Tag Archives: BoG

Concerned former employees of defunct GN Savings and Loans have appealed to President Akufo-Addo to issue an executive order for the Governor of the Bank of Ghana, Dr. Ernest Addison, to reinstate the company. The regulator revoked the license of GN Savings and Loans Company four years ago, stating that …

The National Democratic Congress (NDC) Member of Parliament for Adaklu and Minority Chief Whip in Parliament, Kwame Governs Agbodza alleged via Twitter on August 11, 2023 that the Bank of Ghana (BoG) has built a luxurious guest house for its governor in the Western Regional capital, Takoradi. He cited inside …

The International Monetary Fund (IMF) has cautioned the Bank of Ghana, highlighting the importance of upholding its policy mandates despite the financial setback experienced in the fiscal year ending 2022. The IMF emphasized that it remains essential for the central bank to take decisive measures to steer inflation back to …

The Bank of Ghana (BoG) has justified the construction of a new headquarters, insisting that its current head office, built in the 1960s, is no longer fit for purpose. The National Democratic Congress (NDC) at a press conference on Tuesday, August 8, accused the Bank of Ghana of building a …

A former Deputy Governor of the Bank of Ghana (BoG), Millison Narh, has died. He died after a short illness in the U.S.A. Mr. Narh retired from the BoG as a Deputy Governor in 2017. He was Deputy Governor from July 2009. During his tenure, Mr. Narh once acted as …

The Bank of Ghana has taken strict action against Fidelity Bank and First National Bank Ghana Limited, imposing a combined penalty of 1000 penalty points each. The penalties have been levied due to the banks’ breach of sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules. …

Governor of the Bank of Ghana (BoG) Ernest Kwamina Yedu Addison has revealed that the first tranche of $600 million from the International Monetary Fund’s $3 Billion credit facility, will hit the bank’s account on Friday, May 19, 2023. Speaking at the IMF and the Finance Ministry’s joint press conference …

The Monetary Policy Rate of the Bank of Ghana has increased its policy rate – the rate at which it lends to commercial banks – by 100 basis points to 28%. Within a year, the rate has gone up by a staggering 13.5% The Central Bank cited downside risks to …

The Ghana cedi is now selling at ¢12 to the US dollar in the retail or forex market, following days of sustained stability. This is about 0.86% loss in value since the beginning of the year. The Bank of Ghana is however quoting a dollar for ¢9.0002 on the interbank …

The Bank of Ghana has revoked the license of the Airport City Forex Bureau within the Atlantic Tower building and Trade House Forex Bureau Ltd, a popular forex bureau at the Marina Mall. The closure follows the failure of the operators to issue receipts and the breaching of Foreign Exchange …