The Bank of Ghana has once again warned the public (companies, institutions and individuals) to desist from unauthorized dealings in foreign currency.
This is in accordance with the Foreign Exchange Act, 2006 (Act 723).
According to a statement from the Central Bank, companies, institutions and individuals are prohibited from engaging in foreign exchange business without a licence issued by Bank of Ghana or pricing, advertising, receipting or making payments for goods and services in foreign currency in Ghana, without written authorization from Bank of Ghana.
In Authority of this Bohyeba Afriyie had an eloquent interview with Mr Prince Obiri Yeboah, a Chartered Banker, Financial Analyst And he had the following to say about the central banks statement.
He said that they are late in the fight of illegal forex Activities but still as the heart Ghana’s finances has to join in the fight.
He said that the black market are being entertained by all and they are the main cause of the cedi depreciation.
He also said that Ghanaians enjoy dealing in the American dolar and that is why it rise against our cedi so all Ghanaians in their own little ways must work to stop the American dolar from being powerful than the cedis.
He added that Ghana belongs to us all not for the incumbent so let’s all in our means fight for our economy.