Bank of Ghana Archives -

Bank of Ghana suspends Taptap Send over regulatory breaches

The Bank of Ghana (BoG) has issued a one-month suspension of Taptap Send’s remittance services with commercial banks, Dedicated Electronic Money Issuers (DEMIs), and Enhanced Payment Service Providers (EPSPs) in the country. The suspension, which take effect from November 8, 2024, is a response to regulatory violations involving a cedi remittance wallet operated by Taptap […]

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Bank of Ghana bans 292 individuals & businesses from issuing cheques for three years

The Bank of Ghana (BoG) has announced sanctions against 292 individuals and businesses for persistently issuing dud cheques. In a statement released today, the central bank said the offenders comprise – 47 unnamed individuals and 245 unnamed business entities – that issued dud cheques on at least three occasions between January 2022 and January 2024,

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High Court upholds BoG’s authority to revoke bank director’s appointment

Leave a Comment / Local News, News / Superlaw Admin

On July 10, 2024, Justice Nana Brew of the High Court dismissed an application for judicial review filed by George Smith-Graham, a former director of UMB Bank, against the Bank of Ghana (BoG). The case stemmed from events beginning on July 22, 2022, when the BoG issued a directive under the Banks and Specialised Deposit-Taking

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Revocation of UniCredit’s license done in accordance with the law-Supreme Court

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The Supreme Court says it is satisfied that the revocation of UniCredit Ghana Limited’s license was done in accordance with the stipulated law appearing on the face of the record. “We are satisfied that on the face of the record, that there was evidence of hearing between UniCredit and Bank of Ghana (BOG) prior to

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Amend Bank of Ghana Act — IEA

Leave a Comment / Local News, News, Uncategorized / Superlaw Admin

The Director of Research of the Institute of Economic Affairs (IEA), Dr John Kwakye, has proposed an amendment to the terms and conditions of the service of Board of Directors of the Bank of Ghana so that their allowances will be determined by Parliament to insulate the bank from Executive control. He said allowing the

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BoG suspends forex licences of GT Bank, FBNBank

Leave a Comment / Local News, News / Yaw Nkansah Abankroh

The Bank of Ghana has suspended the foreign exchange trading licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN). The one-month suspension by the Central Bank takes effect from March 18, 2024, and is in accordance with Section 11 (2) of the Foreign Exchange Act 2006, (Act 723). A statement from

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