The Bank of Ghana has suspended the foreign exchange trading licence of United Bank for Africa (UBA) Ghana for one month, effective September 18, 2025. In a statement issued on Thursday, the central bank said the decision was taken in line with section 11(2) of the Foreign Exchange Act, 2006 (Act 723), following what it […]
The Bank of Ghana (BoG) has announced the suspension of the remittance partnership of three Payment Service Providers for one-month, effective September 18. The institutions are Flutterwave, Celulant Ghana and Halges Financial Technologies The central bank, in the notice, stated that the action was due to breaches of its updated guidelines for inward remittance services […]
“People are carrying more than a million dollars out of Ghana without declaring it,” Bank of Ghana Governor Dr Johnson Asiama has revealed. Speaking on Joy News’ yet-to-be-aired PM Express Business Edition, he described such practices as major leakages that threaten the stability of the economy and undermine efforts to fight money laundering. “If you […]
Bank of Ghana Governor, Dr. Johnson Asiama, has revealed that COCOBOD is expecting over $4 billion in inflows before the end of this year. He explained that the funds are part of a new financing arrangement introduced by COCOBOD to support cocoa purchases for the new crop season. Speaking in an exclusive interview with Joy […]
The Bank of Ghana (BoG) has directed mining firms to channel their foreign exchange inflows through commercial banks, rather than directly to the central bank. The directive, communicated to the mining companies this week, is part of measures to boost interbank forex trading and improve liquidity. BoG Governor, Dr. Johnson Asiama, confirmed the move in […]
Wilful loan defaulters could soon face a five-year ban from accessing credit from any regulated financial institution in Ghana. The new Bank of Ghana (BoG) directive also requires commercial banks and other regulated lenders to publish the names of such defaulters twice a year, on June 30 and December 31, in at least two national […]
The First Deputy Governor of the Bank of Ghana (BoG) has revealed that the Domestic Gold Purchase Programme has helped BoG to increase its gold reserves by 100% within the past five months since June 2021. Dr. Zakari Mumuni noted that the sharp increase came at a time when the Bank of Ghana’s reserves stood […]
The Bank of Ghana (BoG) has announced stricter measures against Banks, Dedicated Electronic Money Issuers (DEMIs), Enhanced Payment Service Providers (EPSPs), and Money Transfer Operators (MTOs). This comes as part of the ongoing fight against non-compliance with inward remittance guidelines. In a notice signed by Sandra Thompson, Secretary at the central bank, the bank observed […]
Former Finance Minister Dr. Mohammed Amin Adam has accused the Bank of Ghana (BoG) of printing money to pre-finance the newly established Ghana Gold Board (GoldBod). According to Dr. Amin Adam, this occurred because the government failed to raise sufficient revenue to honour budgeted allocations. Under the 2025 budget, the government allocated US$279 million to […]
The Bank of Ghana (BoG) has issued a new directive to all players in the shipping industry, mandating the adoption of transparent and market-reflective exchange rates in their pricing models. The new guidelines, which take effect from Monday, July 22, 2025, are aimed at promoting consistency and regulatory compliance in foreign exchange practices within the […]
Ghana’s Treasury recorded an oversubscription in its primary Treasury bill auction last week, as investor demand surged by 97.82 per cent above the government’s target for the first time in two months. According to the latest data from the Bank of Ghana, the auction attracted total bids worth GH¢20.98 billion. Of this amount, the Treasury […]
The Bank of Ghana (BoG) is to enforce legal tender laws rigorously, particularly in sectors where foreign currency pricing has become the norm, as part of measures to stop dollar pricing in the country. “The ongoing rollout of the e-Cedi, our digital currency, will be seamlessly integrated with retail payment systems to guarantee that even […]
