• Latest
  • Trending
Bank of Ghana cracks down on unlicensed money transfer services

Bank of Ghana cracks down on unlicensed money transfer services

June 27, 2025
KIC and the Mastercard Foundation train and equip female agripreneurs in beekeeping

KIC and the Mastercard Foundation train and equip female agripreneurs in beekeeping

July 24, 2025
KIC and Agro KiniSols hatch hope for rural farmers through guinea keet innovation

KIC and Agro KiniSols hatch hope for rural farmers through guinea keet innovation

July 24, 2025
Black Sherif Lights Up Accra as Coca-Cola Brings Back ‘Share a Coke’ with Epic Concert Experience

Black Sherif Lights Up Accra as Coca-Cola Brings Back ‘Share a Coke’ with Epic Concert Experience

July 24, 2025
Indonesia arrests 2 foreigners for smuggling cocaine to Bali

Indonesia arrests 2 foreigners for smuggling cocaine to Bali

July 24, 2025
48 killed in Russian passenger plane crash, official says

48 killed in Russian passenger plane crash, official says

July 24, 2025
You will be held liable if you validate ghost names for payment – Finance Minister warns CEO’s of State agencies

You will be held liable if you validate ghost names for payment – Finance Minister warns CEO’s of State agencies

July 24, 2025
Cut prices or miss out on road contracts- Road Minister to cement suppliers

Cut prices or miss out on road contracts- Road Minister to cement suppliers

July 24, 2025
Energy Ministry denies Aviation fuel shortage

Energy Ministry denies Aviation fuel shortage

July 24, 2025
Minority petitions President Mahama and Diplomatic Corps over Ablekuma North Electoral Violence

Minority petitions President Mahama and diplomatic corps over Ablekuma North electoral violence

July 24, 2025
"The NDC has done nothing" - Stephen Amoah, MP- Nhyiaeso

“The NDC has done nothing” – Stephen Amoah, MP – Nhyiaeso

July 24, 2025
GFA, Premier League Clubs chart path for enhanced 2025/26 Season

GFA, Premier League Clubs chart path for enhanced 2025/26 Season

July 24, 2025
WAFCON: Black Queen coach Kim Lars targets bronze medal ahead of South Africa showdown

WAFCON 2024: Black Queen coach Kim Lars targets bronze medal ahead of South Africa showdown

July 24, 2025
Happy Ghana
Advertisement
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home News

Bank of Ghana cracks down on unlicensed money transfer services

in News, Top Story
Bank of Ghana cracks down on unlicensed money transfer services

Bank of Ghana cracks down on unlicensed money transfer services

Share on FacebookShare on TwitterShare on Whatsapp

The Bank of Ghana (BoG) has sounded the alarm on ten Money Transfer Operators (MTOs) found operating in the country without proper authorization.

These companies are now banned from conducting any transactions within Ghana’s financial ecosystem.

The Banned Money Transfer Services include
– ACE Money Transfer
– Remit Union
– Remit Home
– Roze Remit
– Monty Global
– Nairagram
– I-Transfer
– Hurupay
– Eversend
– IZI Send

According to BoG, these firms have been dealing in foreign exchange and remittances without the required licenses, which is a direct breach of Ghana’s Foreign Exchange Act, 2006 (Act 723).

Under this law:
– Only licensed entities may participate in forex operations (Section 3.1).

– All money transfers to and from Ghana must go through approved providers (Section 15.3).

All banks, dedicated Electronic Money Issuers (DEMIs), and Enhanced Payment Service Providers (EPSPs) are instructed to immediately stop any dealings with the flagged companies.

Financial institutions that ignore this directive risk strict regulatory sanctions, including the revocation of their licenses.

Tags: Bank of GhanaBoGGhanaunlicensed money transfer

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

Ghana steps up as West Africa’s Tourism Leader

Next Post

Break Barriers, Build Tourism’: Ghana Urges ECOWAS to Act on Free Movement

Next Post
Break Barriers, Build Tourism’: Ghana Urges ECOWAS to Act on Free Movement

Break Barriers, Build Tourism’: Ghana Urges ECOWAS to Act on Free Movement

Search

No Result
View All Result

Listen Live

BBC Match of the Day Africa

Happy Ghana

Recent News

  • KIC and the Mastercard Foundation train and equip female agripreneurs in beekeeping
  • KIC and Agro KiniSols hatch hope for rural farmers through guinea keet innovation
  • Black Sherif Lights Up Accra as Coca-Cola Brings Back ‘Share a Coke’ with Epic Concert Experience
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.