No Deals In Foreign Currency – BoG Warns Ghanaians

Foreign Currency Deals are punishable by summary conviction, a fine up to seven hundred penalty units or a prison term of not more than eighteen months, or both


warns against deals in foreign currency in Ghana.

The central bank, BoG, , has issued a warning to companies, institutions, and individuals engaged in businesses in foreign exchange.

According to a statement from the Bank of Ghana, the sole legal tender in Ghana is the Ghana Cedi and Ghana pesewa.

The statement reminded all and sundry about the Foreign Exchange Act, 2006 (Act 723), which prohibits the pricing, advertising, and receipt or payment for goods and services in foreign currency in Ghana.

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“Such violations are punishable by summary conviction, a fine up to seven hundred penalty units or a prison term of not more than eighteen months, or both”

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Emmanuel Dela AHADJIE
Emmanuel Dela AHADJIE
Excited Blogger. Emmanuel Dela AHADJIE is daringly a passionate blogger who seeks to inform his followers and readers with accurate updating news on the go. He is what he terms a 'sociology blogger'...who grabs the bull by its horn. He also doubles up as The Managing Editor of The Momus Newspaper & the CEO of Darling Foods Ghana Ltd. WhatsApp him @ :+233245838678

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