The challenges of the twenty-first century are enormous. Ensuring adequate food supply, energy, secure livelihoods, water among a host of essential needs of mankind have remained a daunting challenge of many governments across the world. Land is emerging as the point of attraction to solving the many problems emanating from the increasing population. The scramble for land by both the poor and the rich at the household, local and national levels has in recent times become a topical issue in both local and international political discourses. Ghana has not been insulated from this new paradigm of land scramble and thus far has had its fair share. It is ranked fourth among the top ten countries in the world targeted for mixed deals (agro fuels and other purposes) with 421, 808 ha of agricultural land already under acquisition contract. This paper takes a historical view of large land trade in Ghana from the period of colonial times to the current democratic dispensation. Using secondary data, the study found that the recent large land acquisition is not a new phenomenon in Ghana. It occurred in Ghana during the colonial era. The customary land owners have been the key suppliers of land in this land enterprise during both the colonial era and the period after the independence. There is a greater recognition of customary claims to land by the state through constitutional and policy enactments. This recognition however falls short of regulating the customary authorities in their land dispositions especially rural land which are of much interest to the investors. It has thus created a lacuna in the land control arrangement by the state which has left the customary authorities to engage large land alienations without adequate controls. It is recommended that, efforts be made by government to provide enough structures at the local level to supervise and control land alienations by the customary authorities.