
He described the allegation as a “recycled script” aimed at tarnishing his image ahead of political activities, urging constituents to remain calm.
Akinmoyede also called on journalists to verify information before publication and urged security agencies to take action against individuals who file false reports.
“These tactics surface every election cycle. Those behind them should learn to accept the outcomes of political processes. They failed before and will fail again. Power comes from God,” he added.
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Oyo Reps Member Denies Assault, Dares APC Chieftain to Prove ‘Hospitalisation’ Claim
Published
2 days agoon
April 20, 2026By
Mega IconThe lawmaker representing Akinyele/Lagelu Federal Constituency in the House of Representatives, Hon. Olafisoye Akinmoyede, has denied allegations of assault levelled against him by a member of the All Progressives Congress (APC) in Lagelu Local Government Area, Mr. Gafar Oyebade.
Akinmoyede described the allegation as “false” and “a lie taken too far,” insisting that no physical altercation occurred.
The denial was contained in a statement issued on Monday by his Legislative Aide, Dr. Isiaq Akintunde.
Oyebade had alleged that he was hospitalised following a confrontation during a meeting held at the office of the state party chairman in Oke-Ado, Ibadan, convened to resolve a leadership dispute in the local government.
But the federal lawmaker maintained that the meeting was peaceful and attended by top party officials.
“The meeting was convened to clarify Mr. Oyebade’s position within the local executive, and it was attended by the State Party Chairman, his deputy, the secretary, the publicity secretary, and other key state executives, all of whom witnessed the peaceful proceedings,” the statement read.
He added that contrary to Oyebade’s claim of being the party secretary, the official list presented by the Lagelu Local Government Party Chairman, Hon. Fatai Awoyoola, identified him as the Public Relations Officer.
According to Akinmoyede, the state executive thereafter directed Awoyoola to proceed with the swearing-in of the remaining members of the local government executive.
The lawmaker accused Oyebade of fabricating the allegation to advance political interests.
“I wonder why Mr. Gafar Oyebade, a secondary school teacher, would claim he was assaulted in the presence of the State Executive. This is an attempt to justify money allegedly collected from an aspirant to tarnish my image,” he said.
Akinmoyede further claimed that Oyebade was seen walking freely after the meeting and was not hospitalised as alleged.
He also raised concerns over Oyebade’s involvement in partisan politics, noting that civil servants are restricted from active participation in political activities.
The lawmaker called on security agencies and the media to investigate the incident at the party’s Oke-Ado office to ascertain the veracity of the claims.
Efforts to reach Oyebade for comments were unsuccessful as of the time of filing this report.
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2027: Oseni kicks off Oyo South Senate bid, rallies support for one million Tinubu votes
Published
2 days agoon
April 20, 2026By
Mega IconThe lawmaker representing Ibarapa East/Ido Federal Constituency and Chairman, House Committee on Federal Roads Maintenance Agency, Aderemi Oseni, has declared his intention to contest the Oyo South Senatorial seat in the 2027 general elections.
Oseni made his aspiration known during a high-level meeting with the Ibarapa APC Elders’ and Leaders’ Forum, comprising the G9 and the expanded G64 caucus, held at the party secretariat in Eruwa, Ibarapa East Local Government Area, over the weekend.
The G9 and G64 groups consist of influential stakeholders drawn from Ibarapa East, Ibarapa Central, and Ibarapa North local government areas.
In a statement issued on Monday by his media aide, Idowu Ayodele, and made available to journalists in Ibadan, the lawmaker expressed appreciation to the forum for their support and confidence in his leadership and vision.
He said his ambition to represent Oyo South Senatorial District was anchored on a determination to consolidate and expand his record of performance.
Oseni said, “This aspiration is not built on mere rhetoric, but on the continuity and expansion of a proven track record of quality representation and grassroots-oriented governance.”
While soliciting the support of party leaders, he described his ambition as a divine call to serve the people with renewed dedication.
According to him, “This is not a time for self-glory but a sacred responsibility to intensify efforts towards real development, bring more relief to our people and ensure inclusive governance.”
He pledged not to betray the trust reposed in him by party elders and faithful, stressing that his aspiration is rooted in progressive ideals and a genuine commitment to the development of the district.
Oseni also urged leaders in the zone to mobilise support towards delivering one million votes for President Bola Tinubu in the forthcoming election.
Speaking at the meeting, a leader from Ibarapa East, Chief Michael Morawo, lauded the lawmaker for delivering democratic dividends and strengthening the party structure. He added that Oseni has demonstrated commendable leadership through his performance, noting that his impact in stabilising the party within the constituency is evident.
Similarly, a former council chairman in Ibarapa Central, Chief Theophilus Adenrele, commended the lawmaker for not betraying the trust reposed in him. Also, a chieftain from Ibarapa North, Chief Francis Babalola, described Oseni as a humble leader committed to progressive ideals, dismissing speculations about his possible defection if he does not secure the governorship ticket.
In his remarks, the Chairman of the forum, Chief Timothy Jolaoso, said the lawmaker enjoys widespread grassroots acceptance that cuts across political divides.
Jolaoso said, “All indicators consistently point to Oseni as a candidate with acceptance that transcends party lines. He is not only capable but a man of deep faith with proven empathy for the downtrodden.”
He added, “He possesses the goodwill, financial strength, and public trust required for leadership.”
The elder statesman further noted that Oseni’s performance in the House of Representatives, alongside his role as Chairman of the FERMA Committee, underscores his competence and commitment to development.
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