Bank Of Ghana Warns Against Trading In Foreign Currency

The Bank of Ghana (BoG) has cautioned the public against dealing in pricing, advertising, receipting or making payments for goods and services in foreign currency without the requisite licence or authorisation.

A statement issued by BoG on Tuesday (5 April) said such violations are punishable on summary conviction, by a fine of up to seven hundred (700) penalty units or a term of imprisonment of not more than 18 months, or both.

The BoG said it is collaborating with the security agencies to clamp down on illegal foreign exchange operations.