The Lender of Ghana (Bog) has cautioned businesses, establishments and people dealing in the business of foreign exchange with no authorization to desist from this sort of acts.
“The Financial institution of Ghana announces for the info of the public that it has arrive to its discover that some companies, institutions and persons are dealing in the small business of overseas trade devoid of authorization from the Bank,” a statement from the Central Financial institution has mentioned.
The assertion included that “The basic general public is hereby reminded that the Foreign Exchange Act, 2006 (Act 723) prohibits the pricing, promotion and receipt or payment for products and solutions in foreign forex in Ghana.”
“Such violations are punishable by summary conviction, a great of up to 7 hundred penalty units or a jail time period of not much more than eighteen months, or both equally,” the statement concluded.
The Bathroom consequently insists that “the sole lawful tender in Ghana is the Ghana Cedi and Ghana pesewa.”