The total losses to fraud suffered Banking, Specialised Deposit-Taking Institutions (B&SDI) and Electronic Money Issuers in 2021 amounted to GH¢61million as compared to GH¢25 million in 2020. The figures contained in the B&SDI and EMI fraud report issued by the Bank of Ghana represents a 144.00% increase in year-on-year terms, although 2021 saw a minimal decline of […]
Tag: BOG
SIDICOIN: “I am not an ambassador” – Stonebwoy reacts to BoG warning
The Bank of Ghana (BoG) has cautioned the public against participating in the impending launch of cryptocurrency investment scheme “SIDICOIN”. In a statement, the BoG said neither the investment scheme nor its promoters had obtained approval from the central bank to operate in the banking and payment services sector. The Bank also reiterated that cryptocurrencies […]
Freedom Coin: Jacob Caesar jabs BoG
Ghanaian businessman, Nana Kwame Bediako, also called Freedom Jacob Caesar, who says his biggest dream is to lead Ghanaian youth out of poverty into financial freedom, has a repost for the Bank of Ghana. Jacob Caesar says the central bank needs to worry more about the falling value of the Ghana cedi than worry about […]
Be cautious about ‘Freedom coin’ cryptocurrency in Ghana – BoG
The Bank of Ghana (BoG) has cautioned the public about an impending launch of a cryptocurrency named “Freedom Coin” in Ghana. “It has come to the attention of Bank of Ghana that there is an impending launch of a cryptocurrency named “Freedom Coin,” the bank said. In line with notice NO.BG/GOV/SEC/2018/02 issued on 22nd January […]
BoG, EOCO flag more ponzi companies
The Bank of Ghana (BoG) has cautioned the public against dealing with cryptocurrency exchange platform, “BitCash Currency Exchange” which claims to have approval from the central bank. According to the BoG, it has not licensed such an entity or any other cryptocurrency exchange platform. A statement dated March 8 and signed by the Secretary, Sandra […]
Big push for 2022 budget – Benefits from $1bn free IMF money
The country is set to inject about US$300 million from its share of the specially created free funds from the International Monetary Fund (IMF) into the 2022 budget. The amount is a third of the US$1 billion interest-free and condition-free money that the country received from the IMF for being a member of the Bretton […]
BoG, NIB probe man busted with 656 ATM cards from Nigeria and Ghana
A team of financial experts from the Bank of Ghana (BoG) is assisting the National Intelligence Bureau (NIB) to investigate how a 42-year-old man, Bachir Musa Aminou, illegally acquired 656 ATM cards connected to nine banks for trans-border business. The team has roped in the Financial Intelligence Centre (FIC) and the Economic and Organised Crime […]
Bank of Ghana to pilot digital Cedi in September – Deputy Governor
The Bank of Ghana will September this year pilot the digital Cedi, First Deputy Governor, Dr Maxwell Opoku Afare has hinted. This, he said forms part of the BoG’s agenda of creating cash-lite society. In an era of cryptocurrencies, he said the introduction of the digital cedi would also help Ghanaians who want to trade […]
Poor corporate governance root of corporate failures – BoG Deputy Governor
A Deputy Governor of the Bank of Ghana (BoG), has challenged all organisations, especially indigenous businesses in all sectors of the Ghanaian economy, and public sector organisations to showcase their efforts over the years to abide by good corporate governance standards. Mrs. Elsie Addo Awadzi, Second Deputy Governor of the BoG says while the importance […]
Bank of Ghana cuts policy rate to 13.5%
The Bank of Ghana (BoG) has slashed its benchmark rate, the policy rate by 100 basis points (bps), signalling a return to monetary easing after a year of tightening. The bank reduced the rate from 14.5 per cent to 13.5 per cent today after concluding its 100th Monetary Policy Committee (MPC) meeting on May 29. […]
Central Bank keeps policy rate unchanged at 14.5 per cent
The Monetary Policy Committee of the Bank of Ghana has kept its policy rate unchanged at 14.5 per cent, citing pressures from rising crude oil prices and direct and secondary price effects of the revenue measures announced in the 2021 budget. “Risks to inflation in the near-term are broadly balanced, but there are emerging short-term […]
First Allied customers grateful to gov’t, BoG after receiving locked-up cash
Some excited customers of First Allied Savings and Loans company which is now defunct have praised government and the Bank of Ghana (BoG) for initiating steps that culminated in the retrieval of their locked up cash. The happy customers, BestNewsGH.com is told are not oblivious of the steps taken by the Bank of Ghana including […]