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The Ghana Bankers Association has firmly denied claims that banks intend to restrict over-the-counter (OTC) withdrawals of foreign currencies, particularly U.S. dollars. This follows remarks by Isaac Adongo, MP for Bolgatanga Central and a Board Member of the Bank of Ghana (BoG), who suggested that the central bank might tighten controls to help stabilize the cedi.
In response, John Awuah, President of the Ghana Bankers Association, stated that no such directive has been issued by the BoG. “We have not received any directive from the Bank of Ghana that bars the withdrawal of foreign currency over the counter,” he said, emphasizing that banking operations remain unchanged.
Awuah reassured the public that banks continue to operate under the existing legal framework, including Act 721 of 2006, and that legitimate foreign currency transactions are unaffected. “If you have a legitimate reason, you will be able to access your foreign currency,” he explained.
