Audio By Carbonatix
The Bank of Ghana (BoG) has cautioned companies, institutions and individuals dealing in the business of foreign exchange without authorization to desist from such acts.
“The Bank of Ghana announces for the information of the public that it has come to its notice that some companies, institutions and individuals are dealing in the business of foreign exchange without authorization from the Bank,” a statement from the Central Bank has said.
The statement added that “The general public is hereby reminded that the Foreign Exchange Act, 2006 (Act 723) prohibits the pricing, advertising and receipt or payment for goods and services in foreign currency in Ghana.”
“Such violations are punishable by summary conviction, a fine of up to seven hundred penalty units or a prison term of not more than eighteen months, or both,” the statement concluded.
The BoG therefore insists that “the sole legal tender in Ghana is the Ghana Cedi and Ghana pesewa.”
Latest Stories
-
Hamamat and Wiyaala land tourism ambassadorial roles
3 hours -
A singer’s tragic death highlights Nigeria’s snakebite problem
4 hours -
King Charles to host Nigeria’s first UK state visit in 37 years
4 hours -
Mikel Arteta: Arsenal’s 9-point lead at top of Premier League means ‘nothing’
5 hours -
Japan votes in snap election as PM Takaichi takes a gamble
5 hours -
Bloodshed in Kpandai as rival chieftaincy factions clash over gravel pit
6 hours -
Most couples learn these 12 hard lessons way too late
7 hours -
Vote-buying allegations: Refer Ayawaso East incident to OSP — Mussa Dankwah tells Mahama
7 hours -
Government plots audacious 180,000-hectare coconut expansion to dominate global markets
7 hours -
AMA doubles sweepers’ wages to GH₵800
8 hours -
Ashie Moore admits defeat in war against vote buying
9 hours -
UniMAC mourns with family as student killed in road crash is laid to rest
9 hours -
Bribery scandal rocks NDC Ayawaso East primary as IMANI President demands total annulment
9 hours -
Pollster Mussa Dankwah reacts as Baba Jamal defies projections in NDC Ayawaso East Primary
9 hours -
Government to roll out Free Primary Healthcare in the first week of April
11 hours