Bank of Ghana has banned pricing, advertising, receipting or making payments for goods and services in foreign currency in Ghana
The directive which was issued in a statement released on Thursday, April 7 noted that the legal currency in Ghana is the Cedis and should be the only means of exchange.
The statement explained that companies, institutions and individuals have been prohibited from engaging in foreign exchange business without license by the Bank of Ghana.
It stated that such violations are punishable on summary conviction, by a fine of up to seven hundred (700) penalty units or a term of imprisonment of not more than eighteen months, or both.
Feranmi Okuku
