BoG warns against deals in foreign currency in Ghana.
The central bank, BoG, Bank Of Ghana, 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.
YOU CAN READ MORE NEWS FROM OUR HOME PAGE
“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”
Read More Related News…
- Mass tilapia death: Embargo on 2 Chinese farms at Asutuare
- Mixed reactions greet telcos tariff review, 5% Adjustment takes effect Nov 1
- NAM1 Made All Menzgold Customers Pay Monies Into Brew Marketing Consult – Lawyer
- Tamale ‘Sakawa King’ To Be Extradited TO USA To Face Prosecution
- Kennedy Agyapong “Goes Wild” Over $800M Import Charges On His $4M Worth Of Goods