Audio By Carbonatix
The Bank of Ghana (BoG) has refuted reports that the country has lost US$8 billion in the last two years based on FinTechs and Money Transfer Operators (MTO) withholding inward remittances at the expense of the country’s foreign currency reserves.
The central bank described the report as misleading and not grounded on facts.
According to the BoG, the report suggested that the country lost US$ 5 billion in 2022, and US$3 billion in 2023.
“The purpose of this publication is to properly inform and educate our stakeholders and the public on the extent of involvement of FinTechs and MTOs in inward remittance services and to clarify inaccurate reports that have been shared in the media lately”, a statement signed by the BoG said.
Below is the full statement
Latest Stories
-
Unity is the path to power – Kufuor calls for one strong NPP
18 minutes -
Mahama marks first anniversary of election victory
18 minutes -
Akufo-Addo managed Covid-19 well – Kufour
29 minutes -
Ghana must fund its own education, not wait for donors – Mahama
39 minutes -
‘Ketamine Queen’ spiralled before Matthew Perry death, friends tell BBC
53 minutes -
Unity is key to NPP’s future progress – Kufour advises
54 minutes -
The future is bright for African Rugby League referees – James Jones
58 minutes -
Embrace ESG Materiality Assessment to unlock potential funding – Deloitte Assurance Partner to firms
1 hour -
I was not consulted on National Cathedral Project – Kufuor reveals
1 hour -
Ofankor–Nsawam Road: Roads Ministry announces new diversion for asphalt works
2 hours -
ECOWAS deploys standby force to Benin amid military takeover
2 hours -
Livestream: The Probe discusses scholarship debt crises
2 hours -
2025/26 GPL: Hearts suffer comprehensive 2-0 loss to Karela United
3 hours -
Kennedy Agyapong begins Central Regional campaign tour with major healthcare donations
3 hours -
Digital-savvy youth in Northern Ghana use internet to digitise local languages for generations
3 hours