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Banks procure armoured bullion vans to protect money, lives

Banks in Ghana have procured 60 armoured bullion vans to ensure safe carting of money and the protection of lives, Mr John Awuah, Chief Executive Officer (CEO) of the Ghana Association of Bankers, has said.

He said the special purpose vehicles with siren, tracking devices, bullet resistant glass and other protective features, were procured between January and June this year.

This comes at the back of attacks on bullion vans between 2018 and 2021, leading to the loss of three lives and robbers bolting away with GHC1,050,000 while other victims sustained injuries.

“We have taken delivery of more than 60 armoured bullion vans as of June this year,” Mr. Awuah told the Ghana News Agency, adding that a lot more of such security vehicles would be in the country by December.

Mr. Awuah said the banks, together with the Ghana Police Service had also procured some armoured vests and ballistic helmets to ensure that officers who go on escort duties are fully armed in right regalia.

He said: “The security of cash movement and escort officers is a critical component of the business of banking. More so, despite the transition to digital financial services, the volume of cash transactions is extremely high. In that regard, the safety and security of cash is of prime importance to the industry.”

“So in the period when we experienced these incidences, we commiserated with the people who were affected and worked actively with the Ghana Police to re-strategise on how to safely move cash from one point to another.

‘The Central Bank also stepped in to provide some temporary solution for the Banks, by using its armoured bullion vans for cash movement.”

Mr. Awuah noted that the fizzling out of soft body vehicles with armoured vehicles had been a little slow because the procurement process of such highly security sensitive vehicles is a painful process.

Mr. Awuah said we are a region of Africa which is unstable, therefore the Police and National Security are interested in who is using the van, for what purpose and there must be a contract.

On the issue of Military Officers escorting cash in transit vehicles, the CEO explained that it became necessary to boost security and prevent the recurrence of attacks.

He said: At the height of the attacks we wanted to have more vans on the ground and at the time, the Police were also undertaking some internal exercises for promotion which limited the number of Police personnel available.

Ghana recorded bullion van attacks since 2018 and in two of the cases, Police officers escorting the vehicles lost their lives while in another incident, a 35-year-old lady was killed.


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