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
-
Mugabe’s son drops bail request – what has happened to the family after losing power
23 minutes -
President Mahama directs ministers to resolve Teshie Desalination Plant issues
30 minutes -
Cerebral palsy awareness: The reason behind the African mentality on disability
34 minutes -
MTN launches nationwide self-service SIM swap in Ghana
1 hour -
CLOGSAG strike disrupts local governance in Kwadaso – MCE
1 hour -
Bill Asamoah urges government to fast-track film legislation to boost industry
1 hour -
Shatta Wale reveals ambition to contest Ablekuma South seat
2 hours -
From cassette tapes to streaming: Grace Asare reflects on the shift in music distribution
2 hours -
MTN FA Cup quarter-finals set for explosive weekend
2 hours -
TTU registrar, co-author launch 3 books to shape higher education governance in Ghana
2 hours -
Minority condemns attack on Ghanaian Peacekeepers in Lebanon, demands full investigation
2 hours -
I have never taken even GH₵1 from Shaxi – Shatta Wale calls for gov’t support
2 hours -
‘Largest ever’ oil reserve release agreed by 32 countries, as Strait of Hormuz ships attacked
2 hours -
Fuel shortages unlikely despite Middle East tensions – TOR assures Ghanaians
2 hours -
Massive maintenance underway at TOR to boost efficiency – Corporate Affairs Officer
2 hours