Audio By Carbonatix
Dr. Johnson Pandit Asiama, the Governor of Bank of Ghana, has called on all banks to strengthen internal controls and enhance oversight of operational areas.
The Governor said the responsibility for securing banking products and services must fall more squarely on institutions than on the average customer, who relied on the integrity of systems and due diligence.
The Governor was speaking at the maiden post-Monetary Policy Committee (MPC) meeting with the Chief Executive Officers of banks in Accra.
He said these engagements with the CEOs were central to ensuring a mutual understanding of policy direction and alignment in the collective efforts to foster macroeconomic stability and recovery.
He said the BoG’s Information Security Office continued to share real-time threat alerts, and institutions were expected to act swiftly under the Cybersecurity Directive.
“We take cyber threats seriously and urge all financial institutions to match that level of commitment,” he added.
Dr Aisama urged banks to take advantage of the gathering to emphasise the need for unwavering vigilance and full compliance with Anti money laundering obligations.
The Governor said lessons from past bank resolutions continued to shape crisis preparedness and the refining of supervisory and resolution tools.
He said this would include work to strengthen recovery planning and introduce a Resolvability Assessment Framework to ensure banks were both well-capitalized and resolvable in distress, especially in an increasingly interconnected system.
He said as the central bank deepened reforms and reposition the financial sector for the future, it was equally important to reflect on how banks could do more to drive Ghana’s economic transformation.
The Governor said the Bank expected stronger support especially from foreign-owned banks for trade finance, cross-border payment infrastructure, and platforms like Pan-African Payment and Settlement System.
He said BoG would engage with the sector to develop coordinated, practical solutions that improve transaction efficiency, expand export support, and enhance Ghana’s competitiveness in regional and global trade.
“To build true resilience, we must move decisively beyond traditional, reactive supervision toward a more forward-looking, risk-sensitive, and system aware model,” he said.
Dr Asiama said the shift was not just about enforcing compliance, but also about shaping a banking system that was agile, accountable, and prepared for the future.
He said the strategy was anchored on focusing on risk identification and mitigation, building digital resilience, focusing on governance and compliance, enhancing collaboration, building capacity for future challenges and prioritizing sustainability oversight.
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