Ghana’s central bank, the Bank of Ghana, on Thursday directed all commercial banks in the country to immediately halt payment of foreign currency cash to large corporate bodies, including mining companies and Bulk Oil Distribution Companies (BDCs), if such payments are not backed by prior foreign currency deposits, a statement by the bank said.
The bank, in a notice issued by Aimee V. Quashie (Ms) on August 20, 2025, said it has observed with concern the growing practice of dollar cash withdrawals by large corporates that are not supported by foreign currency deposits.
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