Ghanaian News

BoG suspends forex licences of Fidelity and First National Bank

The Bank of Ghana (BoG) has suspended the forex licences of Fidelity Bank Ghana and First National Bank of Ghana, an official statement has said.

A statement issued by the Bank of Ghana on Thursday (29 June), said the two banks breached sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules.

“… In addition, the bank has suspended the respective forex licences of the above-mentioned banks from 29 June 2023 to 28 July 2023.”

“By this notice, we caution forex market players including banks, forex bureaus, forex brokers, and money transfer operators (MTOs) to adhere strictly to the applicable forex market regulations and guidelines,” the BoG statement.

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