Ghana: BoG suspends foreign exchange trading licence of CBG

The Bank of Ghana (BoG) has suspended the foreign exchange trading licence of Consolidated Bank Ghana (CBG), with effect from November 26, 2024, for a period of one month.

This, the central bank ex­plained, is in accordance with section 11 (2) of the Foreign Exchange Act, 2006 (Act 723).

“This is as a result of a num­ber of breaches of the foreign exchange market regulations, Updated Guidelines for Inward Remittance Services for Payment Service Providers dated…