The Bank of Ghana (BoG) has instructed mining companies to channel their foreign exchange inflows through commercial banks instead of directly to the central bank.
BoG Governor Dr. Johnson Asiama confirmed the directive, saying it is aimed at boosting interbank forex trading and improving liquidity.
“Previously, such inflows came directly to the central bank, but we hope this shift will provide additional forex support to commercial banks,” Dr. Asiama explained in an interview with JoyBusiness.
He also highlighted efforts to regulate emerging payment models involving crypto and offshore settlements, emphasizing that such practices must not weaken the cedi. BoG plans to establish a regulatory framework for virtual assets and digital finance by year-end.
On remittances, Dr. Asiama said the Bank will require more frequent and detailed reporting from service providers to ensure transparency and proper accounting of inflows.
He further cautioned against currency speculation, stressing that distortions are temporary and are being corrected. Businesses and households are assured continued access to foreign exchange through formal banking channels.
