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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
The Bank of Ghana last year spent more than GH¢153 million to print the country’s legal tender, the cedi. The amount spent includes the actual cost of printing the legal tender, fees paid to the agency that supervised the printing process as well as what the central bank describes as other currency expenses. According to […]
The Bank of Ghana (BoG), has served notice that it will soon scrutinize the salaries of Chief Executive Officers and compensations for boards of all banks in the country. The move according to the central bank is aimed at cutting down on the huge salaries of Managing Directors who are not performing to satisfaction. Reacting […]
The Securities and Exchange Commission (SEC) will begin accepting relevant documents for the validation of investment claims on November 18, 2019, following the revocation of the licenses of 53 Fund Management Companies. In a statement, the SEC said designated branches of Consolidated Bank of Ghana Limited (CBG) will open to receive the claims from clients who have their […]
The 53 fund management companies that had their licenses revoked by the Securities and Exchange Commission (SEC) were managing customers’ funds which run in excess of GH¢8 billion, Citi Business News’ sources say. The source close to the regulator said the affected companies were managing funds belonging to some 56,000 customers who had invested in […]
Confidential information gleaned from Bank of Ghana (BoG) correspondence of 12th May, 2016 reveal how the former deputy governor of the Bank approved needless liquidity supports to UT bank to cover up for huge indebtedness of MBG limited and Holman Brothers Ghana Ltd, all being companies owned by Ibrahim Mahama. In the letter herewith attached, […]
