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 […]
The Bank of Ghana (BoG) has placed all recently recalled staff, whose appointments were earlier terminated, on an extended probation, sources have told JoyBusiness. Sources say the recall decision marks a significant shift from the Central Bank’s earlier plan to reinstate only a few based on operational needs and skill requirements. Instead, all affected persons […]
Legal practitioner and governance analyst, Martin Kpebu, has commended the Bank of Ghana (BoG) for reinstating nearly a hundred employees who were dismissed last week, describing the move as a commendable act of leadership and responsiveness to public sentiment. Speaking on Joy FM’s Super Morning Show on Friday, Mr Kpebu praised the Governor of the central bank, Dr […]
The Governor of the Bank of Ghana (BoG) Dr. Johnson Asiama has assured that the country has built the needed buffers to withstand external threats to the economy, particularly from the Iran Israel war in the Middle East. According to Dr. Asiama, “Ghana’s foreign reserve position, inflation trajectory, and fiscal adjustment efforts provide a solid […]
The Bank of Ghana (BoG) has cautioned the public against engaging with two digital financial service providers — YellowPay and HanyPay — for operating without the necessary licenses and regulatory approvals in Ghana. In a public notice dated June 10, 2025, the central bank flagged YellowPay, a product of Yellow Card Financial Inc., for promoting itself […]
The First Deputy Governor of the Bank of Ghana (BoG), Dr. Zakari Mumuni, says the recent rally of the cedi is not due to artificial support by the central bank, but rather a result of strong, non-debt-creating reserves. He said the central bank has found a strategic way of meeting market demand without drawing down […]
