The Bank of Ghana (BoG) has said it will soon sanction institutions that are pricing their goods and services in foreign currencies.
Head of Forex Bureau Examinations and Other Financial Institutions at the central bank, Adwoa Konadu torttoo said:
“For the general public and other stakeholders who price their things in foreign currencies, after this caution, the Bank of Ghana is going to sanction them.
These directives come with punishment or sanctions and so if you flout this law you will be sanctioned.” she added.
The BoG in a notice cautioned companies, institutions and individuals against dealing in the business of foreign exchange without authorization from the bank
by: Naa Anyema