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BoG clarifies over-the-counter cash withdrawals; caps forex purchases for travel outside Ghana at $10,000

  • May 15, 2025
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The Bank of Ghana (BoG) has issued a public clarification that customers are permitted to make over-the-counter (OTC) cash withdrawals in foreign currency from their Foreign Exchange Accounts (FEA) and Foreign Currency Accounts (FCA), dismissing recent concerns that such transactions could be restricted. This follows remarks made by Isaac Adongo, a board member of the […]

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Business

Customers to face restrictions as CBG gets banned from conducting foreign exchange transactions for a month

  • November 13, 2024
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The Bank of Ghana (BoG) has imposed a one-month suspension on Consolidated Bank Ghana (CBG), preventing it from conducting any foreign exchange transactions starting 26th November 2024. This restriction, issued under section 11 (2) of the Foreign Exchange Act, 2006 (Act 723), is expected to affect CBG customers who rely on the bank for foreign […]

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