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The Bank of Ghana (BoG) has said it has continued to strengthen its regulatory effectiveness to help achieve its financial stability objective. In a statement to mark the 63rd anniversary of the central bank, the BoG noted that the scale-up of the supervisory role has been seen in the closure of 420 …
Read More »FULL TEXT: Deputy BoG Governor speaks on crisis to recovery at IMF webinar
CRISIS TO RECOVERY STRENGTHENING ECONOMIC INSTITUTIONS IN SUB-SAHARAN AFRICA DURING COVID-19 SPEAKING NOTES FOR IMF WEBINAR DR. MAXWELL OPOKU-AFARI, FIRST DEPUTY GOVERNOR, BANK OF GHANA JULY 22, 2020 1. Introduction The global economy is going through extraordinary times, requiring even more exceptional responses. Policy response has been swift and decisive in …
Read More »Financial institutions falling victim to a new fraud method – BoG
The Bank of Ghana (BoG) has served notice that a number of financial institutions are falling victim of a new method being adopted by fraudsters to dupe banks and other financial institutions.. The central bank said it therefore raising awareness among the institutions and Ghanaians in general in order to prevent the …
Read More »BoG dead silent on new cedi notes video – As man captured in footage dies mysteriously
A video containing huge bundles of the newly printed GH¢100 and GH¢200 notes believed to be amounting to billions of Ghana cedis, has hit the internet igniting wild speculations among social media users and political party fanatics, as to who owns it and what it was meant for. The amount …
Read More »GH¢3bn loaned to businesses after coronavirus restrictions – BoG
Deputy Governor of the Bank of Ghana, Elsie Awadzie, has disclosed that over GH¢3 billion has been advanced to businesses by commercial banks following the lifting of coronavirus restrictions. Speaking at a webinar organised by the University of Ghana Business School (UGBS), the Deputy Governor of the central bank …
Read More »Bank of Ghana spends GH¢306m on printing cedis in 2019
A total of GH¢306 million has been spent by the Central Bank to print money in 2019 including the new notes of GH¢100 and GH¢200. From GH¢147million spent in 2018, the jump, which represents an increment of 108%, is attributed to the new notes. According to the Bank of Ghana’s 2019 …
Read More »BoG’s GHS10 billion loan to GoG illegal – Jinapor
Former Deputy Minister of Energy under the erstwhile Mahama-led administration John Jinapor has said it is “illegal and a clear violation” of the Bank of Ghana (BOG) Act for the Central bank to lend GHS10 billion to Government. Minister for Finance, Ken Ofori-Atta on Friday, 29 May 2020 in a statement presented …
Read More »BoG gives GHC10m to COVID-19 Trust Fund
After President Nana Addo Dankwa Akufo-Addo, his vice and appointees donated their 3-month salary to the COVID-19 Trust Fund, many people including some members of the opposition political parties have made donations. Faith-based organisations and business moguls have also contributed their quota towards the growth of the national trust. The latest to make …
Read More »Board Chairman of Afro Arab Microfinance hails BOG Governor
The Board Chairman of Afro Arab Microfinance Company limited Alhaji Salamu Amadu has commended the governor of Bank of Ghana(BOG) Dr. Ernest Addison for the bold step he took to help stabilise the financial sector. Alhaji Salamu believes the move by the central bank to “cut interest rates” in fighting …
Read More »Central Bank award: I am confident the best days of the BoG lie ahead – Akufo-Addo
President Nana Akufo-Addo has lauded the central bank on its recent award as the African Central Bank of the Year 2019. According to the president, the award was proof of the “excellent work” by the Governor of the Bank of Ghana, Dr Ernest Addison, in reforming the financial sector. In …
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