Tag Archives: BOG

The Bank of Ghana’s July 2024 Monetary Policy Report has disclosed that the Non-Performing Loans (NPL) ratio in the banking sector increased to 24.2% in June 2024, compared to 18.7% in June 2023.   Even when adjusted for fully provisioned loan losses, the NPL ratio climbed to 10.8% in June …

To inherit or access a deceased customer’s account, one must be named as a beneficiary in the deceased’s Will, BOG claims. Furthermore, a court of competent jurisdiction must issue Letters of Probate to empower the beneficiary to access the account. The Bank of Ghana (BoG) has clarified that being named …

The Ghana Association of Banks (GAB) has called on the Bank of Ghana (BoG) to publicly disclose the names of businesses and individuals penalized for issuing dud cheques.  The association believes that publishing these names in national newspapers is crucial for restoring trust in cheques as a reliable means of …

Initial checks by Citi Business News have revealed that some foreign exchange bureaux have not fully complied with the Bank of Ghana’s (BOG’s) new directive on transactions. The directive which took effect on Thursday, August 1, 2024, requires all licensed foreign exchange bureaux to request the Ghana Card before completing …

The Bank of Ghana (BoG) has distinguished itself in stablising the cedi despite the recent economic challenge, President Akufo-Addo has said. Speaking at an end of year cocktail in Accra on Thursday (14 December), Akufo-Addo commended the bank for ensuring a sound financial system in Ghana. “The Bank of Ghana has …

The November 2023 Summary of Economic and Financial Data by the Bank of Ghana has put the depreciation of Ghana’s currency, the cedi, at 25.8% as of November 2023. Per the data, the cedi had remained relatively stable between March and September 2023, selling at GHS 11.01 and GHS 11.13 …

North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, has published documents alleging that the land on which the new Bank of Ghana (BoG) head office is being constructed is the subject of a long litigation battle. The lawmaker, who has so far published a series of exposés on the BoG building claims among others …

The Governor of the Bank of Ghana, Ernest Addison, has explained the issues surrounding the building of a new head office. According to him, after various stages of evaluation and submission of the contract details the value of the contract approved by the Public Procurement Authority is $121,078,517.94. At a press briefing …

Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa has published documents suggesting that the original value of the Bank of Ghana’s new offices was a little over US$81m but is now likely to exceed the US$250m tag given by the Minority in Parliament. The MP, in a publication dated …

Majority Leader in Parliament and Minister for Parliamentary Affairs Osei Kyei-Mensah-Bonsu has justified the decision by the Bank of Ghana(BoG) to build a new headquarters. According to him, building a new headquarters for the BoG will in the future serve as a Headquarters for ECOWAS’ new currency ECO when it is successfully …